7/25/2023 0 Comments Owens and minor![]() ![]() ![]() Find related and similar companies as well. The rating agency said Mechanicsville, Va.-based Owens & Minor's credit profile has rapidly improved in the midst of the COVID-19 pandemic, considering its status as one of the few personal protective equipment manufacturers in the Americas. Descriptions in this news article were not prepared by S&P Global Ratings. View Owens & Minor (location in Virginia, United States, revenue, industry and description. S&P Global Ratings upgraded Owens & Minor Inc.'s issuer credit rating to B+ from B- and set the outlook to stable. This S&P Global Market Intelligence news article may contain information about credit ratings issued by S&P Global Ratings. Meanwhile, Moody's also upgraded Owens & Minor's ratings and changed the outlook to positive from stable. The new facility will be located in Morgantown, West Virginia, and will be completed in late 2023. The stable outlook reflects the expectation for the company to have an adjusted leverage in the 4x-5x range, maintain a conservative financial policy, and continue generating positive free cash flows on a sustained basis, the rating agency said. On June 27, Richmond, Virginia-based global healthcare solutions company Owens & Minor broke ground on the future site of one of the region’s largest dedicated acute care medical distribution facilities. Ratings expects Owens & Minor to maintain a conservative financial policy by prioritizing debt paydowns over other shareholder-friendly activities, even after 2020. Expected adjusted leverage decreases to the 4x-5x range from above 5x, with consideration of the proposed debt repayment and the company's recent move to raise its earnings per share guidance. Ratings views the company's $173.7 million share offering positively, as a substantial amount of the net proceeds will be used to repay term A loans. ![]() This suggests a possible upside of 1.0 from the stocks current price. On average, they predict the companys share price to reach 18.83 in the next year. Their OMI share price forecasts range from 17.00 to 24.00. Morgan Securities LLC served as financial advisers to Owens & Minor on the deal, which is expected to close during the first half of 2022.S&P Global Ratings upgraded Owens & Minor Inc.'s issuer credit rating to B+ from B- and set the outlook to stable. 5 equities research analysts have issued 12 month price objectives for Owens & Minors stock. The buyout of Apria would add products such as a home respiratory therapy and sleep apnea devices to Owens & Minor's portfolio.Įvercore and J.P. Richmond, Virginia-based Owens & Minor has its own portfolio of products, including for diabetes, wound care and personal protective equipment. ![]() The deal comes at a time when lockdowns and other curbs are being implemented to stem the two-year long COVID-19 pandemic, which has triggered strong demand for home healthcare over clinic-based services. Visionary manager for Owens & Minor (O & M), the major national medical and surgical distribution company, called for help and the cost of the logistics managers to develop innovative pricing schedule based on the client, not the price of the product, as the existing cost-plus pricing structure made it impossible for O & M in the price of the service properly. Shares of Apria rose 23% to $36.61 in premarket trading. Owens & Minor will pay $37.50 per share for Apria, representing a premium of 26.2% to Apria's closing price on Friday, the companies said in a statement on Monday. Jan 10 (Reuters) - Medical products supplier Owens & Minor Inc (OMI.N) will acquire Apria Inc (APR.O) for about $1.45 billion in cash to bolster its presence in the fast growing home healthcare services market. ![]()
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