Owens & Minor Inc. (NYSE:OMI) Senior Vice President and Corporate Treasurer Jonathan A. Leon sold 5,000 shares of the company’s stock, according to a recent SEC filing. The transaction, dated April 22, 2024, totaled $124,200, with the shares selling at a price of $24.84 each.
The sale was conducted under a Rule 10b5-1 compliant trading plan, which Leon adopted on August 9, 2023. Such plans allow company insiders to establish pre-arranged stock trading plans for selling shares in a predetermined time. This can provide them with a defense against potential charges of insider trading, as the operations are planned well in advance of any relevant public event or development.
Following the transaction, Leon’s remaining holdings of Owens & Minor stock total 84,673 shares. The company, known for distributing medical and surgical supplies, has its shares traded under the symbol OMI on the New York Stock Exchange.
Investors often monitor insider transactions as they can provide insight into executives’ perspectives on the company’s current valuation and future prospects. However, such sales and purchases may also be motivated by personal financial management considerations and therefore do not necessarily indicate a direct correlation with company performance.
The filing was signed on behalf of Jonathan A. Leon by Rosemarie W. France, acting as attorney, on April 23, 2024.
Insights on InvestingPro
As Owens & Minor Inc. (NYSE:OMI) moves through the market, recent insider activity has attracted attention, with senior vice president and corporate treasurer Jonathan A. Leon selling shares of the company. Investors examining OMI’s current financial health will find valuable insights in the real-time data provided by InvestingPro.
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The company’s market capitalization is approximately $1.96 billion, reflecting its position in the market. Despite a negative P/E ratio of -46.86, indicating a lack of profitability over the trailing twelve months, the adjusted P/E ratio for the same period shows a more favorable figure of 16.21. This suggests that, excluding exceptional items, the company’s earnings may be on a more stable footing.
With revenue growth of 3.8% over the trailing twelve months as of the fourth quarter of 2023, Owens & Minor has demonstrated the ability to grow its sales. This is further strengthened by a gross profit margin of 21.46%, demonstrating the company’s ability to maintain profitability on its products and services.
InvestingPro tips highlight that Owens & Minor trades at a low revenue valuation multiple and is a prominent player in the Healthcare Providers and Services industry. Furthermore, analysts expect the company to be profitable this year, which could be a positive sign for potential investors.
For those interested in further insights, there are additional InvestingPro tips for OMI, including implications for the company’s valuation and future earnings expectations. To explore these tips and more, visit https://www.investing.com/pro/OMI and remember to use the coupon code PRONEWS24 to get an additional 10% discount on the annual or biennial Pro and Pro+ subscription.
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