Why Owens & Minor Stock Skyrocketed 55% Today

Shares of Owens & Minor (NYSE: OMI) were soaring 55.2% higher as of 11:38 a.m. EDT on Thursday. The huge jump came after the healthcare solutions company raised its full-year 2020 earnings guidance from a range of $1 to $1.20 per share to a range of $1.75 to $1.90.

If you're looking for a big catalyst for a healthcare stock (or any kind of stock, for that matter), a significant increase in its earnings outlook is sure to do the trick. And that's exactly what Owens & Minor did today by announcing projected 2020 adjusted earnings that were 66% higher at the midpoint than its previous guidance.

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Source Fool.com