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

Owens & Minor (NYSE:OMI) updated its FY24 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of $1.40-1.70 for the period, compared to the consensus estimate of $1.55. The company issued revenue guidance of $10.5-10.9 billion, compared to the consensus revenue estimate of $10.67 billion.

Owens & Minor Price Performance

NYSE:OMI traded down $0.22 during mid-day trading on Friday, reaching $16.20. The stock had a trading volume of 1,641,039 shares, compared to its average volume of 1,060,307. The stock has a 50-day simple moving average of $15.59 and a two-hundred day simple moving average of $20.25. The stock has a market capitalization of $1.24 billion, a PE ratio of -31.76, a P/E/G ratio of 0.52 and a beta of 0.25. The company has a debt-to-equity ratio of 2.17, a current ratio of 1.16 and a quick ratio of 0.56. Owens & Minor has a 12 month low of $12.36 and a 12 month high of $28.35.

Owens & Minor (NYSE:OMI) last issued its earnings results on Friday, August 2nd. The company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.03. Owens & Minor had a negative net margin of 0.37% and a positive return on equity of 12.97%. The firm had revenue of $2.67 billion for the quarter, compared to analyst estimates of $2.65 billion. During the same quarter last year, the business posted $0.18 earnings per share. The company’s quarterly revenue was up 4.2% on a year-over-year basis. On average, equities analysts anticipate that Owens & Minor will post 1.54 earnings per share for the current year.

Analysts Set New Price Targets

OMI has been the topic of several recent analyst reports. Robert W. Baird dropped their target price on shares of Owens & Minor from $20.00 to $19.00 and set a neutral rating on the stock in a report on Tuesday, July 16th. StockNews.com upgraded shares of Owens & Minor from a hold rating to a buy rating in a report on Thursday. Citigroup upgraded shares of Owens & Minor from a neutral rating to a buy rating and dropped their target price for the company from $24.00 to $19.00 in a report on Friday, July 19th. Finally, Bank of America decreased their price target on shares of Owens & Minor from $18.00 to $16.00 and set an underperform rating for the company in a research note on Tuesday, June 25th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Hold and a consensus target price of $20.63.

Insiders Place Their Bets

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