Owens & Minor (NYSE:OMI) Issues Q2 Earnings Guidance

Owens & Minor (NYSE:OMI) issued an update on its second quarter earnings guidance on Tuesday morning. The company provided EPS guidance of $0.32-0.36 for the period, compared to the consensus EPS estimate of $0.31. The company issued revenue guidance of $2.65-2.67 billion, compared to the consensus revenue estimate of $2.64 billion. Owens & Minor also updated its FY 2024 guidance to 1.400-1.700 EPS.

Analyst Upgrades and Downgrades

Several research firms have weighed in on OMI. StockNews.com downgraded shares of Owens & Minor from a buy rating to a hold rating in a research report on Thursday, May 23rd. Citigroup raised shares of Owens & Minor from a neutral rating to a buy rating and dropped their price objective for the company from $24.00 to $19.00 in a report on Friday, July 19th. Robert W. Baird dropped their price objective on shares of Owens & Minor from $20.00 to $19.00 and set a neutral rating on the stock in a report on Tuesday, July 16th. Finally, Bank of America decreased their target price on shares of Owens & Minor from $18.00 to $16.00 and set an underperform rating for the company in a research note on Tuesday, June 25th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Owens & Minor has a consensus rating of Hold and a consensus price target of $20.63.

Owens & Minor Trading Up 1.2 %

Shares of OMI traded up $0.20 during mid-day trading on Thursday, reaching $16.39. The stock had a trading volume of 495,234 shares, compared to its average volume of 762,742. The company has a debt-to-equity ratio of 2.17, a current ratio of 1.16 and a quick ratio of 0.56. Owens & Minor has a 52-week low of $12.36 and a 52-week high of $28.35. The business’s fifty day moving average is $15.89 and its 200 day moving average is $20.44. The firm has a market cap of $1.25 billion, a price-to-earnings ratio of -31.73, a P/E/G ratio of 0.53 and a beta of 0.25.

Owens & Minor (NYSE:OMI) last announced its earnings results on Friday, May 3rd. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.02. The company had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.61 billion. Owens & Minor had a negative net margin of 0.37% and a positive return on equity of 12.97%. Owens & Minor’s revenue was up 3.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.05 earnings per share. On average, sell-side analysts predict that Owens & Minor will post 1.53 EPS for the current fiscal year.

Insider Transactions at Owens & Minor

In related news, CFO Alexander J. Bruni sold 10,568 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $17.76, for a total value of $187,687.68. Following the sale, the chief financial officer now owns 49,950 shares of the company’s stock, valued at $887,112. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Owens & Minor news, CFO Alexander J. Bruni sold 10,568 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $17.76, for a total transaction of $187,687.68. Following the sale, the chief financial officer now owns 49,950 shares of the company’s stock, valued at $887,112. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Heath H. Galloway sold 2,031 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $20.18, for a total transaction of $40,985.58. Following the transaction, the executive vice president now owns 56,898 shares in the company, valued at $1,148,201.64. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 31,923 shares of company stock valued at $562,711. 3.59% of the stock is currently owned by corporate insiders.

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.