Owens & Minor (NYSE:OMI) Updates Q2 2024 Earnings Guidance

Owens & Minor (NYSE:OMI) updated its second quarter 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 0.320-0.360 for the period, compared to the consensus earnings per share estimate of 0.310. The company issued revenue guidance of $2.7 billion-$2.7 billion, compared to the consensus revenue estimate of $2.6 billion. Owens & Minor also updated its FY 2024 guidance to 1.400-1.700 EPS.

Owens & Minor Stock Up 0.2 %

Owens & Minor stock traded up $0.03 during midday trading on Wednesday, reaching $16.51. The stock had a trading volume of 557,281 shares, compared to its average volume of 760,197. Owens & Minor has a 12 month low of $12.36 and a 12 month high of $28.35. The company has a market capitalization of $1.26 billion, a P/E ratio of -32.31, a PEG ratio of 0.49 and a beta of 0.25. The company has a fifty day moving average price of $15.97 and a two-hundred day moving average price of $20.47. 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 (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. Owens & Minor had a positive return on equity of 12.97% and a negative net margin of 0.37%. The business had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.61 billion. During the same period in the previous year, the company posted $0.05 EPS. The firm’s revenue was up 3.6% compared to the same quarter last year. As a group, equities analysts expect that Owens & Minor will post 1.53 EPS for the current fiscal year.

Analysts Set New Price Targets

OMI has been the subject of a number of recent research reports. Robert W. Baird decreased their price objective on Owens & Minor from $20.00 to $19.00 and set a neutral rating for the company in a report on Tuesday, July 16th. Citigroup raised Owens & Minor from a neutral rating to a buy rating and decreased their price objective for the stock from $24.00 to $19.00 in a report on Friday, July 19th. StockNews.com lowered Owens & Minor from a buy rating to a hold rating in a report on Thursday, May 23rd. Finally, Bank of America decreased their price objective on Owens & Minor from $18.00 to $16.00 and set an underperform rating for the company in a report 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 assigned a buy rating to the stock. According to data from MarketBeat, Owens & Minor presently has an average rating of Hold and an average price target of $20.63.

Insider Activity at Owens & Minor

In related news, EVP Heath H. Galloway sold 2,031 shares of the company’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 value 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Owens & Minor news, Director Mark A. Beck sold 9,344 shares of the stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $17.25, for a total transaction of $161,184.00. Following the sale, the director now owns 11,154 shares in the company, valued at $192,406.50. 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 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 sale, the executive vice president now owns 56,898 shares in the company, valued at approximately $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 worth $562,711. Insiders own 3.59% of the company’s stock.

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.