Brokers Offer Predictions for Owens & Minor FY2024 Earnings

Owens & Minor, Inc. (NYSE:OMI) – Analysts at Leerink Partnrs cut their FY2024 earnings estimates for Owens & Minor in a note issued to investors on Monday, November 4th. Leerink Partnrs analyst M. Cherny now expects that the company will post earnings of $1.48 per share for the year, down from their previous forecast of $1.55. The consensus estimate for Owens & Minor’s current full-year earnings is $1.55 per share. Leerink Partnrs also issued estimates for Owens & Minor’s Q4 2024 earnings at $0.50 EPS, Q2 2025 earnings at $0.47 EPS, Q4 2025 earnings at $0.51 EPS, FY2025 earnings at $1.75 EPS and FY2026 earnings at $2.16 EPS.

A number of other research analysts also recently commented on OMI. Barclays dropped their price objective on Owens & Minor from $18.00 to $14.00 and set an “equal weight” rating on the stock in a report on Tuesday. JPMorgan Chase & Co. dropped their price target on shares of Owens & Minor from $22.00 to $18.00 and set an “underweight” rating on the stock in a research note on Wednesday, August 21st. UBS Group reduced their price objective on shares of Owens & Minor from $28.00 to $25.00 and set a “buy” rating for the company in a research report on Tuesday. StockNews.com downgraded shares of Owens & Minor from a “buy” rating to a “hold” rating in a research report on Monday, August 26th. Finally, Citigroup cut their price target on shares of Owens & Minor from $21.00 to $18.50 and set a “buy” rating on the stock in a research note on Tuesday. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $18.50.

Owens & Minor Stock Performance

NYSE:OMI opened at $12.76 on Thursday. Owens & Minor has a 12 month low of $11.42 and a 12 month 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 0.51. The firm has a market capitalization of $983.74 million, a PE ratio of -19.63, a price-to-earnings-growth ratio of 0.39 and a beta of 0.41. The business’s fifty day moving average price is $14.35 and its 200 day moving average price is $16.06.

Owens & Minor (NYSE:OMI) last posted 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. 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 for the quarter, compared to analyst estimates of $2.68 billion. During the same quarter last year, the company earned $0.44 EPS. Owens & Minor’s revenue for the quarter was up 5.0% compared to the same quarter last year.

Institutional Trading of Owens & Minor

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC raised its stake in shares of Owens & Minor by 43,142.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 3,027 shares of the company’s stock worth $84,000 after purchasing an additional 3,020 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in shares of Owens & Minor by 118.2% in the 1st quarter. BNP Paribas Financial Markets now owns 47,587 shares of the company’s stock worth $1,319,000 after acquiring an additional 25,779 shares during the period. Janney Montgomery Scott LLC purchased a new stake in shares of Owens & Minor in the first quarter valued at about $358,000. Texas Permanent School Fund Corp increased its stake in shares of Owens & Minor by 1.8% during the first quarter. Texas Permanent School Fund Corp now owns 66,953 shares of the company’s stock worth $1,855,000 after acquiring an additional 1,156 shares during the period. Finally, Empowered Funds LLC raised its holdings in Owens & Minor by 8.2% during the first quarter. Empowered Funds LLC now owns 297,574 shares of the company’s stock worth $8,246,000 after purchasing an additional 22,509 shares in the last quarter. 98.04% of the stock is owned by hedge funds and other institutional investors.

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.