Optimize Financial Inc Invests $184,000 in Owens & Minor, Inc. (NYSE:OMI)

Optimize Financial Inc bought a new stake in Owens & Minor, Inc. (NYSE:OMI) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 14,072 shares of the company’s stock, valued at approximately $184,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of OMI. Waldron Private Wealth LLC acquired a new stake in Owens & Minor in the 4th quarter valued at about $406,000. JPMorgan Chase & Co. increased its holdings in shares of Owens & Minor by 68.4% in the third quarter. JPMorgan Chase & Co. now owns 376,830 shares of the company’s stock valued at $5,912,000 after purchasing an additional 152,999 shares during the last quarter. Jane Street Group LLC lifted its position in Owens & Minor by 126.0% during the third quarter. Jane Street Group LLC now owns 186,280 shares of the company’s stock worth $2,923,000 after buying an additional 103,871 shares in the last quarter. Advisors Preferred LLC boosted its stake in Owens & Minor by 173.9% during the fourth quarter. Advisors Preferred LLC now owns 84,305 shares of the company’s stock worth $1,083,000 after buying an additional 53,529 shares during the last quarter. Finally, State Street Corp grew its holdings in Owens & Minor by 2.6% in the 3rd quarter. State Street Corp now owns 3,064,547 shares of the company’s stock valued at $48,083,000 after buying an additional 78,985 shares in the last quarter. 98.04% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Owens & Minor

In other Owens & Minor news, major shareholder Coliseum Capital Management, L acquired 1,738,511 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The stock was purchased at an average price of $9.39 per share, for a total transaction of $16,324,618.29. Following the completion of the acquisition, the insider now owns 9,469,698 shares of the company’s stock, valued at approximately $88,920,464.22. This trade represents a 22.49 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last 90 days, insiders have bought 2,718,412 shares of company stock worth $24,495,308. 2.62% of the stock is currently owned by company insiders.

Owens & Minor Trading Down 1.4 %

Shares of OMI stock opened at $6.90 on Monday. Owens & Minor, Inc. has a 1-year low of $6.07 and a 1-year high of $25.85. The firm has a market cap of $533.00 million, a PE ratio of -10.62, a price-to-earnings-growth ratio of 0.20 and a beta of 1.02. The company has a 50-day moving average of $8.44 and a two-hundred day moving average of $11.76. The company has a debt-to-equity ratio of 2.11, a current ratio of 1.09 and a quick ratio of 0.45.

Owens & Minor (NYSE:OMI) last posted 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 firm had revenue of $2.70 billion during the quarter, compared to analysts’ expectations of $2.68 billion. During the same quarter last year, the company posted $0.69 EPS. The firm’s quarterly revenue was up 1.5% on a year-over-year basis. On average, analysts predict that Owens & Minor, Inc. will post 1.51 EPS for the current year.

Owens & Minor declared that its board has approved a stock buyback program on Friday, February 28th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to reacquire up to 13.6% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research analysts have recently commented on OMI shares. Robert W. Baird lifted their price target on Owens & Minor from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Monday, March 3rd. UBS Group decreased their target price on shares of Owens & Minor from $25.00 to $13.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Finally, JPMorgan Chase & Co. cut their price target on shares of Owens & Minor from $14.00 to $10.00 and set an “underweight” rating for the company in a report on Monday, March 10th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Owens & Minor presently has a consensus rating of “Hold” and an average 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.