Principal Financial Group Inc. Sells 13,443 Shares of Owens & Minor, Inc. (NYSE:OMI)

Principal Financial Group Inc. cut its position in shares of Owens & Minor, Inc. (NYSE:OMI) by 3.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 348,755 shares of the company’s stock after selling 13,443 shares during the quarter. Principal Financial Group Inc.’s holdings in Owens & Minor were worth $5,472,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quarry LP lifted its holdings in shares of Owens & Minor by 290.1% during the 2nd quarter. Quarry LP now owns 2,099 shares of the company’s stock worth $28,000 after acquiring an additional 1,561 shares during the period. DekaBank Deutsche Girozentrale boosted its holdings in Owens & Minor by 76.6% during the second quarter. DekaBank Deutsche Girozentrale now owns 3,126 shares of the company’s stock valued at $43,000 after purchasing an additional 1,356 shares in the last quarter. Blue Trust Inc. grew its stake in shares of Owens & Minor by 176.8% in the 3rd quarter. Blue Trust Inc. now owns 2,787 shares of the company’s stock valued at $44,000 after purchasing an additional 1,780 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in shares of Owens & Minor by 100.6% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 6,071 shares of the company’s stock worth $82,000 after buying an additional 3,044 shares in the last quarter. Finally, Canada Pension Plan Investment Board bought a new position in shares of Owens & Minor during the 2nd quarter worth approximately $82,000. 98.04% of the stock is currently owned by institutional investors.

Owens & Minor Price Performance

OMI opened at $13.07 on Thursday. The company has a debt-to-equity ratio of 2.11, a current ratio of 1.09 and a quick ratio of 0.45. The company’s 50 day simple moving average is $13.12 and its 200-day simple moving average is $14.33. Owens & Minor, Inc. has a one year low of $11.42 and a one year high of $28.35. The stock has a market capitalization of $1.01 billion, a P/E ratio of -20.11, a price-to-earnings-growth ratio of 0.48 and a beta of 0.42.

Owens & Minor (NYSE:OMI) last released its earnings results on Monday, November 4th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.41 by $0.01. The company had revenue of $2.72 billion during the quarter, compared to analysts’ expectations of $2.68 billion. Owens & Minor had a positive return on equity of 14.60% and a negative net margin of 0.46%. The business’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period last year, the firm earned $0.44 EPS. Sell-side analysts anticipate that Owens & Minor, Inc. will post 1.49 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Barclays lowered their price target on Owens & Minor from $18.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 5th. UBS Group dropped their target price on shares of Owens & Minor from $28.00 to $25.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Robert W. Baird reduced their price target on shares of Owens & Minor from $19.00 to $14.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 5th. Finally, Citigroup dropped their price objective on shares of Owens & Minor from $21.00 to $18.50 and set a “buy” rating for the company in a report on Tuesday, November 5th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $18.50.

Insider Activity

In related news, CFO Jonathan A. Leon sold 5,282 shares of Owens & Minor stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $11.82, for a total transaction of $62,433.24. Following the transaction, the chief financial officer now owns 130,822 shares of the company’s stock, valued at $1,546,316.04. This trade represents a 3.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 3.59% of the stock is currently owned by company insiders.

Owens & Minor Company Profile

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.