Analysts Issue Forecasts for Owens & Minor FY2024 Earnings

Owens & Minor, Inc. (NYSE:OMI) – Leerink Partnrs boosted their FY2024 earnings per share (EPS) estimates for Owens & Minor in a research note issued on Monday, February 3rd. Leerink Partnrs analyst M. Cherny now forecasts that the company will post earnings of $1.52 per share for the year, up from their prior estimate of $1.48. The consensus estimate for Owens & Minor’s current full-year earnings is $1.49 per share. Leerink Partnrs also issued estimates for Owens & Minor’s Q4 2024 earnings at $0.53 EPS.

Owens & Minor (NYSE:OMI) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.01. The firm had revenue of $2.72 billion during the quarter, compared to the consensus estimate of $2.68 billion. Owens & Minor had a positive return on equity of 14.60% and a negative net margin of 0.46%. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.44 earnings per share.

A number of other equities analysts also recently issued reports on the company. Robert W. Baird lowered their price target on Owens & Minor from $15.00 to $14.00 and set a “neutral” rating for the company in a report on Tuesday. Barclays lowered their price target on 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 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. Finally, UBS Group reduced their price objective 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. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $18.50.

Owens & Minor Price Performance

Shares of OMI opened at $8.90 on Thursday. The stock has a 50 day moving average price of $13.60 and a 200 day moving average price of $14.20. The company has a quick ratio of 0.45, a current ratio of 1.09 and a debt-to-equity ratio of 2.11. Owens & Minor has a 52-week low of $8.75 and a 52-week high of $28.35.

Insider Buying and Selling at Owens & Minor

In other Owens & Minor news, CFO Jonathan A. Leon sold 5,282 shares of the firm’s 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 completion of the sale, the chief financial officer now owns 130,822 shares of the company’s stock, valued at approximately $1,546,316.04. This trade represents a 3.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.62% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Owens & Minor

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. FMR LLC increased its position in shares of Owens & Minor by 0.8% in the third quarter. FMR LLC now owns 11,564,624 shares of the company’s stock valued at $181,449,000 after buying an additional 90,862 shares in the last quarter. State Street Corp increased its position in shares of Owens & Minor by 2.6% in the third quarter. State Street Corp now owns 3,064,547 shares of the company’s stock valued at $48,083,000 after buying an additional 78,985 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Owens & Minor by 10.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,028,236 shares of the company’s stock valued at $31,823,000 after buying an additional 187,079 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Owens & Minor by 0.8% in the third quarter. Geode Capital Management LLC now owns 1,711,453 shares of the company’s stock valued at $26,858,000 after buying an additional 13,164 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in Owens & Minor by 6.0% during the 4th quarter. Bank of New York Mellon Corp now owns 622,921 shares of the company’s stock worth $8,142,000 after purchasing an additional 35,105 shares in the last quarter. Institutional investors and hedge funds own 98.04% of the company’s stock.

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.