Owens Reports Highly Challenged 2Q; Restructuring Plan May Not Be Enough: Lowering Our FVE
After analyzing the rough second quarter, lowered near-term guidance, and our outlook for Owens’ ability to offset long-term secular headwinds, we are lowering the firm’s fair value estimate to $17.10 from $19.10 and reiterating our no-moat rating for the medical product wholesaler. The quarter reflected the major headwinds that are weighing on Owens as organic revenue growth remained modest and profits compressed materially. From our perspective, the headwinds the firm is facing are acceleratin...Owens & Minor is a healthcare solutions company. The company provides products and services to healthcare provider, manufacturers and directly to patients across the continuum of care. The company has two segments: Global Solutions, which provides a portfolio of medical and surgical supplies and service offerings to healthcare providers including supplier management, analytics, inventory management, and clinical supply management; and Global Products, which manufactures and sources medical surgical products through its production and kitting operations as well as provides medical supplies and solutions for the prevention of healthcare-associated infections across the acute and alternate site channels.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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