Owens & Minor (NYSE:OMI) Posts Earnings Results, Beats Expectations 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, topping 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 firm had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.61 billion. During the same quarter last year, the business posted $0.05 EPS. The firm’s quarterly revenue was up 3.6% compared to the same quarter last year. 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 NYSE:OMI traded down $6.30 during midday trading on Friday, hitting $18.21. The stock had a trading volume of 3,026,300 shares, compared to its average volume of 497,015. Owens & Minor has a 1 year low of $13.34 and a 1 year high of $28.35. The company has a current ratio of 1.11, a quick ratio of 0.52 and a debt-to-equity ratio of 2.05. The stock has a 50 day moving average price of $25.35 and a two-hundred day moving average price of $21.40. The company has a market capitalization of $1.39 billion, a PE ratio of -33.72, a P/E/G ratio of 0.78 and a beta of 0.52.

Insider Buying and Selling

In other news, SVP Jonathan A. Leon sold 5,000 shares of the 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 completion of the transaction, 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 document filed with the SEC, which is accessible through this link. In other news, SVP Jonathan A. Leon sold 5,000 shares of the company’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 transaction, the senior vice president now directly owns 84,673 shares of the company’s stock, valued at approximately $2,103,277.32. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Michael Wayne Lowry sold 10,000 shares of the stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $25.00, for a total transaction 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. 3.59% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Leerink Partnrs restated a “market perform” rating on shares of Owens & Minor in a research report on Monday, February 26th. StockNews.com raised shares of Owens & Minor from a “hold” rating to a “buy” rating in a research report on Wednesday, February 21st. TheStreet raised shares of Owens & Minor from a “d+” rating to a “c-” rating in a report on Monday, March 4th. Robert W. Baird increased their target price on shares of Owens & Minor from $24.00 to $28.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 10th. Finally, SVB Leerink initiated coverage on Owens & Minor in a research report on Monday, February 26th. They issued a “market perform” rating and a $24.00 price target on the stock. 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. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price 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.