Premier Inc (NASDAQ:PINC) – Stock analysts at KeyCorp raised their Q3 2018 earnings per share (EPS) estimates for Premier in a report issued on Monday. KeyCorp analyst D. Hooker now anticipates that the company will post earnings of $0.62 per share for the quarter, up from their prior forecast of $0.52. KeyCorp also issued estimates for Premier’s Q4 2018 earnings at $0.62 EPS, Q1 2019 earnings at $0.61 EPS, Q2 2019 earnings at $0.62 EPS, Q3 2019 earnings at $0.62 EPS and Q4 2019 earnings at $0.62 EPS.
Other analysts also recently issued research reports about the company. Zacks Investment Research raised Premier from a “hold” rating to a “buy” rating and set a $33.00 price objective on the stock in a research note on Wednesday, January 10th. Citigroup started coverage on Premier in a research note on Thursday, January 4th. They issued a “neutral” rating on the stock. Evercore ISI started coverage on Premier in a research note on Thursday, January 18th. They issued an “in-line” rating and a $33.50 price objective on the stock. JPMorgan Chase & Co. restated a “neutral” rating and issued a $30.00 target price on shares of Premier in a report on Tuesday, December 19th. Finally, SunTrust Banks decreased their target price on Premier to $36.00 and set a “buy” rating on the stock in a report on Friday, November 17th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $36.86.
Premier (NASDAQ:PINC) last announced its earnings results on Monday, February 5th. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.02. The firm had revenue of $411.40 million for the quarter, compared to the consensus estimate of $393.35 million. Premier had a negative return on equity of 18.21% and a net margin of 14.14%. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.46 EPS.
Hedge funds have recently modified their holdings of the company. Suntrust Banks Inc. purchased a new position in shares of Premier during the second quarter valued at $276,000. Allianz Asset Management GmbH purchased a new position in Premier in the third quarter valued at about $316,000. Vanguard Group Inc. grew its stake in Premier by 7.4% in the second quarter. Vanguard Group Inc. now owns 4,345,748 shares of the company’s stock valued at $156,447,000 after purchasing an additional 300,387 shares in the last quarter. Reinhart Partners Inc. purchased a new position in Premier in the third quarter valued at about $1,727,000. Finally, Wells Fargo & Company MN grew its stake in Premier by 101.5% in the third quarter. Wells Fargo & Company MN now owns 119,608 shares of the company’s stock valued at $3,896,000 after purchasing an additional 60,257 shares in the last quarter. Institutional investors and hedge funds own 39.52% of the company’s stock.
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Premier Company Profile
Premier, Inc is a healthcare improvement company. The Company is uniting an alliance of approximately 3,900 United States hospitals and health systems and approximately 150,000 other providers and 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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