Connor Clark & Lunn Investment Management Ltd. Purchases 78,504 Shares of Owens & Minor, Inc. (NYSE:OMI)

Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Owens & Minor, Inc. (NYSE:OMI) by 35.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor 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. owned about 0.39% of Owens & Minor worth $3,942,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Blue Trust Inc. increased its stake in Owens & Minor by 57.4% during the 4th quarter. Blue Trust Inc. now owns 4,387 shares of the company’s stock valued at $57,000 after purchasing an additional 1,600 shares in the last quarter. KBC Group NV increased 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 valued at $58,000 after purchasing an additional 2,197 shares in the last quarter. Meeder Asset Management Inc. increased its stake in Owens & Minor by 844.1% during the 3rd quarter. Meeder Asset Management Inc. now owns 9,016 shares of the company’s stock valued at $141,000 after purchasing an additional 8,061 shares in the last quarter. Inspire Advisors LLC increased its stake in Owens & Minor by 11.2% during the 4th 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 in the last quarter. Finally, Wealthfront Advisers LLC acquired a new position in Owens & Minor during the 4th quarter valued at approximately $257,000. Institutional investors own 98.04% of the company’s stock.

Owens & Minor Stock Up 1.6 %

OMI stock opened at $9.40 on Monday. The firm’s fifty day simple moving average is $10.86 and its 200-day simple moving average is $12.78. The company has a market capitalization of $726.04 million, a P/E ratio of -14.46, a price-to-earnings-growth ratio of 0.20 and a beta of 0.61. The company has a debt-to-equity ratio of 2.11, a current ratio of 1.09 and a quick ratio of 0.45. Owens & Minor, Inc. has a 12 month low of $6.07 and a 12 month high of $28.35.

Owens & Minor (NYSE:OMI) last announced its quarterly earnings results 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 period in the prior year, the firm posted $0.69 earnings per share. The firm’s quarterly revenue was up 1.5% compared to the same quarter last year. As a group, equities research analysts forecast that Owens & Minor, Inc. will post 1.51 earnings per share for the current year.

Owens & Minor declared that its board has initiated a stock buyback plan on Friday, February 28th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 13.6% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on OMI. UBS Group cut their price target on shares of Owens & Minor from $25.00 to $13.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. JPMorgan Chase & Co. cut their price target on shares of Owens & Minor from $14.00 to $10.00 and set an “underweight” rating on the stock in a research note on Monday, March 10th. Finally, Robert W. Baird upped their price objective 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. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $13.75.

Insider Buying and Selling

In other news, major shareholder Coliseum Capital Management, L purchased 354,901 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were purchased at an average cost of $9.19 per share, with a total value of $3,261,540.19. Following the completion of the acquisition, the insider now owns 9,824,599 shares of the company’s stock, valued at approximately $90,288,064.81. This represents a 3.75 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.59% of the stock is currently owned by insiders.

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.