Owens & Minor (NYSE:OMI) Issues Q2 Earnings Guidance

Owens & Minor (NYSE:OMI) issued an update on its second quarter earnings guidance on Tuesday morning. The company provided EPS guidance of $0.32-0.36 for the period, compared to the consensus EPS estimate of $0.31. The company issued revenue guidance of $2.65-2.67 billion, compared to the consensus revenue estimate of $2.64 billion. Owens & Minor also updated its FY 2024 guidance to 1.400-1.700 EPS.

Owens & Minor Stock Down 3.3 %

OMI stock opened at $15.66 on Friday. The firm has a 50-day simple moving average of $15.82 and a two-hundred day simple moving average of $20.40. 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 one year low of $12.36 and a one year high of $28.35.

Owens & Minor (NYSE:OMI) last announced its earnings results on Friday, May 3rd. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.02. Owens & Minor had a positive return on equity of 12.97% and a negative net margin of 0.37%. The firm had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.61 billion. During the same period in the previous year, the business earned $0.05 EPS. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. As a group, research analysts forecast that Owens & Minor will post 1.53 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on OMI. Bank of America cut their target price on Owens & Minor from $18.00 to $16.00 and set an underperform rating on the stock in a research report on Tuesday, June 25th. Citigroup raised Owens & Minor from a neutral rating to a buy rating and cut their price objective for the company from $24.00 to $19.00 in a report on Friday, July 19th. Robert W. Baird reduced their price objective 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. Finally, StockNews.com lowered 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 assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of Hold and an average price target of $20.63.

Insider Activity at Owens & Minor

In other Owens & Minor news, EVP Heath H. Galloway sold 2,031 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $20.18, for a total value of $40,985.58. Following the sale, the executive vice president now owns 56,898 shares in the company, valued at approximately $1,148,201.64. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CFO Alexander J. Bruni sold 10,568 shares of Owens & Minor stock in a transaction dated 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 in the company, valued at approximately $887,112. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Heath H. Galloway sold 2,031 shares of the company’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $20.18, for a total value 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 31,923 shares of company stock worth $562,711. 3.59% of the stock is owned by corporate 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.