Owens & Minor Shares Surge After Positive Earnings Report

Shares of Owens & Minor, Inc. (NYSE:OMI) saw a significant increase prior to trading on Friday, opening higher after the company reported better-than-expected quarterly earnings. The stock, which closed at $6.89 the previous day, opened at $7.74 and was last seen trading at $8.70, with a trading volume of 1,150,280 shares.

The company disclosed earnings of $0.55 per share for the quarter, surpassing analysts' expectations of $0.53 by $0.02. Despite a negative net margin of 0.46%, Owens & Minor boasted a positive return on equity of 14.60%. The revenue for the quarter was reported at $2.70 billion, exceeding the consensus estimate of $2.68 billion, and marking a 1.5% year-over-year increase compared to the same period last year, when the company earned $0.69 per share.

Insights from Wall Street Analysts

A range of analysts have provided their assessments of OMI shares following the earnings report. Barclays reduced its price target for Owens & Minor from $18.00 to $14.00, assigning an "equal weight" rating. Meanwhile, UBS Group decreased its price target from $25.00 to $13.00, maintaining a "buy" rating. Citigroup also adjusted its target from $21.00 to $18.50 while keeping a "buy" rating. Additionally, Robert W. Baird lowered its price target from $14.00 to $10.00, rating the stock as "neutral." Out of the analysts, two rated the stock as a sell, three rated it as a hold, and two rated it as a buy. According to data from MarketBeat.com, Owens & Minor has a consensus rating of "Hold" and an average price target of $14.92.

Institutional Investors' Movements

Several institutional investors have recently adjusted their stakes in Owens & Minor. Sterling Capital Management LLC significantly increased its holdings by 758.3% during the fourth quarter, now owning 2,060 shares valued at approximately $27,000. Blue Trust Inc. expanded its position by 176.8% in the third quarter, acquiring a total of 2,787 shares worth about $44,000. KBC Group NV also raised its stake by 98.2% in the fourth quarter, now holding 4,434 shares valued at $58,000. Meeder Asset Management Inc. showed a remarkable increase of 844.1% by acquiring an additional 9,016 shares, totaling $141,000. Lastly, Cetera Investment Advisers invested approximately $140,000 in a new stake. Collectively, institutional investors own 98.04% of the company’s stock.

Owens & Minor's Stock Performance Metrics

The company is currently valued at a market capitalization of $720.89 million, with a negative P/E ratio of -14.10 and a P/E/G ratio of 0.20. The stock has a beta of 0.48. Over the last fifty days, the simple moving average has been $11.57, while the two-hundred-day simple moving average stands at $13.30. The company reports a debt-to-equity ratio of 2.11, a current ratio of 1.09, and a quick ratio of 0.45.

Company Overview

Owens & Minor, Inc. is a healthcare solutions provider that specializes in manufacturing and delivering products, home health supplies, and perioperative services to support patient care in hospitals and at home. Its business is segmented into Products and Healthcare Services and Patient Direct.

Further Insights

• Explore other investment opportunities better than Owens & Minor.
• Discover what special dividends mean for investors.
• Find the best gold ETFs to hedge against economic downturns.
• Learn about investing in high P/E growth stocks.
• Identify top stocks to watch for future growth potential.
• Master trading discipline to overcome emotional challenges.
• Understand why investors are focusing on undervalued stocks.

This news has been generated using automated technology and data analysis to deliver timely and accurate financial information.

Investment Considerations

Before investing in Owens & Minor, consider reviewing recent analyst recommendations. MarketBeat tracks top analysts and their stock recommendations daily. Although Owens & Minor holds a rating of "Hold," there are several stocks that analysts suggest might be more favorable investments.

Find out which stocks are currently being recommended.

Owens, Minor, Earnings