$400.05 Million in Sales Expected for Premier, Inc. (NASDAQ:PINC) This Quarter
Wall Street analysts expect that Premier, Inc. (NASDAQ:PINC) will announce $400.05 million in sales for the current fiscal quarter, according to Zacks. Eight analysts have provided estimates for Premier’s earnings. The highest sales estimate is $403.70 million and the lowest is $391.90 million. Premier reported sales of $301.42 million in the same quarter last year, which indicates a positive year-over-year growth rate of 32.7%. The business is expected to announce its next quarterly earnings report on Monday, August 28th.
According to Zacks, analysts expect that Premier will report full year sales of $400.05 million for the current financial year, with estimates ranging from $1.44 billion to $1.46 billion. For the next financial year, analysts expect that the company will report sales of $1.64 billion per share, with estimates ranging from $1.62 billion to $1.68 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow Premier.
Premier (NASDAQ:PINC) last posted its quarterly earnings data on Monday, May 8th. The company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.05. The company had revenue of $379.80 million for 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%. Premier’s quarterly revenue was up 27.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.44 earnings per share.
A number of analysts recently weighed in on PINC shares. Zacks Investment Research cut shares of Premier from a “buy” rating to a “hold” rating in a report on Friday, May 12th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $40.00 price objective on shares of Premier in a report on Thursday, April 13th. Bank of America Corporation increased their price objective on shares of Premier from $37.00 to $39.00 and gave the stock a “buy” rating in a report on Thursday, May 25th. Finally, UBS AG reaffirmed a “neutral” rating and issued a $35.00 price objective (up previously from $34.00) on shares of Premier in a report on Thursday, May 25th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and twelve have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $38.25.
Shares of Premier (NASDAQ PINC) traded down 0.08% during mid-day trading on Thursday, hitting $35.29. 13,679 shares of the stock traded hands. The firm’s 50 day moving average price is $35.50 and its 200-day moving average price is $33.21. Premier has a 12-month low of $28.27 and a 12-month high of $36.50. The stock has a market cap of $1.83 billion, a P/E ratio of 16.64 and a beta of 0.47.
In other news, insider Craig S. Mckasson sold 10,750 shares of the firm’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $34.84, for a total transaction 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Leigh Anderson sold 1,099 shares of the firm’s stock in a transaction dated Monday, June 19th. The shares were sold at an average price of $35.29, for a total transaction of $38,783.71. Following the transaction, the senior vice president now owns 7,655 shares of the company’s stock, valued at approximately $270,144.95. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 184,710 shares of company stock valued at $6,490,663. Insiders own 17.14% of the company’s stock.
Several institutional investors have recently bought and sold shares of PINC. Pembroke Management LTD raised its position in Premier by 44.9% in the second quarter. Pembroke Management LTD now owns 533,700 shares of the company’s stock valued at $19,213,000 after buying an additional 165,300 shares during the period. BB&T Corp acquired a new position in Premier during the second quarter valued at $458,000. Douglas Lane & Associates LLC raised its position in Premier by 9.5% in the second quarter. Douglas Lane & Associates LLC now owns 1,028,792 shares of the company’s stock valued at $37,037,000 after buying an additional 89,495 shares during the period. Aperio Group LLC raised its position in Premier by 24.3% in the second quarter. Aperio Group LLC now owns 40,656 shares of the company’s stock valued at $1,464,000 after buying an additional 7,951 shares during the period. Finally, Meeder Asset Management Inc. raised its position in Premier by 108.3% in the second quarter. Meeder Asset Management Inc. now owns 39,469 shares of the company’s stock valued at $1,421,000 after buying an additional 20,524 shares during the period.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Premier Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Premier Inc. and related companies with MarketBeat.com's FREE daily email newsletter.