Alliancebernstein L.P. Reduces Position in Owens & Minor, Inc. (NYSE:OMI)

Alliancebernstein L.P. reduced its position in Owens & Minor, Inc. (NYSE:OMI - Free Report) by 22.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 245,412 shares of the company's stock after selling 69,900 shares during the period. Alliancebernstein L.P. owned approximately 0.32% of Owens & Minor worth $3,208,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of OMI. Blue Trust Inc. lifted its holdings in shares of Owens & Minor by 57.4% in the fourth quarter. Blue Trust Inc. now owns 4,387 shares of the company's stock valued at $57,000 after purchasing an additional 1,600 shares in the last quarter. KBC Group NV raised its position in Owens & Minor by 98.2% in the 4th quarter. KBC Group NV now owns 4,434 shares of the company's stock valued at $58,000 after buying an additional 2,197 shares during the last quarter. Inspire Advisors LLC lifted its stake in Owens & Minor by 11.2% during the 4th quarter. Inspire Advisors LLC now owns 15,350 shares of the company's stock valued at $201,000 after acquiring an additional 1,548 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in Owens & Minor during the 4th quarter worth $256,000. Finally, Wealthfront Advisers LLC bought a new stake in Owens & Minor in the 4th quarter worth about $257,000. Institutional investors and hedge funds own 98.04% of the company's stock.

Insider Activity

In related 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 bought at an average cost of $9.19 per share, for a total transaction of $3,261,540.19. Following the completion of the transaction, the insider now owns 9,824,599 shares of the company's stock, valued at approximately $90,288,064.81. The trade was a 3.75 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders acquired 2,718,412 shares of company stock worth $24,495,308. 3.69% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts recently commented on the company. UBS Group decreased their price target on Owens & Minor from $25.00 to $13.00 and set a "buy" rating for the company in a research report on Thursday, February 13th. Citigroup cut their price target on shares of Owens & Minor from $13.00 to $11.00 and set a "buy" rating on the stock in a report on Thursday. JPMorgan Chase & Co. reduced 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 report on Monday, March 10th. Finally, Robert W. Baird lifted their price target on shares of Owens & Minor from $10.00 to $11.00 and gave the stock a "neutral" rating in a report on Monday, March 3rd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Owens & Minor presently has a consensus rating of "Hold" and an average target price of $12.50.

Owens & Minor Stock Performance

OMI stock traded up $0.18 during midday trading on Friday, reaching $6.95. 1,174,379 shares of the company's stock traded hands, compared to its average volume of 1,098,567. The firm has a market capitalization of $536.54 million, a PE ratio of -10.68, a price-to-earnings-growth ratio of 0.20 and a beta of 1.02. The company has a 50-day moving average price of $8.26 and a two-hundred day moving average price of $11.51. Owens & Minor, Inc. has a 52 week low of $6.07 and a 52 week high of $25.82. 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 - Get Free Report) last released its quarterly 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 during the quarter, compared to analyst estimates of $2.68 billion. During the same period in the previous year, the business earned $0.69 EPS. The business's revenue for the quarter was up 1.5% on a year-over-year basis. As a group, equities analysts anticipate that Owens & Minor, Inc. will post 1.51 EPS for the current year.

Owens & Minor announced that its Board of Directors has authorized a share buyback program on Friday, February 28th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to purchase up to 13.6% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board believes its stock is undervalued.

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.