Inspire Advisors LLC Takes $217,000 Position in Owens & Minor, Inc. (NYSE:OMI)

Inspire Advisors LLC bought a new position in shares of Owens & Minor, Inc. (NYSE:OMI) during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund bought 13,802 shares of the company’s stock, valued at approximately $217,000.

A number of other large investors have also modified their holdings of OMI. GAMMA Investing LLC increased its stake in shares of Owens & Minor by 52.1% in the first quarter. GAMMA Investing LLC now owns 1,644 shares of the company’s stock worth $46,000 after acquiring an additional 563 shares during the period. Riverview Trust Co purchased a new position in Owens & Minor during the first quarter valued at approximately $25,000. Hexagon Capital Partners LLC lifted its holdings in Owens & Minor by 1,240.2% in the first quarter. Hexagon Capital Partners LLC now owns 1,568 shares of the company’s stock valued at $43,000 after acquiring an additional 1,451 shares during the period. Allspring Global Investments Holdings LLC grew its stake in shares of Owens & Minor by 43,142.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,027 shares of the company’s stock worth $84,000 after purchasing an additional 3,020 shares during the period. Finally, BNP Paribas Financial Markets lifted its stake in shares of Owens & Minor by 118.2% in the 1st quarter. BNP Paribas Financial Markets now owns 47,587 shares of the company’s stock valued at $1,319,000 after purchasing an additional 25,779 shares during the period. Hedge funds and other institutional investors own 98.04% of the company’s stock.

Owens & Minor Trading Down 0.4 %

Shares of Owens & Minor stock opened at $14.01 on Friday. The stock has a 50 day moving average of $15.12 and a 200 day moving average of $17.23. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.51 and a current ratio of 1.09. The firm has a market capitalization of $1.08 billion, a price-to-earnings ratio of -25.02, a PEG ratio of 0.44 and a beta of 0.39. Owens & Minor, Inc. has a fifty-two week low of $12.36 and a fifty-two week high of $28.35.

Owens & Minor (NYSE:OMI) last released its quarterly earnings results on Friday, August 2nd. The company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.03. The business had revenue of $2.67 billion during the quarter, compared to analysts’ expectations of $2.65 billion. Owens & Minor had a positive return on equity of 14.66% and a negative net margin of 0.40%. The company’s revenue was up 4.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.18 EPS. As a group, research analysts predict that Owens & Minor, Inc. will post 1.57 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Citigroup raised shares of Owens & Minor from a “neutral” rating to a “buy” rating and cut their price objective for the company from $24.00 to $19.00 in a report on Friday, July 19th. Robert W. Baird reduced their target price on Owens & Minor from $20.00 to $19.00 and set a “neutral” rating for the company in a research note on Tuesday, July 16th. StockNews.com lowered shares of Owens & Minor from a “buy” rating to a “hold” rating in a report on Monday, August 26th. Bank of America dropped their target price on shares of Owens & Minor from $18.00 to $16.00 and set an “underperform” rating on the stock in a research report on Tuesday, June 25th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Owens & Minor from $22.00 to $18.00 and set an “underweight” rating on the stock in a research note on Wednesday, August 21st. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $20.00.

About Owens & Minor

Owens & Minor, Inc, together with its subsidiaries, operates as a healthcare solutions company worldwide. It operates through Products & Healthcare Services and Patient Direct segments. The Products & Healthcare Services segment offers a portfolio of products and services to healthcare providers and manufacturers.