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

Owens & Minor (NYSE:OMI) updated its FY 2024 earnings guidance on Monday. 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 Upgrades and Downgrades

Several brokerages have commented on OMI. UBS Group dropped their price target on Owens & Minor from $28.00 to $25.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Barclays decreased their price objective on shares of Owens & Minor from $18.00 to $14.00 and set an “equal weight” rating for the company in a report on Tuesday, November 5th. Citigroup cut their target price on shares of Owens & Minor from $21.00 to $18.50 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Finally, Robert W. Baird cut their target price on shares of Owens & Minor from $15.00 to $14.00 and set a “neutral” rating for the company in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Owens & Minor currently has an average rating of “Hold” and a consensus price target of $18.50.

Owens & Minor Trading Down 1.6 %

NYSE OMI traded down $0.15 during trading hours on Wednesday, reaching $8.99. The company’s stock had a trading volume of 643,193 shares, compared to its average volume of 871,121. The firm has a fifty day simple moving average of $13.69 and a 200-day simple moving average of $14.24. The stock has a market cap of $693.30 million, a P/E ratio of -13.83, a P/E/G ratio of 0.40 and a beta of 0.48. Owens & Minor has a 52 week low of $8.75 and a 52 week high of $28.35. The company has a debt-to-equity ratio of 2.11, a current ratio of 1.09 and a quick ratio of 0.45.

Owens & Minor (NYSE:OMI) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.42 earnings per share 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 business had revenue of $2.72 billion for the quarter, compared to analysts’ expectations of $2.68 billion. During the same period last year, the business earned $0.44 EPS. The business’s revenue was up 5.0% on a year-over-year basis. Equities analysts forecast that Owens & Minor will post 1.49 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Jonathan A. Leon sold 5,282 shares of Owens & Minor stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $11.82, for a total value of $62,433.24. Following the completion of the transaction, the chief financial officer now owns 130,822 shares of the company’s stock, valued at $1,546,316.04. The trade was a 3.88 % decrease in their position. 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 corporate 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.