Owens & Minor, Inc. (NYSE:OMI) Expected to Post Quarterly Sales of $2.49 Billion

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Analysts predict that Owens & Minor, Inc. (NYSE:OMI) will post sales of $2.49 billion for the current quarter, according to Zacks. Two analysts have issued estimates for Owens & Minor’s earnings, with estimates ranging from $2.47 billion to $2.52 billion. Owens & Minor reported sales of $2.54 billion during the same quarter last year, which would suggest a negative year-over-year growth rate of 2%. The company is expected to announce its next earnings results on Tuesday, February 18th.

According to Zacks, analysts expect that Owens & Minor will report full-year sales of $9.84 billion for the current year, with estimates ranging from $9.81 billion to $9.86 billion. For the next fiscal year, analysts anticipate that the company will report sales of $9.83 billion, with estimates ranging from $9.76 billion to $9.91 billion. Zacks’ sales calculations are an average based on a survey of analysts that follow Owens & Minor.

Owens & Minor (NYSE:OMI) last issued its earnings results on Wednesday, November 6th. The company reported $0.20 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.01. Owens & Minor had a negative net margin of 2.88% and a positive return on equity of 4.89%. The firm had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.45 billion. During the same quarter in the prior year, the business earned $0.32 earnings per share. Owens & Minor’s revenue for the quarter was down 2.7% on a year-over-year basis.

A number of brokerages recently weighed in on OMI. Bank of America upped their target price on shares of Owens & Minor from $4.00 to $7.50 and gave the stock a “neutral” rating in a research report on Friday, September 6th. Zacks Investment Research lowered shares of Owens & Minor from a “strong-buy” rating to a “hold” rating in a research report on Saturday. Finally, ValuEngine upgraded shares of Owens & Minor from a “hold” rating to a “buy” rating in a research report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $6.90.

A number of hedge funds have recently added to or reduced their stakes in OMI. Bank of Montreal Can lifted its position in Owens & Minor by 66.9% during the second quarter. Bank of Montreal Can now owns 8,066 shares of the company’s stock valued at $26,000 after purchasing an additional 3,233 shares during the last quarter. Atlantic Union Bankshares Corp bought a new position in Owens & Minor during the second quarter valued at $36,000. Stone Ridge Asset Management LLC bought a new position in Owens & Minor during the second quarter valued at $50,000. Royal Bank of Canada lifted its position in Owens & Minor by 37.4% during the second quarter. Royal Bank of Canada now owns 17,241 shares of the company’s stock valued at $55,000 after purchasing an additional 4,689 shares during the last quarter. Finally, First Trust Advisors LP bought a new position in Owens & Minor during the first quarter valued at $56,000. Institutional investors and hedge funds own 86.19% of the company’s stock.

Shares of NYSE:OMI traded down $0.12 during midday trading on Friday, reaching $6.71. 1,539,535 shares of the company were exchanged, compared to its average volume of 1,588,189. The company has a current ratio of 1.74, a quick ratio of 0.85 and a debt-to-equity ratio of 3.57. The business’s fifty day moving average is $6.51 and its two-hundred day moving average is $4.51. Owens & Minor has a one year low of $2.43 and a one year high of $9.33. The stock has a market cap of $453.79 million, a PE ratio of 5.83 and a beta of 1.45.

About Owens & Minor

Owens & Minor, Inc, together with its subsidiaries, operates as a healthcare solutions company in the United States and internationally. It operates through two segments, Global Solutions and Global Products. The Global Solutions segment offers a portfolio of products and services to healthcare providers and manufacturers.

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