Connor Clark & Lunn Investment Management Ltd. Increases Position in Owens & Minor, Inc. (NYSE:OMI)

Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Owens & Minor, Inc. (NYSE:OMI - Free Report) by 35.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 301,578 shares of the company's stock after acquiring an additional 78,504 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.39% of Owens & Minor worth $3,942,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of OMI. Blue Trust Inc. increased its stake in Owens & Minor by 57.4% during the 4th 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 lifted its position in shares of Owens & Minor by 98.2% during the fourth quarter. KBC Group NV now owns 4,434 shares of the company's stock valued at $58,000 after purchasing an additional 2,197 shares in the last quarter. Meeder Asset Management Inc. boosted its holdings in Owens & Minor by 844.1% during the third quarter. Meeder Asset Management Inc. now owns 9,016 shares of the company's stock worth $141,000 after purchasing an additional 8,061 shares during the last quarter. Inspire Advisors LLC grew its position in Owens & Minor by 11.2% in the 4th quarter. Inspire Advisors LLC now owns 15,350 shares of the company's stock worth $201,000 after purchasing an additional 1,548 shares in the last quarter. Finally, Wealthfront Advisers LLC purchased a new stake in Owens & Minor in the 4th quarter valued at about $257,000. Institutional investors and hedge funds own 98.04% of the company's stock.

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Insider Buying and Selling at Owens & Minor

In other news, major shareholder Coliseum Capital Management, L bought 354,901 shares of Owens & Minor stock in a transaction on Monday, March 3rd. The shares were purchased at an average price of $9.19 per share, for a total transaction of $3,261,540.19. Following the acquisition, 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 acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 3.59% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on OMI shares. JPMorgan Chase & Co. dropped their price target on Owens & Minor from $14.00 to $10.00 and set an "underweight" rating on the stock in a report on Monday, March 10th. Robert W. Baird lifted their target price on Owens & Minor from $10.00 to $11.00 and gave the stock a "neutral" rating in a research note on Monday, March 3rd. Finally, 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 research note on Thursday, February 13th. Two equities research 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's stock. According to data from MarketBeat.com, Owens & Minor currently has a consensus rating of "Hold" and an average target price of $13.75.

Owens & Minor Trading Down 5.6 %

Owens & Minor stock traded down $0.57 during trading hours on Thursday, reaching $9.53. The stock had a trading volume of 889,673 shares, compared to its average volume of 1,616,105. The stock has a market cap of $735.78 million, a PE ratio of -14.65, a PEG ratio of 0.20 and a beta of 0.61. The company has a fifty day simple moving average of $10.62 and a 200-day simple moving average of $12.68. 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, Inc. has a 52 week low of $6.07 and a 52 week 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, beating analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $2.68 billion. During the same quarter in the prior year, the company posted $0.69 EPS. Owens & Minor's quarterly revenue was up 1.5% compared to the same quarter last year. Analysts forecast that Owens & Minor, Inc. will post 1.51 EPS for the current fiscal year.

Owens & Minor declared that its board has initiated a share repurchase program on Friday, February 28th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to reacquire up to 13.6% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's management believes its shares are undervalued.

Owens & Minor 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.