Owens & Minor Inc.'s (NYSE:OMI) Senior Vice President and Corporate Treasurer, Jonathan A. Leon, has sold 5,000 shares of company stock, according to a recent SEC filing. The transaction, dated April 22, 2024, amounted to a total of $124,200, with the shares sold at a price of $24.84 each.
The sale was conducted under a Rule 10b5-1 trading plan, which was adopted by Leon on August 9, 2023. Such plans allow company insiders to establish pre-arranged stock trading plans for selling stocks at a predetermined time. This can provide them with a defense against potential accusations of trading on inside information, as the trades are planned well in advance of any material public events or developments.
Following the transaction, Leon's remaining holdings in Owens & Minor stock stand at 84,673 shares. The company, known for its distribution of medical and surgical supplies, has its shares traded under the ticker symbol OMI on the New York Stock Exchange.
Investors often monitor insider transactions as they can provide insights into executives' perspectives on the company's current valuation and future prospects. However, such sales and purchases can also be motivated by personal financial management considerations and therefore do not necessarily indicate a direct correlation with the company's performance.
The filing was signed on behalf of Jonathan A. Leon by Rosemarie W. France, acting as Power of Attorney, on April 23, 2024.
InvestingPro Insights
As Owens & Minor Inc. (NYSE:OMI) navigates through the market, recent insider activity has drawn attention, with Senior Vice President and Corporate Treasurer Jonathan A. Leon's sale of company stock. Investors looking at OMI's current financial health will find valuable insights in the real-time data provided by InvestingPro.
The company's market capitalization stands at 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 last twelve months, the adjusted P/E ratio for the same period shows a more favorable figure of 16.21. This suggests that when exceptional items are excluded, the company's earnings may be on a more stable footing.
With a revenue growth of 3.8% in the last twelve months as of Q4 2023, Owens & Minor has demonstrated a capacity for increasing its sales. This is further bolstered by a gross profit margin of 21.46%, showcasing the company's ability to maintain profitability on its products and services.
InvestingPro Tips highlight that Owens & Minor is trading at a low revenue valuation multiple and is a prominent player in the Healthcare Providers & Services industry. Additionally, analysts are predicting that the company will be profitable this year, which could be a positive sign for potential investors.
For those interested in further insights, there are additional InvestingPro Tips available for OMI, including the company's valuation implications 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% off a yearly or biyearly Pro and Pro+ subscription.
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