Owens & Minor, Inc. (NYSE:OMI) Short Interest Update

Owens & Minor, Inc. (NYSE:OMI) saw a large decline in short interest in the month of March. As of March 15th, there was short interest totalling 3,680,000 shares, a decline of 23.8% from the February 28th total of 4,830,000 shares. Approximately 5.3% of the company’s shares are sold short. Based on an average daily volume of 1,510,000 shares, the short-interest ratio is presently 2.4 days.

Insider Activity at Owens & Minor

In related news, major shareholder Coliseum Capital Management, L purchased 1,738,511 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The shares were acquired 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 directly owns 9,469,698 shares in the company, valued at approximately $88,920,464.22. The trade was a 22.49 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 3.59% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. FMR LLC boosted its position 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 worth $181,449,000 after purchasing an additional 90,862 shares during the period. Vanguard Group Inc. boosted its holdings in Owens & Minor by 1.2% in the 4th 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 during the period. Coliseum Capital Management LLC raised its holdings in 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 acquiring an additional 1,141,483 shares during the period. State Street Corp boosted its stake 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. Finally, Charles Schwab Investment Management Inc. grew 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 own 98.04% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Robert W. Baird boosted 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. 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 report on Monday, March 10th. Finally, UBS Group cut 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 analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $13.75.

Owens & Minor Stock Performance

Shares of OMI traded up $0.03 during mid-day trading on Wednesday, hitting $9.07. 24,972 shares of the company traded hands, compared to its average volume of 1,571,097. The stock has a market cap of $700.40 million, a price-to-earnings ratio of -13.93, a P/E/G ratio of 0.20 and a beta of 0.61. The stock has a 50-day moving average price of $9.61 and a two-hundred day moving average price of $12.27. Owens & Minor has a 1 year low of $6.07 and a 1 year high of $28.35. The company has a debt-to-equity ratio of 2.11, a quick ratio of 0.45 and a current ratio of 1.09.

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

Owens & Minor announced that its Board of Directors has approved a share repurchase program on Friday, February 28th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to buy 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.

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.