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

Owens & Minor (NYSE:OMI) issued its quarterly earnings results on Friday. The company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates 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 company 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 earnings per share. 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 hours on Friday, reaching $18.21. The company had a trading volume of 3,026,300 shares, compared to its average volume of 497,015. The firm has a market cap of $1.39 billion, a PE ratio of -33.72, a price-to-earnings-growth ratio of 0.78 and a beta of 0.52. Owens & Minor has a one year low of $13.34 and a one year high of $28.35. The company has a debt-to-equity ratio of 2.05, a current ratio of 1.11 and a quick ratio of 0.52. The business has a fifty day simple moving average of $25.35 and a 200 day simple moving average of $21.40.

Insider Activity at Owens & Minor

In other Owens & Minor news, SVP Michael Wayne Lowry sold 10,000 shares of the firm’s 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 approximately $1,791,350. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Owens & Minor news, SVP Michael Wayne Lowry sold 10,000 shares of the stock in a transaction that occurred 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 sale, the senior vice president now directly owns 71,654 shares in the company, valued at approximately $1,791,350. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jonathan A. Leon sold 5,000 shares of the firm’s stock in a transaction 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 transaction, the senior vice president now directly owns 84,673 shares of the company’s stock, valued at $2,103,277.32. The disclosure for this sale can be found here. 3.59% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Barclays lifted their target price on Owens & Minor from $21.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 21st. Citigroup increased their target price on shares of Owens & Minor from $24.00 to $28.00 and gave the company a “neutral” rating in a research report on Tuesday. SVB Leerink began coverage on shares of Owens & Minor in a report on Monday, February 26th. They issued a “market perform” rating and a $24.00 price target on the stock. UBS Group reduced their price objective on Owens & Minor from $28.00 to $26.00 and set a “buy” rating for the company in a report on Monday, January 29th. Finally, Robert W. Baird boosted their target price on Owens & Minor from $24.00 to $28.00 and gave the company a “neutral” rating in a research note on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $23.86.

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.