Short Interest in Owens & Minor, Inc. (NYSE:OMI) Declines By 23.8%

Owens & Minor, Inc. (NYSE:OMI) was the recipient of a large decrease in short interest in March. As of March 15th, there was short interest totalling 3,680,000 shares, a decrease of 23.8% from the February 28th total of 4,830,000 shares. Based on an average daily trading volume, of 1,510,000 shares, the days-to-cover ratio is currently 2.4 days. Currently, 5.3% of the shares of the stock are short sold.

Insider Activity at Owens & Minor

In other news, major shareholder Coliseum Capital Management, L bought 354,901 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was purchased at an average price of $9.19 per share, with a total value of $3,261,540.19. Following the purchase, the insider now owns 9,824,599 shares of the company’s stock, valued at $90,288,064.81. This trade represents a 3.75 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 3.59% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC grew its stake in shares of Owens & Minor by 0.8% in the third quarter. FMR LLC now owns 11,564,624 shares of the company’s stock valued at $181,449,000 after buying an additional 90,862 shares in the last quarter. Vanguard Group Inc. grew its position in Owens & Minor by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 8,915,756 shares of the company’s stock valued at $116,529,000 after acquiring an additional 107,092 shares in the last quarter. Coliseum Capital Management LLC raised its stake in shares of Owens & Minor by 31.3% during the fourth quarter. Coliseum Capital Management LLC now owns 4,785,964 shares of the company’s stock valued at $62,553,000 after purchasing an additional 1,141,483 shares during the period. State Street Corp lifted its position in shares of Owens & Minor by 2.6% during the third quarter. State Street Corp now owns 3,064,547 shares of the company’s stock worth $48,083,000 after purchasing an additional 78,985 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Owens & Minor by 13.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,305,043 shares of the company’s stock worth $30,127,000 after purchasing an additional 276,807 shares in the last quarter. Institutional investors and hedge funds own 98.04% of the company’s stock.

Owens & Minor Trading Down 0.1 %

Shares of OMI traded down $0.01 during mid-day trading on Tuesday, reaching $9.02. The company had a trading volume of 1,257,191 shares, compared to its average volume of 1,022,715. Owens & Minor has a fifty-two week low of $6.07 and a fifty-two week high of $28.35. The firm has a fifty day simple moving average of $9.61 and a 200-day simple moving average of $12.27. The stock has a market cap of $696.92 million, a price-to-earnings ratio of -13.88, a price-to-earnings-growth ratio of 0.20 and a beta of 0.61. The company has a current ratio of 1.09, a quick ratio of 0.45 and a debt-to-equity ratio of 2.11.

Owens & Minor (NYSE:OMI) last issued its earnings results on Friday, February 28th. The company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. The firm had revenue of $2.70 billion for the quarter, compared to analysts’ expectations of $2.68 billion. Owens & Minor had a positive return on equity of 14.60% and a negative net margin of 0.46%. The firm’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.69 earnings per share. On average, sell-side analysts anticipate that Owens & Minor will post 1.51 EPS for the current fiscal year.

Owens & Minor announced that its Board of Directors has initiated a stock repurchase plan on Friday, February 28th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 13.6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

OMI has been the topic of several recent analyst reports. Robert W. Baird upped their price objective on shares of Owens & Minor from $10.00 to $11.00 and gave the company a “neutral” rating in a research note on Monday, March 3rd. JPMorgan Chase & Co. lowered their target price on shares of Owens & Minor from $14.00 to $10.00 and set an “underweight” rating for the company in a research note on Monday, March 10th. Finally, UBS Group reduced their price target on Owens & Minor from $25.00 to $13.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Owens & Minor currently has a consensus rating of “Hold” and a consensus price target of $13.75.

Owens & Minor Company Profile

Owens & Minor, Inc is a healthcare solutions company, which engages in the product manufacturing and delivery, home health supply, and perioperative services to support care through the hospital and into the home. It operates through the Products and Healthcare Services, and Patient Direct segments.