$2.28 Billion in Sales Expected for Owens & Minor, Inc. (NYSE:OMI) This Quarter

Wall Street analysts predict that Owens & Minor, Inc. (NYSE:OMI) will post $2.28 billion in sales for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Owens & Minor’s earnings. The lowest sales estimate is $2.23 billion and the highest is $2.34 billion. Owens & Minor posted sales of $2.12 billion during the same quarter last year, which suggests a positive year over year growth rate of 7.5%. The company is scheduled to report its next quarterly earnings report on Wednesday, May 5th.

According to Zacks, analysts expect that Owens & Minor will report full-year sales of $9.44 billion for the current financial year, with estimates ranging from $9.41 billion to $9.47 billion. For the next financial year, analysts forecast that the business will report sales of $9.57 billion, with estimates ranging from $9.57 billion to $9.58 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover Owens & Minor.

Owens & Minor (NYSE:OMI) last posted its quarterly earnings results on Wednesday, February 24th. The company reported $1.14 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.28. Owens & Minor had a positive return on equity of 18.07% and a negative net margin of 0.72%. The firm had revenue of $2.36 billion during the quarter, compared to the consensus estimate of $2.17 billion.

A number of equities research analysts have issued reports on OMI shares. Robert W. Baird raised Owens & Minor to an “outperform” rating and boosted their price target for the company from $45.00 to $50.00 in a research report on Friday, March 26th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell began coverage on Owens & Minor in a research report on Friday, December 11th. They set a “neutral” rating and a $30.00 price target for the company. Smith Barney Citigroup began coverage on Owens & Minor in a research note on Friday, December 11th. They set a “neutral” rating and a $30.00 price objective on the stock. Barclays boosted their price objective on Owens & Minor from $23.00 to $33.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 25th. Finally, Zacks Investment Research upgraded Owens & Minor from a “hold” rating to a “strong-buy” rating and set a $39.00 price objective on the stock in a research note on Tuesday, March 2nd. Five analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $28.45.

In other Owens & Minor news, Director Robert J. Henkel purchased 1,000 shares of the business’s stock in a transaction that occurred on Friday, January 15th. The shares were acquired at an average price of $27.11 per share, for a total transaction of $27,110.00. Following the completion of the purchase, the director now owns 21,000 shares in the company, valued at approximately $569,310. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Christopher M. Lowery sold 28,078 shares of the company’s stock in a transaction that occurred on Monday, April 5th. The shares were sold at an average price of $37.92, for a total value of $1,064,717.76. Following the sale, the insider now owns 327,659 shares in the company, valued at approximately $12,424,829.28. The disclosure for this sale can be found here. In the last quarter, insiders sold 55,447 shares of company stock worth $1,984,139. Insiders own 2.15% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in OMI. Graves Light Private Wealth Management Inc. acquired a new stake in Owens & Minor during the fourth quarter valued at approximately $25,000. Perigon Wealth Management LLC acquired a new stake in Owens & Minor during the fourth quarter valued at approximately $54,000. First Trust Advisors LP acquired a new stake in Owens & Minor during the first quarter valued at approximately $56,000. Veriti Management LLC acquired a new stake in Owens & Minor during the fourth quarter valued at approximately $72,000. Finally, Canal Capital Management LLC acquired a new stake in Owens & Minor during the fourth quarter valued at approximately $205,000. Hedge funds and other institutional investors own 72.98% of the company’s stock.

OMI stock traded down $0.21 during trading on Monday, reaching $37.21. 17,479 shares of the stock traded hands, compared to its average volume of 1,290,262. The business’s 50 day moving average price is $34.31 and its 200-day moving average price is $28.16. Owens & Minor has a 52-week low of $5.50 and a 52-week high of $39.45. The company has a debt-to-equity ratio of 2.44, a current ratio of 1.47 and a quick ratio of 0.70. The firm has a market capitalization of $2.74 billion, a PE ratio of -37.80, a P/E/G ratio of 0.24 and a beta of 0.26.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 31st. Investors of record on Monday, March 15th were paid a $0.002 dividend. This represents a $0.01 annualized dividend and a dividend yield of 0.02%. The ex-dividend date was Friday, March 12th. Owens & Minor’s dividend payout ratio (DPR) is 1.79%.

Owens & Minor Company Profile

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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