Owens & Minor (NYSE:OMI) Announces Earnings Results

Owens & Minor (NYSE:OMI) posted its earnings results on Friday. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.17 by $0.02, Briefing.com reports. The company had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.61 billion. Owens & Minor had a positive return on equity of 12.97% and a negative net margin of 0.37%. The business’s revenue was up 3.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.05 earnings per share. Owens & Minor updated its FY 2024 guidance to 1.400-1.700 EPS and its FY24 guidance to $1.40-1.70 EPS.

Owens & Minor Stock Down 25.7 %

OMI opened at $18.21 on Monday. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.56 and a current ratio of 1.16. The company has a market capitalization of $1.39 billion, a PE ratio of -35.71, a P/E/G ratio of 0.57 and a beta of 0.52. The stock’s fifty day moving average is $25.35 and its 200-day moving average is $21.49. Owens & Minor has a one year low of $13.34 and a one year high of $28.35.

Insider Activity at Owens & Minor

In related news, SVP Jonathan A. Leon sold 5,000 shares of the stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $24.84, for a total transaction of $124,200.00. Following the completion of the sale, the senior vice president now directly owns 84,673 shares of the company’s stock, valued at $2,103,277.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, SVP Jonathan A. Leon sold 5,000 shares of the business’s stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $24.84, for a total transaction of $124,200.00. Following the sale, the senior vice president now directly owns 84,673 shares of the company’s stock, valued at $2,103,277.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Michael Wayne Lowry sold 10,000 shares of the stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $25.00, for a total value of $250,000.00. Following the completion of the transaction, the senior vice president now owns 71,654 shares of the company’s stock, valued at approximately $1,791,350. The disclosure for this sale can be found here. Company insiders own 2.62% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on OMI. Barclays increased their target price on Owens & Minor from $21.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 21st. Robert W. Baird lifted their price objective on shares of Owens & Minor from $24.00 to $28.00 and gave the company a “neutral” rating in a research report on Wednesday, April 10th. SVB Leerink assumed coverage on shares of Owens & Minor in a research report on Monday, February 26th. They issued a “market perform” rating and a $24.00 target price for the company. Leerink Partnrs reaffirmed a “market perform” rating on shares of Owens & Minor in a report on Monday, February 26th. Finally, Citigroup increased their price objective on Owens & Minor from $24.00 to $28.00 and gave the stock a “neutral” rating in a report on Tuesday, April 30th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Owens & Minor has an average rating of “Hold” and an average price target of $23.86.

Owens & Minor Company Profile

Owens & Minor, Inc, together with its subsidiaries, operates as a healthcare solutions company worldwide. It operates through Products & Healthcare Services and Patient Direct segments. The Products & Healthcare Services segment offers a portfolio of products and services to healthcare providers and manufacturers.