Owens & Minor (NYSE:OMI) Announces Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Owens & Minor (NYSE:OMI) released its quarterly earnings results on Friday. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.02, Briefing.com reports. Owens & Minor had a positive return on equity of 11.62% and a negative net margin of 0.40%. The business had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.61 billion. During the same quarter in the previous year, the company posted $0.05 earnings per share. Owens & Minor’s revenue for the quarter was up 3.6% on a year-over-year basis. 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 Price Performance

Shares of NYSE:OMI traded down $6.30 during mid-day trading on Friday, reaching $18.21. The stock had a trading volume of 3,026,300 shares, compared to its average volume of 497,015. The business’s 50 day moving average price is $25.35 and its 200 day moving average price is $21.40. Owens & Minor has a 1 year low of $13.34 and a 1 year high of $28.35. The company has a market cap of $1.39 billion, a P/E ratio of -33.72, a price-to-earnings-growth ratio of 0.78 and a beta of 0.52. The company has a current ratio of 1.11, a quick ratio of 0.52 and a debt-to-equity ratio of 2.05.

Analyst Ratings Changes

A number of brokerages recently issued reports on OMI. StockNews.com upgraded Owens & Minor from a “hold” rating to a “buy” rating in a research note on Wednesday, February 21st. Citigroup upped their target price on shares of Owens & Minor from $24.00 to $28.00 and gave the stock a “neutral” rating in a report on Tuesday. SVB Leerink assumed coverage on Owens & Minor in a report on Monday, February 26th. They set a “market perform” rating and a $24.00 price target on the stock. Leerink Partnrs reaffirmed a “market perform” rating on shares of Owens & Minor in a research note on Monday, February 26th. Finally, UBS Group cut their target price on Owens & Minor from $28.00 to $26.00 and set a “buy” rating for the company in a research report on Monday, January 29th. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Owens & Minor has a consensus rating of “Hold” and a consensus price target of $23.86.

Insider Buying and Selling at Owens & Minor

In other news, SVP Jonathan A. Leon sold 5,000 shares of the company’s stock in a transaction that occurred 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 approximately $2,103,277.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, SVP Michael Wayne Lowry sold 10,000 shares of Owens & Minor stock in a transaction dated Tuesday, February 27th. The stock was 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 in the company, valued at $1,791,350. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Jonathan A. Leon sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $24.84, for a total value of $124,200.00. Following the sale, the senior vice president now owns 84,673 shares in the company, valued at $2,103,277.32. The disclosure for this sale can be found here. 3.59% of the stock is currently owned by company insiders.

About Owens & Minor

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.