Leerink Partnrs Predicts Weaker Earnings for Owens & Minor

Owens & Minor, Inc. (NYSE:OMI) – Analysts at Leerink Partnrs reduced their FY2024 EPS estimates for shares of Owens & Minor in a research report issued to clients and investors on Monday, November 4th. Leerink Partnrs analyst M. Cherny now forecasts 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.

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

OMI has been the subject of a number of other research reports. Citigroup lowered their price objective on Owens & Minor from $21.00 to $18.50 and set a “buy” rating for the company in a research report on Tuesday. Robert W. Baird lowered their price target on Owens & Minor from $19.00 to $14.00 and set a “neutral” rating for the company in a report on Tuesday. UBS Group cut their price objective on shares of Owens & Minor from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Tuesday. StockNews.com downgraded shares of Owens & Minor from a “buy” rating to a “hold” rating in a report on Monday, August 26th. Finally, Barclays cut their price target on shares of Owens & Minor from $18.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Two analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Owens & Minor presently has a consensus rating of “Hold” and a consensus target price of $18.50.

Owens & Minor Price Performance

Owens & Minor stock opened at $12.76 on Thursday. The firm’s 50-day moving average is $14.35 and its two-hundred day moving average is $16.06. 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 stock has a market capitalization of $983.74 million, a P/E ratio of -19.63, a P/E/G ratio of 0.39 and a beta of 0.41. Owens & Minor has a 12-month low of $11.42 and a 12-month high of $28.35.

Hedge Funds Weigh In On Owens & Minor

A number of hedge funds have recently made changes to their positions in the business. Meeder Asset Management Inc. lifted its holdings in shares of Owens & Minor by 844.1% during the 3rd quarter. Meeder Asset Management Inc. now owns 9,016 shares of the company’s stock valued at $141,000 after acquiring an additional 8,061 shares in the last quarter. Empowered Funds LLC lifted its stake in shares of Owens & Minor by 5.3% during the third quarter. Empowered Funds LLC now owns 337,766 shares of the company’s stock worth $5,300,000 after purchasing an additional 17,152 shares in the last quarter. Royce & Associates LP boosted its position in shares of Owens & Minor by 179.4% in the third quarter. Royce & Associates LP now owns 80,914 shares of the company’s stock worth $1,270,000 after buying an additional 51,955 shares during the period. Victory Capital Management Inc. grew its stake in shares of Owens & Minor by 19.2% in the third quarter. Victory Capital Management Inc. now owns 153,416 shares of the company’s stock valued at $2,407,000 after buying an additional 24,722 shares in the last quarter. Finally, Wolverine Asset Management LLC grew its stake in shares of Owens & Minor by 21.1% in the third quarter. Wolverine Asset Management LLC now owns 166,430 shares of the company’s stock valued at $2,611,000 after buying an additional 29,000 shares in the last quarter. Hedge funds and other institutional investors 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.