Owens & Minor (NYSE:OMI) Trading Up 3.8% After Insider Buying Activity

Shares of Owens & Minor, Inc. (NYSE:OMI - Get Free Report) rose 3.8% on Tuesday after an insider bought additional shares in the company. The company traded as high as $9.63 and last traded at $9.68. Approximately 433,222 shares changed hands during mid-day trading, a decline of 73% from the average daily volume of 1,623,577 shares. The stock had previously closed at $9.32.

Specifically, major shareholder Coliseum Capital Management, L purchased 354,901 shares of the firm's stock in a transaction on Monday, March 3rd. The stock was acquired at an average cost of $9.19 per share, with a total value of $3,261,540.19. Following the completion of the transaction, the insider now owns 9,824,599 shares in the company, valued at $90,288,064.81. This represents a 3.75 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Coliseum Capital Management, L acquired 1,738,511 shares of the business's stock in a transaction dated Friday, February 28th. The stock was purchased at an average cost 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 approximately $88,920,464.22. The trade was a 22.49 % increase in their ownership of the stock. The disclosure for this purchase can be found here.

Wall Street Analyst Weigh In

Several brokerages have weighed in on OMI. Robert W. Baird raised their target price on shares of Owens & Minor from $10.00 to $11.00 and gave the company a "neutral" rating in a research note on Monday, March 3rd. UBS Group lowered their price objective 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. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $15.08.

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Owens & Minor Stock Performance

The stock has a market capitalization of $772.08 million, a price-to-earnings ratio of -15.38, a P/E/G ratio of 0.20 and a beta of 0.61. 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 has a 50-day moving average of $11.26 and a 200-day moving average of $13.09.

Owens & Minor (NYSE:OMI - Get Free Report) last announced its quarterly earnings data on Friday, February 28th. The company reported $0.55 earnings per share 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 for the quarter, compared to analyst estimates of $2.68 billion. During the same period in the prior year, the company earned $0.69 earnings per share. The company's revenue was up 1.5% on a year-over-year basis. As a group, sell-side analysts predict that Owens & Minor, Inc. will post 1.51 earnings per share for the current year.

Owens & Minor announced that its Board of Directors has approved a stock repurchase plan on Friday, February 28th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to purchase up to 13.6% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's management believes its stock is undervalued.

Institutional Trading of Owens & Minor

Several large investors have recently made changes to their positions in OMI. Coliseum Capital Management LLC raised its holdings in shares of Owens & Minor by 31.3% during the fourth quarter. Coliseum Capital Management LLC now owns 4,785,964 shares of the company's stock worth $62,553,000 after purchasing an additional 1,141,483 shares during the last quarter. Freestone Grove Partners LP acquired a new stake in Owens & Minor during the 4th quarter worth about $5,125,000. Foundry Partners LLC purchased a new position in shares of Owens & Minor during the 3rd quarter valued at about $5,238,000. Charles Schwab Investment Management Inc. lifted its holdings 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 period. Finally, Deutsche Bank AG boosted its stake in shares of Owens & Minor by 77.0% in the fourth quarter. Deutsche Bank AG now owns 495,111 shares of the company's stock worth $6,471,000 after buying an additional 215,455 shares during the last quarter. 98.04% of the stock is owned by hedge funds and other institutional investors.

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.