Prudential Financial Inc. Trims Position in Owens & Minor, Inc. (NYSE:OMI)

Prudential Financial Inc. trimmed its holdings in shares of Owens & Minor, Inc. (NYSE:OMI - Free Report) by 15.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 174,802 shares of the company's stock after selling 32,850 shares during the period. Prudential Financial Inc. owned 0.23% of Owens & Minor worth $2,285,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Inspire Advisors LLC increased its stake in Owens & Minor by 11.2% in the fourth quarter. Inspire Advisors LLC now owns 15,350 shares of the company's stock valued at $201,000 after purchasing an additional 1,548 shares during the last quarter. Blue Trust Inc. grew its position in shares of Owens & Minor by 57.4% in the 4th quarter. Blue Trust Inc. now owns 4,387 shares of the company's stock valued at $57,000 after buying an additional 1,600 shares during the last quarter. KBC Group NV raised its stake in Owens & Minor by 98.2% during the 4th quarter. KBC Group NV now owns 4,434 shares of the company's stock worth $58,000 after acquiring an additional 2,197 shares in the last quarter. Linden Thomas Advisory Services LLC lifted its position in Owens & Minor by 16.3% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 26,302 shares of the company's stock valued at $344,000 after acquiring an additional 3,688 shares during the last quarter. Finally, Franklin Resources Inc. boosted its stake in Owens & Minor by 6.5% in the third quarter. Franklin Resources Inc. now owns 61,223 shares of the company's stock valued at $961,000 after acquiring an additional 3,743 shares in the last quarter. 98.04% of the stock is owned by institutional investors and hedge funds.

Owens & Minor Stock Performance

OMI traded down $0.33 on Tuesday, hitting $7.80. 1,391,204 shares of the company traded hands, compared to its average volume of 1,044,861. Owens & Minor, Inc. has a 12-month low of $6.07 and a 12-month high of $27.24. The company has a quick ratio of 0.45, a current ratio of 1.09 and a debt-to-equity ratio of 2.11. The company has a 50 day moving average of $8.81 and a 200-day moving average of $11.98. The stock has a market capitalization of $602.53 million, a PE ratio of -12.00, a PEG ratio of 0.20 and a beta of 1.02.

Owens & Minor (NYSE:OMI - Get Free Report) last announced 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. Owens & Minor had a negative net margin of 0.46% and a positive return on equity of 14.60%. The company had revenue of $2.70 billion during the quarter, compared to the consensus estimate of $2.68 billion. During the same quarter in the prior year, the firm earned $0.69 EPS. Owens & Minor's quarterly revenue was up 1.5% on a year-over-year basis. Sell-side analysts anticipate that Owens & Minor, Inc. will post 1.51 earnings per share for the current year.

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

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on OMI. 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 report on Monday, March 3rd. UBS Group cut their price target on Owens & Minor from $25.00 to $13.00 and set a "buy" rating on the stock in a research report on Thursday, February 13th. 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 given a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $13.75.

Insider Activity

In other news, major shareholder Coliseum Capital Management, L bought 1,738,511 shares of the stock in a transaction on Friday, February 28th. The shares were bought at an average price of $9.39 per share, with a total value of $16,324,618.29. Following the completion of the acquisition, the insider now owns 9,469,698 shares of the company's stock, valued at approximately $88,920,464.22. This trade represents a 22.49 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders purchased 2,493,412 shares of company stock worth $22,832,558 in the last 90 days. 3.59% of the stock is currently owned by corporate insiders.

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.