Owens & Minor (NYSE:OMI) Releases FY 2024 Earnings Guidance

Owens & Minor (NYSE:OMI) updated its FY 2024 earnings guidance on Friday. The company provided EPS guidance of 1.400-1.700 for the period. The company issued revenue guidance of $10.5 billion-$10.9 billion. Owens & Minor also updated its FY24 guidance to $1.40-1.70 EPS.

Owens & Minor Price Performance

Shares of OMI traded down $6.30 during trading hours on Friday, reaching $18.21. 3,025,508 shares of the stock traded hands, compared to its average volume of 664,330. The company’s 50-day moving average price is $25.46 and its two-hundred day moving average price is $21.37. Owens & Minor has a 52-week low of $13.34 and a 52-week high of $28.35. The company has a market cap of $1.39 billion, a P/E ratio of -33.72, a price-to-earnings-growth ratio of 0.76 and a beta of 0.52. The company has a current ratio of 1.11, a quick ratio of 0.52 and a debt-to-equity ratio of 2.05.

Owens & Minor (NYSE:OMI) last issued its earnings results on Tuesday, February 20th. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.03. Owens & Minor had a positive return on equity of 11.62% and a negative net margin of 0.40%. The company had revenue of $2.66 billion for the quarter, compared to the consensus estimate of $2.67 billion. During the same quarter last year, the company earned $0.28 EPS. The firm’s quarterly revenue was up 4.1% on a year-over-year basis. On average, analysts anticipate that Owens & Minor will post 1.54 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have commented on OMI shares. TheStreet raised Owens & Minor from a d+ rating to a c- rating in a research report on Monday, March 4th. SVB Leerink initiated coverage on Owens & Minor in a research note on Monday, February 26th. They issued a market perform rating and a $24.00 target price on the stock. StockNews.com raised shares of Owens & Minor from a hold rating to a buy rating in a research report on Wednesday, February 21st. Robert W. Baird increased their price objective on shares of Owens & Minor from $24.00 to $28.00 and gave the company a neutral rating in a research report on Wednesday, April 10th. Finally, Barclays boosted their target price on shares of Owens & Minor from $21.00 to $23.00 and gave the stock an equal weight rating in a research report on Wednesday, February 21st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and an average target price of $23.86.

Insider Buying and Selling

In other news, SVP Jonathan A. Leon sold 5,000 shares of Owens & Minor stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $24.84, for a total value of $124,200.00. Following the sale, the senior vice president now directly owns 84,673 shares of the company’s stock, valued at $2,103,277.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, SVP Jonathan A. Leon sold 5,000 shares of Owens & Minor 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 transaction, the senior vice president now owns 84,673 shares in the company, valued at $2,103,277.32. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Michael Wayne Lowry sold 10,000 shares of Owens & Minor stock in a transaction dated Tuesday, February 27th. The shares were 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 directly owns 71,654 shares of the company’s stock, valued at $1,791,350. The disclosure for this sale can be found here. 3.59% of the stock is 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.