Brokerages predict that Premier Inc (NASDAQ:PINC) will announce $406.69 million in sales for the current fiscal quarter, Zacks reports. Nine analysts have made estimates for Premier’s earnings, with the lowest sales estimate coming in at $401.20 million and the highest estimate coming in at $415.00 million. Premier posted sales of $379.80 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 7.1%. The company is scheduled to report its next quarterly earnings results on Monday, May 14th.
On average, analysts expect that Premier will report full-year sales of $406.69 million for the current fiscal year, with estimates ranging from $1.61 billion to $1.64 billion. For the next financial year, analysts forecast that the company will post sales of $1.73 billion per share, with estimates ranging from $1.71 billion to $1.76 billion. Zacks’ sales averages are a mean average based on a survey of analysts that cover Premier.
Premier (NASDAQ:PINC) last posted its earnings results on Monday, February 5th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.02. The company had revenue of $411.40 million during the quarter, compared to analysts’ expectations of $393.35 million. Premier had a negative return on equity of 19.94% and a net margin of 14.14%. The firm’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.46 earnings per share.
PINC has been the subject of several recent analyst reports. Zacks Investment Research raised Premier from a “hold” rating to a “buy” rating and set a $33.00 target price for the company in a research note on Wednesday, January 10th. SunTrust Banks cut their target price on Premier to $36.00 and set a “buy” rating for the company in a research note on Friday, November 17th. Robert W. Baird reissued a “buy” rating and set a $35.00 target price on shares of Premier in a research note on Friday, November 10th. Oppenheimer reissued a “buy” rating and set a $40.00 target price on shares of Premier in a research note on Thursday, December 7th. Finally, Benchmark assumed coverage on Premier in a research note on Thursday, February 8th. They set a “buy” rating and a $40.00 target price for the company. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $36.71.
In other news, Director Stephen R. D’arcy sold 3,967 shares of Premier stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $31.72, for a total value of $125,833.24. Following the completion of the sale, the director now directly owns 11,233 shares of the company’s stock, valued at $356,310.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 17.52% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. State of Alaska Department of Revenue acquired a new stake in shares of Premier in the fourth quarter valued at $124,000. The Manufacturers Life Insurance Company grew its stake in Premier by 7.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,373 shares of the company’s stock worth $157,000 after purchasing an additional 315 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in Premier by 30.9% during the 2nd quarter. PNC Financial Services Group Inc. now owns 4,796 shares of the company’s stock worth $173,000 after purchasing an additional 1,132 shares in the last quarter. American Century Companies Inc. acquired a new position in Premier during the 4th quarter worth $243,000. Finally, Suntrust Banks Inc. acquired a new position in Premier during the 2nd quarter worth $276,000. 42.22% of the stock is owned by institutional investors and hedge funds.
Premier (NASDAQ:PINC) traded up $0.06 during mid-day trading on Monday, reaching $31.82. The company’s stock had a trading volume of 548,175 shares, compared to its average volume of 790,424. The company has a debt-to-equity ratio of -0.01, a quick ratio of 0.71 and a current ratio of 0.83. The firm has a market capitalization of $4,320.00, a PE ratio of -18.94, a price-to-earnings-growth ratio of 1.26 and a beta of 0.50. Premier has a one year low of $27.16 and a one year high of $36.50.
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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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