Massachusetts Financial Services Co. MA Lowers Position in Owens & Minor, Inc. (NYSE:OMI)

Massachusetts Financial Services Co. MA reduced its position in shares of Owens & Minor, Inc. (NYSE:OMI) by 2.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 97,901 shares of the company’s stock after selling 2,922 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Owens & Minor were worth $1,280,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Waldron Private Wealth LLC purchased a new position in shares of Owens & Minor during the 4th quarter worth approximately $406,000. JPMorgan Chase & Co. raised its position in Owens & Minor by 68.4% in the third quarter. JPMorgan Chase & Co. now owns 376,830 shares of the company’s stock worth $5,912,000 after acquiring an additional 152,999 shares in the last quarter. Jane Street Group LLC lifted its holdings in Owens & Minor by 126.0% in the third quarter. Jane Street Group LLC now owns 186,280 shares of the company’s stock valued at $2,923,000 after acquiring an additional 103,871 shares during the period. Advisors Preferred LLC boosted its position in shares of Owens & Minor by 173.9% during the 4th quarter. Advisors Preferred LLC now owns 84,305 shares of the company’s stock worth $1,083,000 after purchasing an additional 53,529 shares in the last quarter. Finally, State Street Corp grew its stake in shares of Owens & Minor by 2.6% during the 3rd 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 during the period. Institutional investors and hedge funds own 98.04% of the company’s stock.

Owens & Minor Stock Performance

NYSE:OMI opened at $7.80 on Wednesday. Owens & Minor, Inc. has a twelve month low of $6.07 and a twelve month high of $27.24. The company has a market capitalization of $602.53 million, a P/E ratio of -12.00, a price-to-earnings-growth ratio of 0.20 and a beta of 1.02. The company has a current ratio of 1.09, a quick ratio of 0.45 and a debt-to-equity ratio of 2.11. The firm has a 50-day moving average price of $8.81 and a two-hundred day moving average price of $11.98.

Owens & Minor (NYSE:OMI) last issued its quarterly earnings data on Friday, February 28th. The company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. Owens & Minor had a negative net margin of 0.46% and a positive return on equity of 14.60%. The business had revenue of $2.70 billion during the quarter, compared to analysts’ expectations of $2.68 billion. During the same period last year, the company posted $0.69 EPS. The company’s revenue was up 1.5% on a year-over-year basis. As a group, research analysts expect that Owens & Minor, Inc. will post 1.51 earnings per share for the current fiscal year.

Owens & Minor announced that its board has approved a stock buyback program on Friday, February 28th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to repurchase up to 13.6% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several analysts recently commented on OMI shares. JPMorgan Chase & Co. reduced their price objective 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. Robert W. Baird lifted their price target on shares of Owens & Minor from $10.00 to $11.00 and gave the company a “neutral” rating in a research report on Monday, March 3rd. Finally, UBS Group decreased 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 equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $13.75.

Insider Transactions at Owens & Minor

In other news, major shareholder Coliseum Capital Management, L purchased 240,000 shares of the stock in a transaction dated Monday, April 7th. The stock was acquired at an average cost of $7.84 per share, for a total transaction of $1,881,600.00. Following the completion of the acquisition, the insider now directly owns 11,152,955 shares in the company, valued at $87,439,167.20. This represents a 2.20 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders purchased a total of 2,493,412 shares of company stock valued at $22,832,558 over the last three months. 2.62% of the stock is currently owned by insiders.

Owens & Minor 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.