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On May 3, 2024, Owens announced 1Q24 financial results that beat consensus estimates. Additionally, the Company reported Patient Direct revenue that was below expectations. Management blamed it on “unique challenges that occurred in the quarter.” Analysts commenting on the missed revenue noted 2024 may be even more back-half weighted than management already guided.
Following this news, Owens’s stock price fell by $6.30 per share, or approximately 26% to close at $18.21 per share.