Healthcare Supplier Pops 50% After Boosting Guidance

© Reuters.

By Christiana Sciaudone —  Owens & Minor Inc (NYSE:) is up almost 50% on Thursday after bumping up guidance. 

The healthcare supplier increased its full year 2020 outlook, with adjusted net income per share of between $1.75 and $1.90 compared to the previously expected $1 to $1.20. The company cited higher productivity, the deployment and continued strong demand of personal protective equipment ahead of schedule, as well as greater than expected elective surgeries volume.

Earnings growth is also expected, and 2021 should also see “positive business trends” from the acceleration of investments.    

Shares have already more than quadrupled from the start of the year. 


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