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

Owens & Minor (NYSE:OMI) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of 1.500-1.530 for the period, compared to the consensus estimate of 1.510. The company issued revenue guidance of $10.7 billion-$10.7 billion, compared to the consensus revenue estimate of $10.7 billion. Owens & Minor also updated its Q4 2024 guidance to 0.520-0.550 EPS.

Analyst Ratings Changes

OMI has been the subject of several research analyst reports. Citigroup reduced their price objective on Owens & Minor from $21.00 to $18.50 and set a “buy” rating for the company in a research note on Tuesday, November 5th. UBS Group cut their price objective on Owens & Minor from $28.00 to $25.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Barclays dropped their target price on shares of Owens & Minor from $18.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 5th. Finally, Robert W. Baird reduced their price target on shares of Owens & Minor from $19.00 to $14.00 and set a “neutral” rating for the company in a research report on Tuesday, November 5th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Owens & Minor has a consensus rating of “Hold” and an average price target of $18.50.

Owens & Minor Price Performance

Shares of Owens & Minor stock traded down $4.01 on Monday, hitting $10.23. 1,504,415 shares of the company were exchanged, compared to its average volume of 546,443. Owens & Minor has a 1-year low of $10.54 and a 1-year high of $28.35. The company has a quick ratio of 0.45, a current ratio of 1.09 and a debt-to-equity ratio of 2.11. The stock has a market capitalization of $788.53 million, a price-to-earnings ratio of -15.73, a price-to-earnings-growth ratio of 0.40 and a beta of 0.48. The company has a 50-day moving average price of $13.86 and a 200 day moving average price of $14.32.

Owens & Minor (NYSE:OMI) last issued its earnings results on Monday, November 4th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.01. Owens & Minor had a positive return on equity of 14.60% and a negative net margin of 0.46%. The company had revenue of $2.72 billion during the quarter, compared to analysts’ expectations of $2.68 billion. During the same period in the prior year, the business earned $0.44 EPS. The firm’s quarterly revenue was up 5.0% on a year-over-year basis. As a group, sell-side analysts predict that Owens & Minor will post 1.49 earnings per share for the current fiscal year.

Insider Activity at Owens & Minor

In other Owens & Minor news, CFO Jonathan A. Leon sold 5,282 shares of Owens & Minor stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $11.82, for a total value of $62,433.24. Following the sale, the chief financial officer now owns 130,822 shares in the company, valued at $1,546,316.04. The trade was a 3.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.62% of the stock is currently owned by insiders.

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.