Nordea Investment Management AB has recently increased its holdings in Owens & Minor, Inc. (NYSE:OMI), acquiring an additional 65,337 shares during the second quarter of 2023. According to the company’s most recent 13F filing with the Securities and Exchange Commission, it now owns a total of 165,847 shares, representing a growth of 65.0%. At the end of this period, Nordea Investment Management AB’s stake in Owens & Minor was valued at $3,212,000.
Owens & Minor is a global healthcare solutions company that operates through two main segments: Products & Healthcare Services and Patient Direct. The Products & Healthcare Services segment provides a wide range of products and services to healthcare providers and manufacturers.
In its last quarterly earnings announcement on August 4th, Owens & Minor reported earnings per share of $0.18 for the quarter. This figure aligns with the consensus estimate of analysts’ predictions. Moreover, the company demonstrated a positive return on equity of 7.60% despite a negative net margin of 0.97%. Its revenue for the quarter amounted to $2.56 billion compared to market expectations of $2.49 billion—an increase of 2.5% from the same period last year.
Analysts are forecasting that Owens & Minor will post earnings per share of approximately 1.3 for the entire fiscal year ending in December 2023.
The recent increase in holdings by Nordea Investment Management AB indicates confidence in Owens & Minor’s prospects as it continues to navigate the global healthcare industry. By expanding its portfolio and offering an extensive array of products and services, Owens & Minor is well-positioned to meet the needs of both healthcare providers and manufacturers around the world.
This development highlights investment opportunities within the healthcare sector at large, as companies like Owens & Minor strive to innovate and provide valuable solutions throughout various areas of the industry. The growth witnessed by Nordea Investment Management AB’s holdings in Owens & Minor indicates their belief in the company’s ability to deliver long-term value to shareholders.
As always, it is important to consider individual investment goals and conduct thorough research before making any investment decisions. While previous performance may provide insights into a company’s potential, future success is never guaranteed.
Owens & Minor, Inc.
OMI
Buy
Updated on: 23/09/2023
Interest from Hedge Funds and Institutional Investors in Owens & Minor Reflects Growth Potential in Healthcare Logistics
Owens & Minor, Inc., a healthcare logistics company, has recently seen changes in its positions by several hedge funds and institutional investors. Alyeska Investment Group L.P. acquired a new stake in the company during the first quarter of this year, valued at $20,483,000. Allianz Asset Management GmbH also increased its holdings in Owens & Minor by 183.8% during the same quarter, now owning 702,890 shares worth $30,941,000. Millennium Management LLC witnessed a staggering 1,863.8% lift in its holdings during the fourth quarter to own 396,487 shares valued at $7,743,000. Norges Bank also joined the list of investors by acquiring a new position of shares worth $6,147,000 in the fourth quarter. The Renaissance Technologies LLC also increased its holdings to possess 1,494,200 shares worth $29,182,000.
The above figures highlight the significant interest shown by hedge funds and institutional investors in Owens & Minor’s stock.
On Friday morning September 22nd , shares of OMI opened at $15.69 which demonstrated a slight decrease compared to previous trading sessions. The company’s stock is currently experiencing some volatility as indicated by its 50-day moving average being recorded at $17.89 and its two-hundred day moving average at $15.75.
With a market capitalization of $1.20 billion and a P/E ratio of -12.07 with P/E/G ratio standing at 4.23 along with beta reported as low as 0.55 indicating less volatile than most other stocks available on the market indicates that Owens & Minor holds significant potential for growth within the industry.
The financial stability of Owens & Minor can be assessed through its debt-to-equity ratio of 2.58 that suggests higher proportionate ownership derived from borrowed funds to finance anticipated growth or business expansion. When combined with a quick ratio of 0.65 and a current ratio of 1.34 the company’s financial standing becomes even more evident.
Owens & Minor’s stock market performance saw fluctuations in its fifty-two week range between $11.79 to $26.00, signifying the potential for higher returns on investment.
Several equity research companies have recently issued reports on Owens & Minor, offering insights into its current market position. Citigroup, for instance, revised their target price downward from $23.00 to $21.00 in their latest research report dated August 4th. Furthermore, StockNews.com initiated coverage on Owens & Minor by rating it as “hold” in their report published on August 17th. Lastly, Credit Suisse Group increased its target price to $19.00 from $18.00 and rated the company as “neutral” in their research report published on August 8th.
Taking into account the data presented by Bloomberg, Owens & Minor currently holds an average consensus rating of “Hold” with two analysts suggesting a sell rating and four considering it as a hold rating for long term investments.
In conclusion, Owens & Minor has garnered considerable attention from both hedge funds and institutional investors due to recent changes in positions held by such entities within the stock market realm. The company’s financial stability takes center stage with shareholders taking a keen interest in understanding its debt-to-equity ratio and liquidity ratios which validate the potential for exceeding expectations regarding business growth and expansion within the healthcare logistics industry sector.
link