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

Owens & Minor (NYSE:OMI) updated its second quarter earnings guidance on Tuesday. The company provided earnings per share guidance of $0.32-0.36 for the period, compared to the consensus earnings per share 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 equities research analysts recently commented on the company. Citigroup upgraded Owens & Minor from a neutral rating to a buy rating and dropped their target price for the company from $24.00 to $19.00 in a report on Friday, July 19th. Bank of America lowered their price target on Owens & Minor from $18.00 to $16.00 and set an underperform rating for the company in a report on Tuesday, June 25th. Robert W. Baird reduced their price objective on Owens & Minor from $20.00 to $19.00 and set a neutral rating for the company in a research report on Tuesday, July 16th. Finally, StockNews.com lowered Owens & Minor from a buy rating to a hold rating in a research report on Thursday, May 23rd. Two research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Hold and an average target price of $20.63.

Owens & Minor Trading Up 1.2 %

Shares of Owens & Minor stock traded up $0.20 on Thursday, reaching $16.39. 495,234 shares of the company were exchanged, compared to its average volume of 762,742. The stock has a fifty day moving average price of $15.89 and a 200-day moving average price of $20.44. The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of -31.73, a price-to-earnings-growth ratio of 0.53 and a beta of 0.25. The company has a current ratio of 1.16, a quick ratio of 0.56 and a debt-to-equity ratio of 2.17. Owens & Minor has a fifty-two week low of $12.36 and a fifty-two week high of $28.35.

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

Insider Activity at Owens & Minor

In other news, EVP Heath H. Galloway sold 2,031 shares of the stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $20.18, for a total value of $40,985.58. Following the completion of the transaction, the executive vice president now directly owns 56,898 shares of the company’s stock, valued at approximately $1,148,201.64. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Owens & Minor news, EVP Heath H. Galloway sold 2,031 shares of the stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $20.18, for a total value of $40,985.58. Following the transaction, the executive vice president now directly owns 56,898 shares in the company, valued at approximately $1,148,201.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Alexander J. Bruni sold 10,568 shares of the stock in a transaction 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 completion of the transaction, the chief financial officer now owns 49,950 shares in the company, valued at $887,112. The disclosure for this sale can be found here. Insiders sold a total of 31,923 shares of company stock worth $562,711 in the last 90 days. 3.59% of the stock is owned by company 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.