Connor Clark & Lunn Investment Management Ltd. Boosts Holdings in Owens & Minor, Inc. (NYSE:OMI)

Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Owens & Minor, Inc. (NYSE:OMI) by 35.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 301,578 shares of the company’s stock after acquiring an additional 78,504 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Owens & Minor were worth $3,942,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in OMI. Inspire Advisors LLC raised its position in shares of 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 buying an additional 1,548 shares during the last quarter. Blue Trust Inc. raised its position in shares of Owens & Minor by 57.4% in the fourth 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 position in shares of Owens & Minor by 98.2% in the fourth quarter. KBC Group NV now owns 4,434 shares of the company’s stock valued at $58,000 after buying an additional 2,197 shares during the last quarter. Segall Bryant & Hamill LLC raised its position in shares of Owens & Minor by 2.1% in the third quarter. Segall Bryant & Hamill LLC now owns 137,199 shares of the company’s stock valued at $2,153,000 after buying an additional 2,883 shares during the last quarter. Finally, Linden Thomas Advisory Services LLC raised its position in shares of 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 buying an additional 3,688 shares during the last quarter. 98.04% of the stock is owned by hedge funds and other institutional investors.

Owens & Minor Price Performance

Owens & Minor stock opened at $9.40 on Monday. Owens & Minor, Inc. has a 12-month low of $6.07 and a 12-month high of $28.35. The stock has a market cap of $726.04 million, a P/E ratio of -14.46, a PEG ratio of 0.20 and a beta of 0.61. The company has a 50-day moving average price of $10.86 and a 200 day moving average price of $12.78. The company has a current ratio of 1.09, a quick ratio of 0.45 and a debt-to-equity ratio of 2.11.

Owens & Minor (NYSE:OMI) last announced its quarterly earnings results 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 negative net margin of 0.46% and a positive return on equity of 14.60%. The business had revenue of $2.70 billion during the quarter, compared to analysts’ expectations of $2.68 billion. During the same period last year, the business earned $0.69 earnings per share. The business’s revenue for the quarter 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 approved a stock buyback plan on Friday, February 28th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to buy up to 13.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling at Owens & Minor

In related news, major shareholder Coliseum Capital Management, L purchased 354,901 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was acquired at an average cost of $9.19 per share, for a total transaction of $3,261,540.19. Following the completion of the transaction, the insider now directly owns 9,824,599 shares in the company, valued at approximately $90,288,064.81. The trade was a 3.75 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 3.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on OMI. Robert W. Baird increased their target price on shares of Owens & Minor from $10.00 to $11.00 and gave the company a “neutral” rating in a research report on Monday, March 3rd. UBS Group reduced their target price 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. Finally, JPMorgan Chase & Co. cut their price objective on shares of Owens & Minor from $14.00 to $10.00 and set an “underweight” rating for the company in a research report on Monday, March 10th. 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 company’s stock. According to MarketBeat, Owens & Minor currently has an average rating of “Hold” and an average price target of $13.75.

Owens & Minor 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.