Zacks: Analysts Anticipate Premier, Inc. (PINC) Will Announce Earnings of $0.48 Per Share
Equities research analysts predict that Premier, Inc. (NASDAQ:PINC) will post earnings per share of $0.48 for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have provided estimates for Premier’s earnings, with the lowest EPS estimate coming in at $0.47 and the highest estimate coming in at $0.49. Premier posted earnings of $0.19 per share in the same quarter last year, which indicates a positive year over year growth rate of 152.6%. The business is expected to report its next quarterly earnings results on Monday, August 28th.
On average, analysts expect that Premier will report full year earnings of $1.79 per share for the current year, with EPS estimates ranging from $1.78 to $1.80. For the next year, analysts expect that the firm will report earnings of $1.96 per share, with EPS estimates ranging from $1.90 to $2.02. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research firms that follow Premier.
Premier (NASDAQ:PINC) last issued its earnings results on Monday, May 8th. The company reported $0.52 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.05. The firm had revenue of $379.80 million during the quarter, compared to analyst estimates of $401.71 million. Premier had a net margin of 31.41% and a negative return on equity of 13.95%. The business’s revenue was up 27.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.44 earnings per share.
Several equities analysts have weighed in on PINC shares. Bank of America Corporation raised Premier from an “underperform” rating to a “buy” rating and set a $37.00 target price for the company in a research report on Tuesday, March 28th. Zacks Investment Research raised Premier from a “hold” rating to a “buy” rating and set a $36.00 target price for the company in a research report on Tuesday, April 11th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $40.00 target price on shares of Premier in a research report on Thursday, April 13th. Finally, UBS AG reaffirmed a “neutral” rating and issued a $35.00 target price (up from $34.00) on shares of Premier in a research report on Thursday, May 25th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and twelve have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $38.25.
In other news, insider Craig S. Mckasson sold 10,750 shares of Premier stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $34.84, for a total value of $374,530.00. Following the completion of the transaction, the insider now owns 74,505 shares in the company, valued at approximately $2,595,754.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Susan D. Devore sold 40,000 shares of Premier stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $35.24, for a total value of $1,409,600.00. Following the completion of the transaction, the chief executive officer now owns 391,589 shares of the company’s stock, valued at approximately $13,799,596.36. The disclosure for this sale can be found here. Insiders sold a total of 184,710 shares of company stock valued at $6,490,663 in the last quarter. Company insiders own 17.14% of the company’s stock.
Several institutional investors have recently made changes to their positions in PINC. PNC Financial Services Group Inc. boosted its position in shares of Premier by 4.2% in the first quarter. PNC Financial Services Group Inc. now owns 3,664 shares of the company’s stock valued at $117,000 after buying an additional 149 shares during the last quarter. Advisors Asset Management Inc. boosted its position in shares of Premier by 49.8% in the first quarter. Advisors Asset Management Inc. now owns 4,389 shares of the company’s stock valued at $140,000 after buying an additional 1,459 shares during the last quarter. Investment Counselors of Maryland LLC bought a new position in shares of Premier during the first quarter valued at about $166,000. Pacer Advisors Inc. boosted its position in shares of Premier by 13.5% in the first quarter. Pacer Advisors Inc. now owns 6,652 shares of the company’s stock valued at $212,000 after buying an additional 791 shares during the last quarter. Finally, Teza Capital Management LLC bought a new position in shares of Premier during the first quarter valued at about $236,000.
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Shares of Premier (PINC) traded down 0.42% during mid-day trading on Tuesday, hitting $35.48. 192,438 shares of the stock were exchanged. Premier has a 12 month low of $28.27 and a 12 month high of $36.50. The company has a 50-day moving average price of $35.50 and a 200-day moving average price of $33.17. The stock has a market cap of $1.84 billion, a price-to-earnings ratio of 16.73 and a beta of 0.47.
Premier Company Profile
Premier, Inc is a healthcare improvement company. The Company is uniting an alliance of approximately 3,750 United States hospitals and more than 130,000 other provider organizations to transform healthcare. The Company operates healthcare group purchasing organizations and also provides integrated data and analytics, supply chain solutions, advisory services, performance improvement collaborative and other services.
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