$389.17 Million in Sales Expected for Premier, Inc. (PINC) This Quarter
Analysts expect Premier, Inc. (NASDAQ:PINC) to announce $389.17 million in sales for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Premier’s earnings, with the highest sales estimate coming in at $394.17 million and the lowest estimate coming in at $385.00 million. Premier reported sales of $313.27 million in the same quarter last year, which indicates a positive year-over-year growth rate of 24.2%. The company is scheduled to report its next earnings report on Monday, November 6th.
According to Zacks, analysts expect that Premier will report full year sales of $389.17 million for the current fiscal year, with estimates ranging from $1.60 billion to $1.62 billion. For the next financial year, analysts anticipate that the firm will report sales of $1.74 billion per share, with estimates ranging from $1.73 billion to $1.75 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Premier.
Premier (NASDAQ:PINC) last posted its earnings results on Monday, August 21st. The company reported $0.50 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by ($0.02). The firm had revenue of $403.10 million during the quarter, compared to analyst estimates of $400.45 million. Premier had a negative return on equity of 16.27% and a net margin of 0.66%. The company’s revenue for the quarter was up 33.7% on a year-over-year basis. During the same quarter last year, the business posted $0.36 earnings per share.
PINC has been the subject of a number of analyst reports. Zacks Investment Research upgraded shares of Premier from a “sell” rating to a “hold” rating in a research report on Tuesday, September 5th. BidaskClub lowered shares of Premier from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 23rd. Piper Jaffray Companies restated a “hold” rating on shares of Premier in a research report on Tuesday, August 22nd. William Blair restated an “ourperform” rating on shares of Premier in a research report on Tuesday, August 22nd. Finally, Jefferies Group LLC restated a “buy” rating and issued a $40.00 price objective on shares of Premier in a research report on Wednesday, August 9th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $38.43.
In related news, SVP Leigh Anderson sold 2,264 shares of Premier stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $32.73, for a total value of $74,100.72. Following the transaction, the senior vice president now directly owns 14,654 shares of the company’s stock, valued at $479,625.42. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Craig S. Mckasson sold 10,750 shares of Premier stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $33.55, for a total transaction of $360,662.50. Following the completion of the transaction, the insider now directly owns 88,688 shares in the company, valued at $2,975,482.40. The disclosure for this sale can be found here. Insiders have sold 78,014 shares of company stock worth $2,575,863 over the last three months. Insiders own 17.14% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Alps Advisors Inc. increased its stake in shares of Premier by 0.3% in the second quarter. Alps Advisors Inc. now owns 15,462 shares of the company’s stock worth $557,000 after buying an additional 40 shares during the period. Advisors Asset Management Inc. increased its stake in shares of Premier by 1.6% in the second quarter. Advisors Asset Management Inc. now owns 4,461 shares of the company’s stock worth $161,000 after buying an additional 72 shares during the period. PNC Financial Services Group Inc. increased its stake 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 worth $117,000 after buying an additional 149 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of Premier by 7.8% in the second quarter. The Manufacturers Life Insurance Company now owns 4,373 shares of the company’s stock worth $157,000 after buying an additional 315 shares during the period. Finally, People s United Financial Inc. increased its stake in shares of Premier by 4.0% in the second quarter. People s United Financial Inc. now owns 9,728 shares of the company’s stock worth $350,000 after buying an additional 372 shares during the period. 37.75% of the stock is currently owned by institutional investors.
Shares of Premier (NASDAQ:PINC) opened at 32.32 on Wednesday. The company’s 50 day moving average is $33.36 and its 200-day moving average is $33.71. The firm has a market capitalization of $1.72 billion, a price-to-earnings ratio of 21.40 and a beta of 0.47. Premier has a one year low of $28.27 and a one year high of $36.50.
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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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