Riverhead Capital Management LLC Acquires 2,428 Shares of Owens & Minor, Inc. (OMI)
Riverhead Capital Management LLC increased its position in shares of Owens & Minor, Inc. (NYSE:OMI) by 65.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,128 shares of the company’s stock after purchasing an additional 2,428 shares during the period. Riverhead Capital Management LLC’s holdings in Owens & Minor were worth $197,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in OMI. Meadow Creek Investment Management LLC boosted its stake in shares of Owens & Minor by 23.0% during the 1st quarter. Meadow Creek Investment Management LLC now owns 3,300 shares of the company’s stock worth $114,000 after purchasing an additional 616 shares during the period. Creative Planning boosted its stake in shares of Owens & Minor by 2.9% during the 2nd quarter. Creative Planning now owns 4,021 shares of the company’s stock worth $129,000 after purchasing an additional 113 shares during the period. LS Investment Advisors LLC boosted its stake in shares of Owens & Minor by 17.1% during the 2nd quarter. LS Investment Advisors LLC now owns 4,987 shares of the company’s stock worth $161,000 after purchasing an additional 727 shares during the period. North Star Investment Management Corp. boosted its stake in shares of Owens & Minor by 121.0% during the 2nd quarter. North Star Investment Management Corp. now owns 5,667 shares of the company’s stock worth $182,000 after purchasing an additional 3,103 shares during the period. Finally, Stifel Financial Corp purchased a new position in shares of Owens & Minor during the 1st quarter worth about $202,000. 97.76% of the stock is owned by hedge funds and other institutional investors.
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Owens & Minor, Inc. (NYSE:OMI) opened at 29.20 on Friday. Owens & Minor, Inc. has a 1-year low of $26.91 and a 1-year high of $37.02. The company’s 50 day moving average is $28.30 and its 200-day moving average is $31.85. The stock has a market capitalization of $1.79 billion, a PE ratio of 18.58 and a beta of 1.04.
Owens & Minor (NYSE:OMI) last announced its quarterly earnings data on Tuesday, August 1st. The company reported $0.43 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.43. Owens & Minor had a net margin of 1.02% and a return on equity of 11.64%. The firm had revenue of $2.27 billion during the quarter, compared to analyst estimates of $2.38 billion. During the same quarter in the prior year, the firm posted $0.52 earnings per share. Owens & Minor’s quarterly revenue was down 8.8% on a year-over-year basis. Analysts forecast that Owens & Minor, Inc. will post $1.92 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 15th were issued a $0.2575 dividend. This represents a $1.03 dividend on an annualized basis and a dividend yield of 3.53%. The ex-dividend date was Thursday, September 14th. Owens & Minor’s dividend payout ratio is currently 65.19%.
A number of equities analysts recently commented on the stock. BidaskClub raised shares of Owens & Minor from a “sell” rating to a “hold” rating in a research note on Thursday, June 29th. Zacks Investment Research raised shares of Owens & Minor from a “sell” rating to a “hold” rating in a research note on Wednesday, July 5th. Jefferies Group LLC reaffirmed a “hold” rating and set a $36.00 price target on shares of Owens & Minor in a research note on Friday, July 7th. UBS AG reaffirmed a “sell” rating and set a $29.50 price target (down from $30.50) on shares of Owens & Minor in a research note on Wednesday, August 9th. Finally, Robert W. Baird raised shares of Owens & Minor from an “underperform” rating to a “neutral” rating and set a $28.00 price target for the company in a research note on Friday, September 1st. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $31.10.
About Owens & Minor
Owens & Minor, Inc is a healthcare services company that connects the world of medical products to the point of care. The Company provides supply chain assistance to the providers of healthcare services and the manufacturers of healthcare products, supplies and devices. The Company’s segments include Domestic, International and Clinical & Procedural Solutions (CPS).
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