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Coliseum Capital, LLC and its affiliates have increased their stake in Owens & Minor Inc . (NYSE:OMI) through a series of stock purchases totaling approximately $27.39 million. The transactions, disclosed in a recent SEC filing, occurred over several days with shares acquired at prices ranging from $9.19 to $9.75.
The purchases were executed in three separate transactions. On February 28, Coliseum Capital acquired 1,738,511 shares. This was followed by an additional purchase of 354,901 shares on March 3. The final transaction on March 4 saw the acquisition of 800,000 shares. These transactions have collectively increased Coliseum Capital’s holdings in the healthcare logistics company to over 10.6 million shares, representing a significant portion of OMI’s $720 million market capitalization.
Coliseum Capital, known for its investment strategies in various sectors, has been a significant shareholder in Owens & Minor, which specializes in medical and surgical supplies distribution. The increased investment reflects continued confidence in the company’s potential growth and market position.
In other recent news, Owens & Minor Inc. reported its fourth-quarter 2024 earnings, revealing an earnings per share (EPS) of $0.55, which surpassed the forecast of $0.54. However, the company’s revenue fell short, posting $2.69 billion against a forecast of $2.73 billion. Despite the revenue miss, Owens & Minor’s stock experienced a significant surge in pre-market trading. The company also managed to reduce its debt by $244 million over the year, totaling a reduction of $647 million over two years. Looking forward to 2025, Owens & Minor has provided revenue guidance between $10.85 billion and $11.15 billion, with adjusted EPS projected between $1.60 and $1.85. The company anticipates that its Patient Direct segment will continue to drive growth, supported by innovations like the Byram Connect digital health coach. Additionally, Owens & Minor is engaged in discussions regarding the potential sale of its Products and Healthcare Services (NASDAQ:HCSG) segment, following significant interest from potential buyers. The company is also awaiting regulatory approval for its planned acquisition of Rotech, which is expected to close in the first half of 2025.
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