Gabelli Funds LLC Boosts Stock Position in Owens & Minor, Inc. (NYSE:OMI)

Gabelli Funds LLC boosted its position in Owens & Minor, Inc. (NYSE:OMI - Free Report) by 81.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 326,000 shares of the company's stock after purchasing an additional 146,000 shares during the period. Gabelli Funds LLC owned approximately 0.42% of Owens & Minor worth $4,261,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of OMI. Guggenheim Capital LLC purchased a new position in Owens & Minor during the 4th quarter valued at $166,000. Optimize Financial Inc bought a new position in shares of Owens & Minor in the fourth quarter worth about $184,000. Sterling Capital Management LLC grew its holdings in shares of Owens & Minor by 758.3% in the fourth quarter. Sterling Capital Management LLC now owns 2,060 shares of the company's stock worth $27,000 after purchasing an additional 1,820 shares during the last quarter. Kennedy Capital Management LLC increased its stake in Owens & Minor by 15.5% in the 4th quarter. Kennedy Capital Management LLC now owns 1,216,859 shares of the company's stock worth $15,904,000 after buying an additional 163,184 shares during the period. Finally, Legal & General Group Plc lifted its holdings in Owens & Minor by 0.9% during the 4th quarter. Legal & General Group Plc now owns 212,061 shares of the company's stock valued at $2,772,000 after buying an additional 1,991 shares in the last quarter. Hedge funds and other institutional investors own 98.04% of the company's stock.

Insider Transactions at Owens & Minor

In other Owens & Minor news, major shareholder Coliseum Capital Management, L purchased 1,738,511 shares of the company's stock in a transaction dated Friday, February 28th. The shares were acquired at an average price of $9.39 per share, for a total transaction of $16,324,618.29. Following the completion of the purchase, the insider now owns 9,469,698 shares of the company's stock, valued at approximately $88,920,464.22. The trade was a 22.49 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders acquired 2,718,412 shares of company stock valued at $24,495,308 in the last quarter. 3.69% of the stock is currently owned by corporate insiders.

Owens & Minor Stock Down 6.1 %

OMI traded down $0.42 on Monday, hitting $6.51. The company had a trading volume of 1,322,917 shares, compared to its average volume of 1,102,580. The stock has a market capitalization of $502.93 million, a price-to-earnings ratio of -10.02, a P/E/G ratio of 0.20 and a beta of 1.02. The stock has a fifty day moving average price of $8.26 and a 200-day moving average price of $11.47. Owens & Minor, Inc. has a 12-month low of $6.07 and a 12-month 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 issued its quarterly earnings data on Friday, February 28th. The company reported $0.55 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $2.68 billion. During the same quarter in the previous year, the firm earned $0.69 EPS. The company's quarterly revenue was up 1.5% compared to the same quarter last year. Analysts predict that Owens & Minor, Inc. will post 1.51 EPS for the current fiscal year.

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

Wall Street Analysts Forecast Growth

OMI has been the topic of a number of research reports. Citigroup reduced their target price on shares of Owens & Minor from $13.00 to $11.00 and set a "buy" rating on the stock in a research report on Thursday. UBS Group decreased their target price 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. Robert W. Baird increased their price target on Owens & Minor from $10.00 to $11.00 and gave the stock a "neutral" rating in a research report on Monday, March 3rd. Finally, JPMorgan Chase & Co. decreased their price objective 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 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. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $12.50.

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.