Owens & Minor (NYSE:OMI) Announces Earnings Results, Beats Estimates By $0.03 EPS

Owens & Minor (NYSE:OMI) posted its earnings results on Friday. The company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.03, Briefing.com reports. Owens & Minor had a negative net margin of 0.37% and a positive return on equity of 12.97%. The business had revenue of $2.67 billion for the quarter, compared to analyst estimates of $2.65 billion. During the same period last year, the business posted $0.18 EPS. Owens & Minor’s revenue was up 4.2% compared to the same quarter last year. Owens & Minor updated its FY24 guidance to $1.40-1.70 EPS.

Owens & Minor Price Performance

Shares of NYSE:OMI traded down $0.22 during midday trading on Friday, reaching $16.20. 1,641,039 shares of the company’s stock were exchanged, compared to its average volume of 1,060,307. The company’s 50 day simple moving average is $15.59 and its two-hundred day simple moving average is $20.25. The firm has a market capitalization of $1.24 billion, a PE ratio of -31.76, a price-to-earnings-growth ratio of 0.52 and a beta of 0.25. Owens & Minor has a 12 month low of $12.36 and a 12 month 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.

Insider Transactions at Owens & Minor

In other news, EVP Heath H. Galloway sold 2,031 shares of the firm’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $20.18, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Heath H. Galloway sold 2,031 shares of Owens & Minor stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $20.18, for a total transaction 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 Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark A. Beck sold 9,344 shares of Owens & Minor stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $17.25, for a total transaction of $161,184.00. Following the transaction, the director now directly owns 11,154 shares of the company’s stock, valued at $192,406.50. The disclosure for this sale can be found here. In the last three months, insiders sold 31,923 shares of company stock valued at $562,711. Company insiders own 3.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on OMI shares. Robert W. Baird lowered their target price on shares of Owens & Minor from $20.00 to $19.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 16th. StockNews.com upgraded shares of Owens & Minor from a “hold” rating to a “buy” rating in a research note on Thursday. Bank of America lowered their target price 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. Finally, Citigroup raised shares of Owens & Minor from a “neutral” rating to a “buy” rating and reduced their price target for the company from $24.00 to $19.00 in a report on Friday, July 19th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $20.63.

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.