The Clear Reason Owens & Minor, Inc. Tumbled as Much as 19%
Shares of Owens & Minor (NYSE: OMI), a global healthcare services company that focuses on supply chain management, plunged as much as 19% on Wednesday after the company released its third-quarter earnings results. As you can probably surmise by the substantive move lower, the company fell short of Wall Street's expectations.
For the quarter, Owens & Minor reported $2.33 billion in consolidated sales, which was a decline of $90 million from the year-ago quarter and $70 million below what Wall Street had forecast. On a broad scale, the company blamed the previously disclosed transition of a significant customer last year, along with slower growth from existing customers, for its weak revenue figure.
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Source: Fool.com
Owens & Minor Inc. Stock
€15.80
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Based on 2 Buy predictions and 1 Sell predictions the sentiment towards Owens & Minor Inc. is rather balanced.
With a target price of 25 € there is a hugely positive potential of 58.23% for Owens & Minor Inc. compared to the current price of 15.8 €.
