Invesco Ltd. Reduces Stake in Owens & Minor, Inc. (NYSE:OMI)

Invesco Ltd. decreased its holdings in Owens & Minor, Inc. (NYSE:OMI - Free Report) by 14.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,431,835 shares of the company's stock after selling 250,209 shares during the quarter. Invesco Ltd. owned approximately 1.86% of Owens & Minor worth $18,714,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Charles Schwab Investment Management Inc. grew its position in shares of Owens & Minor by 13.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,305,043 shares of the company's stock valued at $30,127,000 after buying an additional 276,807 shares during the last quarter. Norges Bank acquired a new position in shares of Owens & Minor in the fourth quarter worth approximately $2,465,000. JPMorgan Chase & Co. boosted its holdings in 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 acquiring an additional 152,999 shares during the last quarter. Vanguard Group Inc. increased its position in Owens & Minor by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 8,915,756 shares of the company's stock valued at $116,529,000 after purchasing an additional 107,092 shares during the period. Finally, Barclays PLC lifted its position in shares of Owens & Minor by 354.8% in the 3rd quarter. Barclays PLC now owns 133,702 shares of the company's stock worth $2,099,000 after purchasing an additional 104,305 shares during the period. 98.04% of the stock is currently owned by institutional investors and hedge funds.

Owens & Minor Stock Up 5.1 %

OMI traded up $0.34 during trading on Thursday, hitting $6.99. 162,469 shares of the company's stock were exchanged, compared to its average volume of 1,103,097. The company has a quick ratio of 0.45, a current ratio of 1.09 and a debt-to-equity ratio of 2.11. Owens & Minor, Inc. has a fifty-two week low of $6.07 and a fifty-two week high of $25.72. The stock has a market cap of $539.70 million, a P/E ratio of -10.73, a PEG ratio of 0.20 and a beta of 1.02. The business's 50 day moving average is $8.19 and its two-hundred day moving average is $11.35.

Owens & Minor (NYSE:OMI - Get Free Report) last issued its quarterly earnings data on Friday, February 28th. The company reported $0.55 EPS for the quarter, topping analysts' consensus estimates of $0.53 by $0.02. The firm had revenue of $2.70 billion during the quarter, compared to analyst estimates of $2.68 billion. Owens & Minor had a positive return on equity of 14.60% and a negative net margin of 0.46%. The company's revenue for the quarter was up 1.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.69 EPS. As a group, equities analysts expect that Owens & Minor, Inc. will post 1.51 earnings per share for the current fiscal year.

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

Analyst Upgrades and Downgrades

OMI has been the subject of several recent analyst reports. Robert W. Baird increased their price objective on shares of 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 decreased their price target on Owens & Minor from $25.00 to $13.00 and set a "buy" rating for the company in a report on Thursday, February 13th. JPMorgan Chase & Co. dropped their price objective on Owens & Minor from $14.00 to $10.00 and set an "underweight" rating on the stock in a research note on Monday, March 10th. Finally, Citigroup decreased their target price on Owens & Minor from $13.00 to $11.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Two 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 stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $12.50.

Insider Activity

In other Owens & Minor news, major shareholder Coliseum Capital Management, L bought 1,738,511 shares of Owens & Minor stock in a transaction dated Friday, February 28th. The stock was bought at an average cost of $9.39 per share, with a total value 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders bought a total of 2,718,412 shares of company stock worth $24,495,308 over the last quarter. Insiders own 3.69% of the company's stock.

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.