Owens & Minor (OMI) reported quarterly earnings results on Tuesday, May-3-2016. The company said it had a profit of $0.50 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.03. Analysts had a consensus of $0.47. The company posted revenue of $2455.80 million in the period, compared to analysts expectations of $2432.90 million. The company’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.44 EPS.
Many Wall Street Analysts have commented on Owens & Minor. Shares were Downgraded by Robert W. Baird on Apr 21, 2016 to ” Underperform” and Lowered the Price Target to $ 32 from a previous price target of $36 .Owens & Minor was Initiated by Credit Suisse to “Underperform” on Mar 16, 2016.
Owens & Minor closed down -0.39 points or -1.07% at $36 with 10,38,428 shares getting traded on Monday. Post opening the session at $36.38, the shares hit an intraday low of $35.51 and an intraday high of $36.725 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
In a different news, on Feb 24, 2016, Richard W Mears (SVP, Chief Information Officer) sold 6,000 shares at $39.11 per share price. According to the SEC, on Feb 23, 2016, James E Rogers (director) sold 1,800 shares at $39.83 per share price. On Feb 18, 2016, Erika T Davis (SVP, Chief of Staff) sold 5,301 shares at $38.70 per share price, according to the Form-4 filing with the securities and exchange commission.
Owens & Minor Inc. is a healthcare logistics company. The Company provides supply chain assistance to the providers of healthcare services and the manufacturers of healthcare products supplies and devices. The Company operates in two segments: Domestic and International. Domestic segment includes all functions in the United States relating to its role as a healthcare logistics company providing distribution packaging and logistics services to healthcare providers and manufacturers. International segment consists of its European third-party logistics and packaging businesses. It is focused on its operations on healthcare logistics services and provides its customers with a service portfolio that covers procurement inventory management delivery and sourcing of products for the healthcare market. Its customers include hospitals integrated healthcare systems group purchasing organizations manufacturers of life-science and medical devices and supplies including pharmaceuticals.