Johnson Investment Counsel Inc Lowers stake in Owens & Minor (OMI)

Owens & Minor (OMI) : Johnson Investment Counsel Inc reduced its stake in Owens & Minor by 5.99% during the most recent quarter end. The investment management company now holds a total of 926,436 shares of Owens & Minor which is valued at $33.8 Million after selling 59,066 shares in Owens & Minor , the firm said in a disclosure report filed with the SEC on May 13, 2016.Owens & Minor makes up approximately 1.20% of Johnson Investment Counsel Inc’s portfolio.

Other Hedge Funds, Including , Fuller Thaler Asset Management added OMI to its portfolio by purchasing 3,100 company shares during the most recent quarter which is valued at $113,119.Gsa Capital Partners Llp reduced its stake in OMI by selling 3,941 shares or 10.74% in the most recent quarter. The Hedge Fund company now holds 32,750 shares of OMI which is valued at $1.2 Million. Owens & Minor makes up approx 0.08% of Gsa Capital Partners Llp’s portfolio.Cambridge Investment Research Advisors boosted its stake in OMI in the latest quarter, The investment management firm added 76 additional shares and now holds a total of 16,062 shares of Owens & Minor which is valued at $568,755. Owens & Minor makes up approx 0.01% of Cambridge Investment Research Advisors’s portfolio.Canal Capital Management reduced its stake in OMI by selling 150 shares or 1.49% in the most recent quarter. The Hedge Fund company now holds 9,910 shares of OMI which is valued at $360,625. Owens & Minor makes up approx 0.36% of Canal Capital Management’s portfolio.

Owens & Minor closed down -0.45 points or -1.21% at $36.74 with 6,87,595 shares getting traded on Wednesday. Post opening the session at $37.17, the shares hit an intraday low of $36.73 and an intraday high of $37.44 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, Owens & Minor reported $0.50 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on May 3, 2016. Analyst had a consensus of $0.47. The company had revenue of $2455.80 million for the quarter, compared to analysts expectations of $2432.90 million. The company’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.44 EPS.

Investors should note that on May 5, 2016, Owens & Minor announced a cash dividend of $0.2550. The company’s management has announced Jun 13, 2016 as the ex-dividend date and fixed the record date on Jun 15, 2016. The payable date has been fixed on Jun 30, 2016.

Many Wall Street Analysts have commented on Owens & Minor. Shares were Downgraded by Robert W. Baird on Apr 21, 2016 to ” Underperform” and Lowered the Price Target to $ 32 from a previous price target of $36 .Owens & Minor was Initiated by Credit Suisse to “Underperform” on Mar 16, 2016.

Owens & Minor Inc. is a healthcare logistics company. The Company provides supply chain assistance to the providers of healthcare services and the manufacturers of healthcare products supplies and devices. The Company operates in two segments: Domestic and International. Domestic segment includes all functions in the United States relating to its role as a healthcare logistics company providing distribution packaging and logistics services to healthcare providers and manufacturers. International segment consists of its European third-party logistics and packaging businesses. It is focused on its operations on healthcare logistics services and provides its customers with a service portfolio that covers procurement inventory management delivery and sourcing of products for the healthcare market. Its customers include hospitals integrated healthcare systems group purchasing organizations manufacturers of life-science and medical devices and supplies including pharmaceuticals.

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