Miller Howard: “Owens and Minor (OMI) has Been our ‘Best Stock’ Since Inception”

Miller Howard Investments, an investment management firm, published its third-quarter 2021 investor letter – a copy of which can be downloaded here. A quarterly return of 3.5% (yield) was recorded by the fund for the third quarter of 2021, compared to the 1.5% for the S&P 500 for the same period. You can take a look at the fund’s top 5 holdings to have an idea about their best picks for 2021.

Miller Howard Investments, in its Q3 2021 investor letter, mentioned Owens & Minor, Inc. (NYSE: OMI) and discussed its stance on the firm. Owens & Minor, Inc. is a Virginia-based healthcare company with a $$3.3 billion market capitalization. OMI delivered a 62.59% return since the beginning of the year, while its 12-month returns are up by 58.43%. The stock closed at $43.98 per share on December 29, 2021.

Here is what Miller Howard Investments has to say about Owens & Minor, Inc.  in its Q3 2021 investor letter:

“AFTER A METEORIC RISE OVER THE PAST YEAR, small-cap stocks reversed course with the Russell 2000 Index down -4.4% for the quarter. Much of the downdraft was focused on stocks that had done well in the pandemic environment but lost favor with investors who see a recovery on the horizon. Our largest detractors have all benefitted from pandemic-driven demand. Owens & Minor (OMI) has been our best stock since inception, but the stock backtracked this quarter over concerns that the hospital supply distributor may see lower demand as COVID-19 recedes.”

Source: Unsplash

Based on our calculations, Owens & Minor, Inc. (NYSE: OMI) was not able to clinch a spot in our list of the 30 Most Popular Stocks Among Hedge Funds. OMI was in 18 hedge fund portfolios at the end of the third quarter of 2021, compared to 20 funds in the previous quarter. Owens & Minor, Inc. (NYSE: OMI) delivered a 41.28% return in the past 3 months.

In December 2021, we also shared another hedge fund’s views on OMI in another article. You can find more than 100 investor letters from hedge funds and prominent investors on our hedge fund investor letters 2021 Q3 page.

Disclosure: None. This article is originally published at Insider Monkey.