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

Owens & Minor (NYSE:OMI) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 1.400-1.700 for the period, compared to the consensus estimate of 1.530. The company issued revenue guidance of $10.5 billion-$10.9 billion, compared to the consensus revenue estimate of $10.7 billion. Owens & Minor also updated its FY24 guidance to $1.40-1.70 EPS.

Analyst Ratings Changes

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

Owens & Minor Price Performance

Shares of NYSE:OMI traded up $1.51 on Tuesday, reaching $16.82. The company’s stock had a trading volume of 746,366 shares, compared to its average volume of 753,671. Owens & Minor has a 52-week low of $12.36 and a 52-week high of $28.35. The company has a market cap of $1.29 billion, a P/E ratio of -31.90, a PEG ratio of 0.48 and a beta of 0.25. The company has a 50-day simple moving average of $16.04 and a 200 day simple moving average of $20.49. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.56 and a current ratio of 1.16.

Owens & Minor (NYSE:OMI) last released its quarterly earnings results on Friday, May 3rd. The company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.02. Owens & Minor had a negative net margin of 0.37% and a positive return on equity of 12.97%. The firm had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.61 billion. During the same period in the previous year, the company earned $0.05 EPS. The firm’s revenue for the quarter was up 3.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Owens & Minor will post 1.53 EPS for the current fiscal year.

Insider Buying and Selling at Owens & Minor

In other news, CFO Alexander J. Bruni sold 10,568 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer now owns 49,950 shares in the company, valued at approximately $887,112. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CFO Alexander J. Bruni sold 10,568 shares of the business’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 completion of the transaction, the chief financial officer now owns 49,950 shares in the company, valued at approximately $887,112. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Heath H. Galloway sold 2,031 shares of the business’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 of the company’s stock, valued at approximately $1,148,201.64. The disclosure for this sale can be found here. Insiders sold a total of 31,923 shares of company stock valued at $562,711 in the last three months. Company insiders own 3.59% of the company’s stock.

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.