Charles Schwab Investment Management Inc. Grows Stock Position in Owens & Minor, Inc. (NYSE:OMI)

Charles Schwab Investment Management Inc. lifted its stake in shares of Owens & Minor, Inc. (NYSE:OMI - Free Report) by 13.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,305,043 shares of the company's stock after purchasing an additional 276,807 shares during the period. Charles Schwab Investment Management Inc. owned 2.99% of Owens & Minor worth $30,127,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of OMI. Blue Trust Inc. raised its stake in Owens & Minor by 57.4% in the 4th quarter. Blue Trust Inc. now owns 4,387 shares of the company's stock valued at $57,000 after acquiring an additional 1,600 shares during the period. KBC Group NV increased its stake in shares of Owens & Minor by 98.2% in the fourth quarter. KBC Group NV now owns 4,434 shares of the company's stock worth $58,000 after purchasing an additional 2,197 shares in the last quarter. Meeder Asset Management Inc. raised its position in shares of Owens & Minor by 844.1% in the third quarter. Meeder Asset Management Inc. now owns 9,016 shares of the company's stock valued at $141,000 after purchasing an additional 8,061 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its stake in shares of Owens & Minor by 34.2% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 25,917 shares of the company's stock valued at $339,000 after buying an additional 6,609 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC boosted its holdings in Owens & Minor by 16.3% in the 4th quarter. Linden Thomas Advisory Services LLC now owns 26,302 shares of the company's stock worth $344,000 after buying an additional 3,688 shares during the period. Institutional investors own 98.04% of the company's stock.

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Owens & Minor Price Performance

Shares of OMI traded down $0.60 during trading hours on Thursday, reaching $9.50. 525,885 shares of the company's stock traded hands, compared to its average volume of 951,470. 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's 50 day simple moving average is $10.62 and its 200-day simple moving average is $12.68. The stock has a market cap of $733.46 million, a PE ratio of -14.65, a price-to-earnings-growth ratio of 0.20 and a beta of 0.61. Owens & Minor, Inc. has a 12 month low of $6.07 and a 12 month high of $28.35.

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, topping analysts' consensus estimates of $0.53 by $0.02. The business had revenue of $2.70 billion during the quarter, compared to analysts' expectations of $2.68 billion. Owens & Minor had a negative net margin of 0.46% and a positive return on equity of 14.60%. The business's quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.69 EPS. Equities analysts expect that Owens & Minor, Inc. will post 1.51 EPS for the current year.

Owens & Minor announced that its Board of Directors has initiated a share buyback plan 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 shares through open market purchases. Shares repurchase plans are generally a sign that the company's board believes its shares are undervalued.

Insider Activity at Owens & Minor

In other news, major shareholder Coliseum Capital Management, L bought 1,738,511 shares of the company's stock in a transaction that occurred on Friday, February 28th. The stock was bought at an average price of $9.39 per share, for a total transaction of $16,324,618.29. Following the transaction, the insider now directly owns 9,469,698 shares of the company's stock, valued at $88,920,464.22. This represents a 22.49 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 3.59% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

OMI has been the topic of several recent research reports. Robert W. Baird increased their target price on Owens & Minor from $10.00 to $11.00 and gave the stock a "neutral" rating in a research report on Monday, March 3rd. UBS Group dropped their price objective on 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. reduced their target price on Owens & Minor from $14.00 to $10.00 and set an "underweight" rating for the company in a report on Monday, March 10th. Two research 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target 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.