Owens & Minor Blasts Up on Earnings Beat
Market News

Owens & Minor Blasts Up on Earnings Beat

Healthcare stock Owens & Minor (NYSE:OMI) may not exactly be a household name, but it’s definitely making a push today. It’s up over 41% at the time of writing, thanks largely to an impressive performance in its recent earnings report.

Owens & Minor posted earnings of $0.05 per share, which is actually impressive when compared to the expected loss of -$0.09 per share. Revenue was also impressive. It brought in $2.5 billion against expectations of $2.4 billion.

That was good news enough by itself, but things got better from there. Edward Pesicka, Owens & Minor’s CEO, noted that its Patient Direct segment was a “…significant driver of our year-over-year top-line growth.” Further, Owens & Minor has generated enough cash so far to pay off a hefty slug of outstanding debt: $117 million worth just this quarter. This is part of a larger realignment plan that goes all the way back to February.

While this quarter was certainly a success for Owens & Minor, analysts are a little more skeptical. In fact, with one Buy, three Holds, and one Sell, OMI stock is currently considered a Hold. With an average price target of $18.20, it also comes with a 4.66% downside risk.



Price Change
S&P 500
Dow Jones
Nasdaq 100
Russell 2000

Popular Articles