Kennedy Capital Management LLC Purchases 163,184 Shares of Owens & Minor, Inc. (NYSE:OMI)

Kennedy Capital Management LLC boosted its position in Owens & Minor, Inc. (NYSE:OMI) by 15.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,216,859 shares of the company’s stock after purchasing an additional 163,184 shares during the period. Kennedy Capital Management LLC owned approximately 1.58% of Owens & Minor worth $15,904,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of OMI. Vanguard Group Inc. raised its stake in Owens & Minor by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 8,915,756 shares of the company’s stock worth $116,529,000 after buying an additional 107,092 shares in the last quarter. State Street Corp raised its position in shares of Owens & Minor by 2.6% in the third quarter. State Street Corp now owns 3,064,547 shares of the company’s stock worth $48,083,000 after acquiring an additional 78,985 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Owens & Minor by 13.6% during the 4th 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 during the last quarter. Geode Capital Management LLC raised its position in shares of Owens & Minor by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,711,453 shares of the company’s stock worth $26,858,000 after purchasing an additional 13,164 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Owens & Minor by 6.0% during the 4th quarter. Bank of New York Mellon Corp now owns 622,921 shares of the company’s stock valued at $8,142,000 after acquiring an additional 35,105 shares in the last quarter. Institutional investors own 98.04% of the company’s stock.

Owens & Minor Price Performance

Owens & Minor stock opened at $7.48 on Thursday. Owens & Minor, Inc. has a 52-week low of $6.07 and a 52-week high of $26.37. The company’s 50 day moving average is $8.53 and its two-hundred day moving average is $11.89. The firm has a market cap of $577.81 million, a PE ratio of -11.51, a price-to-earnings-growth ratio of 0.20 and a beta of 1.02. The company has a quick ratio of 0.45, a current ratio of 1.09 and a debt-to-equity ratio of 2.11.

Owens & Minor (NYSE:OMI) last posted its earnings results on Friday, February 28th. The company reported $0.55 EPS for the quarter, beating 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 firm had revenue of $2.70 billion for the quarter, compared to the consensus estimate of $2.68 billion. During the same period last year, the firm posted $0.69 EPS. The company’s revenue was up 1.5% on a year-over-year basis. On average, research analysts expect that Owens & Minor, Inc. will post 1.51 EPS for the current fiscal year.

Owens & Minor announced that its board has authorized a share buyback program on Friday, February 28th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 13.6% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other Owens & Minor news, major shareholder Coliseum Capital Management, L acquired 240,000 shares of the firm’s stock in a transaction on Monday, April 7th. The stock was bought at an average cost of $7.84 per share, for a total transaction of $1,881,600.00. Following the completion of the purchase, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last quarter, insiders acquired 2,493,412 shares of company stock worth $22,832,558. Insiders own 2.62% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. UBS Group dropped their price target on shares of Owens & Minor from $25.00 to $13.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. JPMorgan Chase & Co. lowered 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 report on Monday, March 10th. Finally, Robert W. Baird increased their price objective on shares of Owens & Minor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Monday, March 3rd. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $13.75.

About Owens & Minor

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.