Corebridge Financial Inc. Reduces Stock Position in Owens & Minor, Inc. (NYSE:OMI)

Corebridge Financial Inc. trimmed its position in Owens & Minor, Inc. (NYSE:OMI) by 7.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 40,107 shares of the company’s stock after selling 3,129 shares during the period. Corebridge Financial Inc.’s holdings in Owens & Minor were worth $524,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its holdings in shares of Owens & Minor by 13.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,305,043 shares of the company’s stock worth $30,127,000 after purchasing an additional 276,807 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Owens & Minor by 68.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 376,830 shares of the company’s stock worth $5,912,000 after buying an additional 152,999 shares during the last quarter. Vanguard Group Inc. grew its holdings in Owens & Minor by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 8,915,756 shares of the company’s stock valued at $116,529,000 after buying an additional 107,092 shares during the period. Barclays PLC increased its stake in shares of Owens & Minor by 354.8% during the 3rd quarter. Barclays PLC now owns 133,702 shares of the company’s stock valued at $2,099,000 after acquiring an additional 104,305 shares during the last quarter. Finally, Jane Street Group LLC lifted its holdings in shares of Owens & Minor by 126.0% during the 3rd quarter. Jane Street Group LLC now owns 186,280 shares of the company’s stock worth $2,923,000 after acquiring an additional 103,871 shares during the period. 98.04% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Owens & Minor

In related news, major shareholder Coliseum Capital Management, L bought 1,738,511 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The shares were acquired at an average cost of $9.39 per share, for a total transaction of $16,324,618.29. Following the acquisition, 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 position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Insiders purchased 2,493,412 shares of company stock valued at $22,832,558 over the last quarter. Company insiders own 3.59% of the company’s stock.

Owens & Minor Trading Down 4.1 %

Shares of OMI stock opened at $7.80 on Wednesday. The company has a quick ratio of 0.45, a current ratio of 1.09 and a debt-to-equity ratio of 2.11. Owens & Minor, Inc. has a fifty-two week low of $6.07 and a fifty-two week high of $27.24. The firm’s 50 day moving average price is $8.81 and its two-hundred day moving average price is $11.98. The stock has a market cap of $602.53 million, a price-to-earnings ratio of -12.00, a price-to-earnings-growth ratio of 0.20 and a beta of 1.02.

Owens & Minor (NYSE:OMI) last posted its earnings results on Friday, February 28th. The company reported $0.55 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $2.68 billion. During the same quarter in the previous year, the business posted $0.69 EPS. The business’s quarterly revenue was up 1.5% on a year-over-year basis. On average, analysts anticipate that Owens & Minor, Inc. will post 1.51 EPS for the current year.

Owens & Minor announced that its board has initiated a share repurchase plan on Friday, February 28th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 13.6% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on OMI shares. Robert W. Baird boosted their target price on shares of Owens & Minor from $10.00 to $11.00 and gave the company a “neutral” rating in a report on Monday, March 3rd. JPMorgan Chase & Co. dropped 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. Finally, UBS Group reduced their target price on Owens & Minor from $25.00 to $13.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $13.75.

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.