Zacks: Brokerages Expect Premier, Inc. (PINC) Will Post Quarterly Sales of $389.77 Million

Wall Street brokerages predict that Premier, Inc. (NASDAQ:PINC) will report sales of $389.77 million for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have provided estimates for Premier’s earnings, with the lowest sales estimate coming in at $385.00 million and the highest estimate coming in at $395.10 million. Premier reported sales of $313.27 million in the same quarter last year, which indicates a positive year over year growth rate of 24.4%. The company is scheduled to report its next quarterly earnings results on Monday, November 6th.

On average, analysts expect that Premier will report full-year sales of $389.77 million for the current fiscal year, with estimates ranging from $1.60 billion to $1.62 billion. For the next financial year, analysts expect that the business will report sales of $1.74 billion per share, with estimates ranging from $1.73 billion to $1.75 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Premier.

Premier (NASDAQ:PINC) last released its earnings results on Monday, August 21st. The company reported $0.50 EPS for the quarter, missing the Zacks’ 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. 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 in the previous year, the firm earned $0.36 earnings per share.

Several analysts recently issued reports on PINC shares. Zacks Investment Research cut Premier from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Piper Jaffray Companies reiterated a “hold” rating on shares of Premier in a research report on Tuesday, August 22nd. KeyCorp reiterated a “buy” rating and set a $42.00 target price on shares of Premier in a research report on Wednesday, October 4th. BidaskClub cut Premier from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 23rd. Finally, William Blair reiterated an “ourperform” rating on shares of Premier in a research report on Tuesday, August 22nd. Two research analysts have rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the stock. Premier currently has a consensus rating of “Hold” and a consensus price target of $39.29.

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In other Premier news, CEO Susan D. Devore sold 40,000 shares of the firm’s 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 owns 466,427 shares in the company, valued at approximately $15,270,819.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Leigh Anderson sold 2,264 shares of the firm’s stock in a transaction that occurred 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 owns 14,654 shares of the company’s stock, valued at approximately $479,625.42. The disclosure for this sale can be found here. Insiders have sold a total of 78,014 shares of company stock valued at $2,575,863 in the last 90 days. 17.14% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PINC. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Premier by 13.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,185 shares of the company’s stock valued at $115,000 after buying an additional 384 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in Premier by 4.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,664 shares of the company’s stock valued at $117,000 after buying an additional 149 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in Premier by 7.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,373 shares of the company’s stock valued at $157,000 after buying an additional 315 shares in the last quarter. Advisors Asset Management Inc. grew its holdings in Premier by 1.6% during the 2nd quarter. Advisors Asset Management Inc. now owns 4,461 shares of the company’s stock valued at $161,000 after buying an additional 72 shares in the last quarter. Finally, Pacer Advisors Inc. grew its holdings in Premier by 13.5% during the 1st quarter. Pacer Advisors Inc. now owns 6,652 shares of the company’s stock valued at $212,000 after buying an additional 791 shares in the last quarter. Institutional investors and hedge funds own 37.75% of the company’s stock.

Premier (NASDAQ:PINC) traded up 0.88% during midday trading on Monday, hitting $34.38. The stock had a trading volume of 436,224 shares. Premier has a 52 week low of $28.27 and a 52 week high of $36.50. The firm has a 50 day moving average of $33.14 and a 200 day moving average of $33.97. The firm has a market cap of $1.83 billion, a price-to-earnings ratio of 22.77 and a beta of 0.46.

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.

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Earnings History and Estimates for Premier (NASDAQ:PINC)

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