These Analysts Boost Price Targets On Owens & Minor Following Q1 Results

Owens & Minor Inc OMI reported higher sales for its first quarter.

Owens & Minor reported Q1 adjusted EPS of $0.05, down from $0.96 a year ago, vs. consensus of $(0.09). Q1 revenues marginally increased to $2.52 billion, up from $2.41 billion, vs. $2.40 analyst consensus.

Owens & Minor raised FY23 revenue outlook to $10.2 billion-$10.6 billion compared to prior guidance of $10.1 billion-$10.5 billion versus the consensus of $10.17 billion. The company expects adjusted EPS of $1.30 - $1.65, up from prior guidance of $1.15 - $1.65, vs. the consensus of $1.22.

Owens & Minor shares rose 37.5% to close at $18.63 on Friday and lost 2% in today’s pre-market trading session.

These analysts made changes to their price targets on Owens & Minor after the company reported quarterly results.

• Baird raised the price target on Owens & Minor from $18 to $21. Baird analyst Eric Coldwell maintained a Neutral rating on the stock.
• UBS increased Owens & Minor price target from $22 to $24. UBS analyst Kevin Caliendo maintained a Buy rating on the stock.
• Credit Suisse boosted Owens & Minor price target from $17 to $18. Credit Suisse analyst Jonathan Yon maintained the stock with a Neutral rating.

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