Owens & Minor (NYSE:OMI) Releases Q2 2024 Earnings Guidance

Owens & Minor (NYSE:OMI) updated its second quarter 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 0.320-0.360 for the period, compared to the consensus estimate of 0.310. The company issued revenue guidance of $2.7 billion-$2.7 billion, compared to the consensus revenue estimate of $2.6 billion. Owens & Minor also updated its FY 2024 guidance to 1.400-1.700 EPS.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on OMI. Citigroup raised Owens & Minor from a neutral rating to a buy rating and decreased their price objective for the company from $24.00 to $19.00 in a report on Friday. Bank of America decreased their price objective on Owens & Minor from $18.00 to $16.00 and set an underperform rating on the stock in a report on Tuesday, June 25th. StockNews.com cut Owens & Minor from a buy rating to a hold rating in a report on Thursday, May 23rd. Finally, Robert W. Baird decreased their price objective on Owens & Minor from $20.00 to $19.00 and set a neutral rating on the stock in a report on Tuesday, July 16th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Owens & Minor has an average rating of Hold and an average target price of $20.63.

Owens & Minor Trading Up 10.5 %

OMI traded up $1.61 on Tuesday, hitting $16.92. 641,562 shares of the company were exchanged, compared to its average volume of 752,923. The firm has a fifty day simple moving average of $16.04 and a two-hundred day simple moving average of $20.49. 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 has a 12 month low of $12.36 and a 12 month high of $28.35. The stock has a market capitalization of $1.29 billion, a PE ratio of -31.90, a price-to-earnings-growth ratio of 0.48 and a beta of 0.25.

Owens & Minor (NYSE:OMI) last posted its quarterly earnings results on Friday, May 3rd. The company reported $0.19 earnings per share (EPS) 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 business had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.61 billion. During the same period last year, the company earned $0.05 EPS. Owens & Minor’s revenue for the quarter was up 3.6% compared to the same quarter last year. Sell-side analysts expect that Owens & Minor will post 1.53 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Mark A. Beck sold 9,344 shares of Owens & Minor stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $17.25, for a total value of $161,184.00. Following the sale, the director now directly owns 11,154 shares in the company, valued at approximately $192,406.50. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, EVP Heath H. Galloway sold 2,031 shares of Owens & Minor 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 directly owns 56,898 shares in the company, valued at approximately $1,148,201.64. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Mark A. Beck sold 9,344 shares of Owens & Minor stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $17.25, for a total value of $161,184.00. Following the completion of the sale, the director now owns 11,154 shares in the company, valued at $192,406.50. The disclosure for this sale can be found here. Insiders have sold a total of 31,923 shares of company stock worth $562,711 in the last ninety days. 3.59% of the stock is 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.