Owens & Minor (NYSE:OMI) Releases Earnings Results, Beats Expectations By $0.02 EPS

Owens & Minor (NYSE:OMI) issued its 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 negative net margin of 0.40% and a positive return on equity of 11.62%. The business had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.61 billion. During the same period last year, the business posted $0.05 EPS. Owens & Minor’s revenue 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 Stock Performance

Shares of Owens & Minor stock traded down $6.30 during trading on Friday, reaching $18.21. The company’s stock had a trading volume of 3,026,300 shares, compared to its average volume of 497,015. Owens & Minor has a 52 week low of $13.34 and a 52 week high of $28.35. The firm has a market cap of $1.39 billion, a PE ratio of -33.72, a P/E/G ratio of 0.78 and a beta of 0.52. The business’s 50-day moving average price is $25.35 and its 200-day moving average price is $21.40. The company has a quick ratio of 0.52, a current ratio of 1.11 and a debt-to-equity ratio of 2.05.

Insider Buying and Selling

In other Owens & Minor news, SVP Jonathan A. Leon sold 5,000 shares of the business’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $24.84, for a total value of $124,200.00. Following the completion of the sale, the senior vice president now owns 84,673 shares of the company’s stock, valued at approximately $2,103,277.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP Michael Wayne Lowry sold 10,000 shares of the firm’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $25.00, for a total value of $250,000.00. Following the transaction, the senior vice president now owns 71,654 shares in the company, valued at $1,791,350. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Jonathan A. Leon sold 5,000 shares of the company’s stock in a transaction dated 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 disclosure for this sale can be found here. 3.59% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently issued reports on OMI. UBS Group cut their price objective 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. SVB Leerink began coverage on Owens & Minor in a research note on Monday, February 26th. They issued a “market perform” rating and a $24.00 price target on the stock. StockNews.com raised shares of Owens & Minor from a “hold” rating to a “buy” rating in a research report on Wednesday, February 21st. Leerink Partnrs reiterated a “market perform” rating on shares of Owens & Minor in a report on Monday, February 26th. Finally, TheStreet upgraded shares of Owens & Minor from a “d+” rating to a “c-” rating in a research note on Monday, March 4th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company 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.