Analysts predict that Premier Inc (NASDAQ:PINC) will report $433.58 million in sales for the current fiscal quarter, according to Zacks Investment Research. Eleven analysts have made estimates for Premier’s earnings, with estimates ranging from $429.30 million to $437.90 million. Premier reported sales of $425.34 million in the same quarter last year, which indicates a positive year over year growth rate of 1.9%. The business is expected to announce its next quarterly earnings results on Monday, May 6th.
According to Zacks, analysts expect that Premier will report full-year sales of $1.69 billion for the current fiscal year, with estimates ranging from $1.68 billion to $1.71 billion. For the next year, analysts forecast that the company will post sales of $1.78 billion, with estimates ranging from $1.74 billion to $1.84 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Premier.
Premier (NASDAQ:PINC) last issued its quarterly earnings results on Tuesday, February 5th. The company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.08. The company had revenue of $421.86 million during the quarter, compared to analysts’ expectations of $417.09 million. Premier had a net margin of 21.63% and a negative return on equity of 25.06%. The business’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period last year, the business earned $0.50 EPS.
PINC has been the subject of several research reports. Zacks Investment Research raised shares of Premier from a “sell” rating to a “hold” rating in a research note on Thursday, January 17th. UBS Group started coverage on shares of Premier in a research note on Thursday, January 17th. They set a “buy” rating and a $45.00 price target for the company. One research analyst has rated the stock with a sell rating, six have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Premier has a consensus rating of “Buy” and an average price target of $44.17.
In related news, Director Stephen R. D’arcy sold 3,733 shares of the firm’s stock in a transaction on Friday, February 8th. The shares were sold at an average price of $36.90, for a total value of $137,747.70. Following the completion of the transaction, the director now directly owns 10,676 shares of the company’s stock, valued at $393,944.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Leigh Anderson sold 11,381 shares of the firm’s stock in a transaction on Wednesday, January 16th. The shares were sold at an average price of $40.00, for a total transaction of $455,240.00. Following the completion of the transaction, the insider now directly owns 20,032 shares of the company’s stock, valued at $801,280. The disclosure for this sale can be found here. Insiders sold 97,031 shares of company stock valued at $3,694,019 over the last three months. 18.30% of the stock is owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in Premier by 3.9% during the third quarter. Vanguard Group Inc. now owns 5,067,095 shares of the company’s stock worth $231,972,000 after purchasing an additional 190,635 shares during the period. Vanguard Group Inc boosted its position in Premier by 3.9% during the third quarter. Vanguard Group Inc now owns 5,067,095 shares of the company’s stock worth $231,972,000 after purchasing an additional 190,635 shares during the period. Massachusetts Financial Services Co. MA boosted its position in Premier by 17.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,174,768 shares of the company’s stock worth $118,577,000 after purchasing an additional 464,646 shares during the period. BlackRock Inc. boosted its position in Premier by 5.8% during the fourth quarter. BlackRock Inc. now owns 2,501,972 shares of the company’s stock worth $93,451,000 after purchasing an additional 137,075 shares during the period. Finally, Jennison Associates LLC boosted its position in Premier by 33.0% during the fourth quarter. Jennison Associates LLC now owns 1,909,885 shares of the company’s stock worth $71,334,000 after purchasing an additional 473,990 shares during the period. 41.74% of the stock is owned by hedge funds and other institutional investors.
Shares of PINC traded down $0.38 during mid-day trading on Monday, hitting $36.57. 752,428 shares of the company’s stock were exchanged, compared to its average volume of 758,705. The stock has a market capitalization of $4.93 billion, a P/E ratio of 52.24, a P/E/G ratio of 1.34 and a beta of 0.50. Premier has a 52 week low of $28.81 and a 52 week high of $47.22.
Premier Company Profile
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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