Premier Inc (PINC) Expected to Post Quarterly Sales of $389.17 Million
Analysts expect Premier Inc (NASDAQ:PINC) to report $389.17 million in sales for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have issued estimates for Premier’s earnings, with the lowest sales estimate coming in at $385.00 million and the highest estimate coming in at $394.17 million. Premier reported sales of $313.27 million during the same quarter last year, which indicates a positive year over year growth rate of 24.2%. The firm is scheduled to announce 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’ sales calculations are an average based on a survey of sell-side research analysts that cover Premier.
Premier (NASDAQ:PINC) last issued its earnings results on Monday, August 21st. The company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.02). The business had revenue of $403.10 million for the quarter, compared to the consensus estimate of $400.45 million. During the same quarter in the prior year, the firm earned $0.36 EPS. The company’s revenue for the quarter was up 33.7% compared to the same quarter last year.
Several research firms have commented on PINC. Zacks Investment Research cut shares of Premier from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. BidaskClub cut shares of Premier from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Jefferies Group LLC reissued a “buy” rating and set a $40.00 target price on shares of Premier in a research note on Wednesday, August 9th. William Blair reissued an “ourperform” rating on shares of Premier in a research note on Tuesday, August 22nd. Finally, Piper Jaffray Companies reissued a “hold” rating on shares of Premier in a research note on Tuesday, August 22nd. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $38.43.
Shares of Premier (NASDAQ:PINC) traded up 0.22% on Wednesday, reaching $32.05. 188,512 shares of the company’s stock traded hands. Premier has a 52 week low of $28.27 and a 52 week high of $36.50. The firm has a market capitalization of $1.71 billion, a price-to-earnings ratio of 21.23 and a beta of 0.47. The company has a 50 day moving average price of $33.36 and a 200 day moving average price of $33.71.
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In other news, insider Craig S. Mckasson sold 10,750 shares of Premier stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $33.55, for a total value of $360,662.50. Following the transaction, the insider now owns 88,688 shares of the company’s stock, valued at approximately $2,975,482.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Susan D. Devore sold 40,000 shares of Premier stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $32.74, for a total transaction of $1,309,600.00. Following the completion of the transaction, the chief executive officer now directly owns 466,427 shares in the company, valued at approximately $15,270,819.98. The disclosure for this sale can be found here. Insiders sold a total of 78,014 shares of company stock worth $2,575,863 in the last ninety days. Corporate insiders own 17.14% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Burgundy Asset Management Ltd. grew its stake in shares of Premier by 2.3% in the 2nd quarter. Burgundy Asset Management Ltd. now owns 316,600 shares of the company’s stock worth $11,398,000 after purchasing an additional 7,020 shares during the last quarter. Public Employees Retirement System of Ohio boosted its holdings in shares of Premier by 32.7% in the second quarter. Public Employees Retirement System of Ohio now owns 20,554 shares of the company’s stock worth $740,000 after buying an additional 5,070 shares during the period. Verition Fund Management LLC boosted its holdings in shares of Premier by 46.4% in the second quarter. Verition Fund Management LLC now owns 15,002 shares of the company’s stock worth $540,000 after buying an additional 4,753 shares during the period. Seminole Management Co. Inc. acquired a new position in shares of Premier in the second quarter worth about $432,000. Finally, Sterling Capital Management LLC boosted its holdings in shares of Premier by 6.0% in the second quarter. Sterling Capital Management LLC now owns 109,075 shares of the company’s stock worth $3,927,000 after buying an additional 6,180 shares during the period. 37.75% of the stock is currently owned by institutional investors.
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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