Owens & Minor (NYSE:OMI) Releases Earnings Results

Owens & Minor (NYSE:OMI) announced its quarterly earnings data on Monday. The company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.01, Briefing.com reports. Owens & Minor had a positive return on equity of 14.60% and a negative net margin of 0.46%. The company had revenue of $2.72 billion during the quarter, compared to the consensus estimate of $2.68 billion. During the same quarter last year, the company earned $0.44 EPS. The company’s quarterly revenue was up 5.0% on a year-over-year basis. Owens & Minor updated its FY 2024 guidance to 1.450-1.550 EPS and its FY24 guidance to $1.45-1.55 EPS.

Owens & Minor Trading Up 15.3 %

Shares of NYSE OMI traded up $1.81 during midday trading on Wednesday, hitting $13.61. The stock had a trading volume of 1,391,204 shares, compared to its average volume of 837,567. The company’s 50-day simple moving average is $14.46 and its 200 day simple moving average is $16.10. The firm has a market cap of $1.05 billion, a P/E ratio of -20.94, a price-to-earnings-growth ratio of 0.39 and a beta of 0.41. Owens & Minor has a fifty-two week low of $11.42 and a fifty-two week high of $28.35. The company has a debt-to-equity ratio of 2.11, a current ratio of 1.09 and a quick ratio of 0.51.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on OMI. Citigroup dropped their target price on Owens & Minor from $21.00 to $18.50 and set a “buy” rating for the company in a report on Tuesday. StockNews.com cut Owens & Minor from a “buy” rating to a “hold” rating in a report on Monday, August 26th. Barclays dropped their target price on Owens & Minor from $18.00 to $14.00 and set an “equal weight” rating for the company in a report on Tuesday. Robert W. Baird dropped their price target on Owens & Minor from $19.00 to $14.00 and set a “neutral” rating for the company in a report on Tuesday. Finally, UBS Group dropped their price target on Owens & Minor from $28.00 to $25.00 and set a “buy” rating for the company in a report on Tuesday. Two research analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $18.50.

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.