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      Owens & Minor (OMI) Held Up Well In Spite Of Insider Selling

      By Fahim Awan

      Published on

      December 22, 2023

      1:36 PM UTC

      Owens & Minor (OMI) Held Up Well In Spite Of Insider Selling

      Owens & Minor, Inc. (NYSE: OMI) shares exhibited a notable stabilization on the US financial charts during Thursday’s trading session. The stock concluded the preceding session with a marginal decline of 0.10%, settling at $20.20. Notably, this stability persisted even in the aftermath of a recent insider selling.

      In a filing with the Securities and Exchange Commission (SEC) made yesterday, it came to light that Jonathan A. Leon, Senior Vice President and Corporate Treasurer at Owens & Minor (OMI), divested 5,000 company shares. The transaction, executed by the executive, transpired at a per-share price of $21.34, yielding gross proceeds totaling $106,700.

      Despite this insider activity, it appears that recent developments within Owens & Minor have contributed to maintaining the stock’s stability. The company articulated its strategic vision for fostering and expanding profitability during its 2023 Investor Day event held this month in Boston.

      Owens & Minor unveiled a comprehensive long-term strategy geared towards augmenting both the cash generation and profitability profiles across its business ventures. The company intends to capitalize on the robust platform it has established in its Patient Direct segment, thereby solidifying its position among industry leaders and harnessing the momentum within the home-based care market.

      Concurrently, Owens & Minor aims to enhance the margin profile of its Products & Healthcare Services segment. The execution of this strategy will be reinforced by disciplined capital allocation and strategic investments.

      The company believes that such measures will bolster its competitive standing in key markets, amplify profitability, and unlock growth potential, thereby laying the foundation for sustained growth and value creation for both Owens & Minor and its investors in the foreseeable future.

      Additionally, the company envisions significant opportunities to optimize the Products & Healthcare Services segment for an improved margin profile. The anticipation of margin expansion and robust cash generation is expected to fortify the company’s healthy balance sheet moving forward.

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