Brokerages expect that Premier Inc (NASDAQ:PINC) will post $0.61 earnings per share for the current quarter, Zacks Investment Research reports. Ten analysts have made estimates for Premier’s earnings, with the highest EPS estimate coming in at $0.64 and the lowest estimate coming in at $0.57. Premier posted earnings of $0.44 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 38.6%. The business is scheduled to issue its next quarterly earnings results on Monday, November 5th.
According to Zacks, analysts expect that Premier will report full year earnings of $2.69 per share for the current financial year, with EPS estimates ranging from $2.65 to $2.77. For the next fiscal year, analysts anticipate that the firm will report earnings of $2.90 per share, with EPS estimates ranging from $2.80 to $3.00. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that cover Premier.
Premier (NASDAQ:PINC) last issued its quarterly earnings data on Tuesday, August 21st. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.04. Premier had a negative return on equity of 25.18% and a net margin of 47.84%. The firm had revenue of $433.96 million for the quarter, compared to analyst estimates of $412.24 million. During the same period in the prior year, the firm posted $0.50 EPS. The company’s revenue for the quarter was up 7.7% on a year-over-year basis.
A number of brokerages have commented on PINC. ValuEngine raised Premier from a “sell” rating to a “hold” rating in a report on Monday, June 11th. Barclays began coverage on Premier in a report on Tuesday. They issued an “overweight” rating on the stock. Canaccord Genuity lowered Premier from a “buy” rating to a “hold” rating and set a $43.00 price objective on the stock. in a report on Tuesday, August 14th. They noted that the move was a valuation call. BidaskClub raised Premier from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 15th. Finally, Zacks Investment Research raised Premier from a “sell” rating to a “hold” rating in a report on Saturday, August 18th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Premier has an average rating of “Buy” and a consensus price target of $40.63.
In other news, CFO Craig S. Mckasson sold 6,250 shares of the stock in a transaction on Friday, August 24th. The stock was sold at an average price of $43.09, for a total transaction of $269,312.50. Following the sale, the chief financial officer now directly owns 90,184 shares of the company’s stock, valued at approximately $3,886,028.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Leigh Anderson sold 1,923 shares of the stock in a transaction on Monday, September 17th. The stock was sold at an average price of $43.26, for a total value of $83,188.98. Following the sale, the insider now directly owns 20,076 shares in the company, valued at $868,487.76. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,446 shares of company stock worth $583,655. 17.52% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wells Fargo & Company MN lifted its position in shares of Premier by 13.5% during the 1st quarter. Wells Fargo & Company MN now owns 152,781 shares of the company’s stock worth $4,783,000 after buying an additional 18,115 shares during the last quarter. Rhumbline Advisers lifted its position in shares of Premier by 2.9% during the 1st quarter. Rhumbline Advisers now owns 64,856 shares of the company’s stock worth $2,031,000 after buying an additional 1,853 shares during the last quarter. Swiss National Bank lifted its position in shares of Premier by 9.7% during the 1st quarter. Swiss National Bank now owns 99,512 shares of the company’s stock worth $3,116,000 after buying an additional 8,800 shares during the last quarter. Financial Gravity Wealth Inc. bought a new stake in shares of Premier during the 1st quarter worth $151,000. Finally, Schwab Charles Investment Management Inc. lifted its position in shares of Premier by 6.3% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 247,511 shares of the company’s stock worth $7,750,000 after buying an additional 14,582 shares during the last quarter. 42.41% of the stock is currently owned by institutional investors.
NASDAQ PINC traded up $0.51 on Friday, reaching $45.27. The stock had a trading volume of 1,017,900 shares, compared to its average volume of 674,843. Premier has a 1-year low of $27.16 and a 1-year high of $45.54. The firm has a market cap of $5.94 billion, a price-to-earnings ratio of 64.71, a P/E/G ratio of 1.52 and a beta of 0.55.
Premier, Inc, together with its subsidiaries, operates as a healthcare improvement company in the United States. The company operates through two segments, Supply Chain Services and Performance Services. The Supply Chain Services segment offers its members with access to a range of products and services, including medical and surgical products, pharmaceuticals, laboratory supplies, capital equipment, information technology, facilities and construction, and food and nutritional products, as well as purchased services, such as clinical engineering and document shredding services and software-as-a-service informatics products.
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