Louisiana State Employees Retirement System Decreases Holdings in Owens & Minor, Inc. (NYSE:OMI)

Louisiana State Employees Retirement System cut its holdings in shares of Owens & Minor, Inc. (NYSE:OMI) by 3.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 35,700 shares of the company’s stock after selling 1,200 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Owens & Minor were worth $560,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Quarry LP grew its stake 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. Blue Trust Inc. grew its holdings in Owens & Minor by 176.8% during the 3rd quarter. Blue Trust Inc. now owns 2,787 shares of the company’s stock valued at $44,000 after buying an additional 1,780 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in 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 valued at $84,000 after buying an additional 3,020 shares in the last quarter. DekaBank Deutsche Girozentrale grew its holdings in Owens & Minor by 76.6% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 3,126 shares of the company’s stock valued at $43,000 after buying an additional 1,356 shares in the last quarter. Finally, Innealta Capital LLC purchased a new position in Owens & Minor during the 2nd quarter valued at about $43,000. 98.04% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on OMI shares. Citigroup cut their price objective on Owens & Minor from $21.00 to $18.50 and set a “buy” rating for the company in a report on Tuesday. Barclays cut their price objective on Owens & Minor from $18.00 to $14.00 and set an “equal weight” rating for the company in a report on Tuesday. StockNews.com lowered Owens & Minor from a “buy” rating to a “hold” rating in a report on Monday, August 26th. UBS Group dropped their target price on Owens & Minor from $28.00 to $25.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, Robert W. Baird dropped their target price on Owens & Minor from $19.00 to $14.00 and set a “neutral” rating for the company in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $18.50.

Owens & Minor Stock Performance

NYSE:OMI opened at $11.78 on Wednesday. The company has a debt-to-equity ratio of 2.17, a current ratio of 1.09 and a quick ratio of 0.51. Owens & Minor, Inc. has a 1-year low of $11.42 and a 1-year high of $28.35. The business has a 50 day moving average of $14.54 and a 200 day moving average of $16.19. The company has a market capitalization of $908.24 million, a price-to-earnings ratio of -21.04, a PEG ratio of 0.43 and a beta of 0.41.

Owens & Minor (NYSE:OMI) last announced its earnings results on Monday, November 4th. The company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.01. The company had revenue of $2.72 billion during the quarter, compared to the consensus estimate of $2.68 billion. Owens & Minor had a positive return on equity of 14.66% and a negative net margin of 0.40%. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.44 earnings per share. On average, sell-side analysts predict that Owens & Minor, Inc. will post 1.57 earnings per share for the current fiscal year.

Owens & Minor 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.