Owens & Minor (NYSE:OMI) Issues FY24 Earnings Guidance

Owens & Minor (NYSE:OMI) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $1.40-1.70 for the period, compared to the consensus estimate of $1.53. The company issued revenue guidance of $10.5-10.9 billion, compared to the consensus revenue estimate of $10.66 billion. Owens & Minor also updated its FY 2024 guidance to 1.400-1.700 EPS.

Owens & Minor Price Performance

OMI traded up $0.20 on Thursday, hitting $16.39. 495,234 shares of the company were exchanged, compared to its average volume of 762,742. The business’s fifty day moving average is $15.89 and its 200 day moving average is $20.44. The firm has a market capitalization of $1.25 billion, a P/E ratio of -31.73, a price-to-earnings-growth ratio of 0.53 and a beta of 0.25. Owens & Minor has a fifty-two week low of $12.36 and a fifty-two week high of $28.35. 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, beating the consensus estimate 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 business had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.61 billion. During the same period in the prior year, the business earned $0.05 earnings per share. The company’s quarterly revenue was up 3.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Owens & Minor will post 1.53 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Bank of America cut 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 note on Tuesday, June 25th. Citigroup raised shares of Owens & Minor from a neutral rating to a buy rating and dropped their target price for the stock from $24.00 to $19.00 in a research report on Friday, July 19th. StockNews.com downgraded shares of Owens & Minor from a buy rating to a hold rating in a research report on Thursday, May 23rd. Finally, Robert W. Baird dropped their target price on shares of Owens & Minor from $20.00 to $19.00 and set a neutral rating for the company in a research report on Tuesday, July 16th. Two research 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. According to MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of $20.63.

Insider Buying and Selling at Owens & Minor

In other news, EVP Heath H. Galloway sold 2,031 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $20.18, for a total value of $40,985.58. Following the completion of the sale, 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 document filed with the SEC, which is available at this hyperlink. In other Owens & Minor news, Director Mark A. Beck sold 9,344 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $17.25, for a total value of $161,184.00. Following the completion of the sale, the director now directly owns 11,154 shares of the company’s stock, valued at $192,406.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Heath H. Galloway sold 2,031 shares of the company’s stock in a transaction 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 sale, the executive vice president now directly owns 56,898 shares of the company’s stock, valued at $1,148,201.64. The disclosure for this sale can be found here. Insiders sold 31,923 shares of company stock valued at $562,711 in the last ninety days. Company 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.