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

Owens & Minor (NYSE:OMI) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 1.400-1.700 for the period, compared to the consensus EPS 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.

Owens & Minor Stock Performance

Shares of OMI stock traded up $0.03 during trading hours on Wednesday, reaching $16.51. The company had a trading volume of 557,281 shares, compared to its average volume of 760,197. The firm has a market cap of $1.26 billion, a PE ratio of -32.31, a price-to-earnings-growth ratio of 0.49 and a beta of 0.25. The business has a fifty day moving average price of $15.97 and a 200-day moving average price of $20.47. Owens & Minor has a one year low of $12.36 and a one year 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 posted its 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. The business had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.61 billion. Owens & Minor had a negative net margin of 0.37% and a positive return on equity of 12.97%. The firm’s revenue was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.05 EPS. Sell-side analysts predict that Owens & Minor will post 1.53 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Bank of America lowered their price target on shares of Owens & Minor from $18.00 to $16.00 and set an underperform rating on the stock in a report on Tuesday, June 25th. Robert W. Baird cut their price target on Owens & Minor from $20.00 to $19.00 and set a neutral rating for the company in a research note on Tuesday, July 16th. Citigroup upgraded Owens & Minor from a neutral rating to a buy rating and lowered their price objective for the company from $24.00 to $19.00 in a research report on Friday, July 19th. Finally, StockNews.com cut Owens & Minor from a buy rating to a hold rating in a research report on Thursday, May 23rd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Owens & Minor currently has an average rating of Hold and an average target price of $20.63.

Insiders Place Their Bets

In other news, CFO Alexander J. Bruni sold 10,568 shares of the stock in a transaction that occurred on Monday, June 3rd. The stock was 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 directly owns 49,950 shares in the company, valued at approximately $887,112. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Owens & Minor news, Director Mark A. Beck sold 9,344 shares of the company’s stock in a transaction that occurred 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 directly owns 11,154 shares in the company, valued at $192,406.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Alexander J. Bruni sold 10,568 shares of Owens & Minor stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $17.76, for a total value of $187,687.68. Following the completion of the transaction, the chief financial officer now owns 49,950 shares of the company’s stock, valued at approximately $887,112. The disclosure for this sale can be found here. Insiders have sold a total of 31,923 shares of company stock valued at $562,711 in the last quarter. 3.59% of the stock is currently owned by 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.