JPMorgan Chase & Co. Grows Position in Owens & Minor, Inc. (NYSE:OMI)

JPMorgan Chase & Co. lifted its stake in shares of Owens & Minor, Inc. (NYSE:OMI - Free Report) by 29.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 488,497 shares of the company's stock after acquiring an additional 111,667 shares during the period. JPMorgan Chase & Co. owned 0.63% of Owens & Minor worth $6,385,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. State Street Corp lifted its stake in Owens & Minor by 2.6% during the third quarter. State Street Corp now owns 3,064,547 shares of the company's stock worth $48,083,000 after purchasing an additional 78,985 shares in the last quarter. Jane Street Group LLC lifted its position in shares of Owens & Minor by 126.0% during the third quarter. Jane Street Group LLC now owns 186,280 shares of the company's stock worth $2,923,000 after purchasing an additional 103,871 shares in the last quarter. Barclays PLC boosted its stake in shares of Owens & Minor by 354.8% in the third quarter. Barclays PLC now owns 133,702 shares of the company's stock valued at $2,099,000 after purchasing an additional 104,305 shares during the period. Geode Capital Management LLC grew its holdings in shares of Owens & Minor by 0.8% in the third quarter. Geode Capital Management LLC now owns 1,711,453 shares of the company's stock valued at $26,858,000 after purchasing an additional 13,164 shares in the last quarter. Finally, Franklin Resources Inc. increased its stake in Owens & Minor by 6.5% during the 3rd quarter. Franklin Resources Inc. now owns 61,223 shares of the company's stock worth $961,000 after buying an additional 3,743 shares during the period. 98.04% of the stock is currently owned by institutional investors and hedge funds.

Owens & Minor Stock Down 6.1 %

Shares of NYSE:OMI traded down $0.42 during trading on Monday, hitting $6.51. 1,322,917 shares of the company were exchanged, compared to its average volume of 1,102,580. Owens & Minor, Inc. has a 12-month low of $6.07 and a 12-month high of $25.82. The stock has a market capitalization of $502.93 million, a P/E ratio of -10.02, a PEG ratio of 0.20 and a beta of 1.02. The company has a debt-to-equity ratio of 2.11, a current ratio of 1.09 and a quick ratio of 0.45. The firm's 50 day moving average price is $8.26 and its 200-day moving average price is $11.47.

Owens & Minor (NYSE:OMI - Get Free Report) last posted its 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 for the quarter, compared to analysts' expectations of $2.68 billion. Owens & Minor had a positive return on equity of 14.60% and a negative net margin of 0.46%. The business's revenue was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.69 earnings per share. On average, research analysts predict that Owens & Minor, Inc. will post 1.51 earnings per share for the current fiscal year.

Owens & Minor announced that its Board of Directors has authorized a share buyback plan on Friday, February 28th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 13.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's management believes its shares are undervalued.

Insider Transactions at Owens & Minor

In other news, major shareholder Coliseum Capital Management, L acquired 1,738,511 shares of the business's stock in a transaction 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 owns 9,469,698 shares in the company, valued at $88,920,464.22. This represents a 22.49 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last quarter, insiders acquired 2,718,412 shares of company stock worth $24,495,308. Company insiders own 3.69% of the company's stock.

Wall Street Analysts Forecast Growth

OMI has been the subject of several recent research reports. UBS Group decreased their price target on shares of Owens & Minor from $25.00 to $13.00 and set a "buy" rating for the company in a research report on Thursday, February 13th. JPMorgan Chase & Co. lowered their target price on Owens & Minor from $14.00 to $10.00 and set an "underweight" rating for the company in a research note on Monday, March 10th. Robert W. Baird lifted their price objective on Owens & Minor from $10.00 to $11.00 and gave the company a "neutral" rating in a research note on Monday, March 3rd. Finally, Citigroup lowered their price objective on Owens & Minor from $13.00 to $11.00 and set a "buy" rating for the company in a research report on Thursday. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Owens & Minor currently has a consensus rating of "Hold" and a consensus target price of $12.50.

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.