Premier (NASDAQ:PINC) announced its earnings results on Monday, February 5th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.02, Bloomberg Earnings reports. Premier had a negative return on equity of 19.94% and a net margin of 14.14%. The company had revenue of $411.40 million for the quarter, compared to analysts’ expectations of $393.35 million. During the same quarter in the previous year, the firm earned $0.46 earnings per share. Premier’s quarterly revenue was up 14.8% on a year-over-year basis. Premier updated its FY18 guidance to $2.24-2.37 EPS.
Shares of Premier (NASDAQ:PINC) traded up $0.15 during midday trading on Monday, reaching $31.75. The company’s stock had a trading volume of 844,096 shares, compared to its average volume of 779,276. The company has a market cap of $4,287.83, a price-to-earnings ratio of -9.69, a P/E/G ratio of 1.27 and a beta of 0.50. The company has a debt-to-equity ratio of -0.01, a current ratio of 0.83 and a quick ratio of 0.71. Premier has a fifty-two week low of $27.16 and a fifty-two week high of $36.50.
PINC has been the topic of several research analyst reports. Robert W. Baird reissued a “buy” rating and issued a $35.00 price objective on shares of Premier in a research report on Friday, November 10th. SunTrust Banks reaffirmed a “buy” rating and set a $38.00 price target on shares of Premier in a research report on Thursday. Benchmark assumed coverage on Premier in a research report on Thursday. They set a “buy” rating and a $40.00 price target on the stock. William Blair reaffirmed an “outperform” rating on shares of Premier in a research report on Tuesday, February 6th. Finally, Piper Jaffray Companies reaffirmed a “hold” rating on shares of Premier in a research report on Wednesday, February 7th. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $36.86.
In other Premier news, Director Stephen R. D’arcy sold 3,967 shares of the company’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $31.72, for a total value of $125,833.24. Following the transaction, the director now directly owns 11,233 shares in the company, valued at approximately $356,310.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 17.52% of the stock is owned by corporate insiders.
An institutional investor recently raised its position in Premier stock. The Manufacturers Life Insurance Company boosted its holdings in Premier Inc (NASDAQ:PINC) by 7.8% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,373 shares of the company’s stock after acquiring an additional 315 shares during the quarter. The Manufacturers Life Insurance Company ‘s holdings in Premier were worth $157,000 at the end of the most recent reporting period. 39.60% of the stock is currently owned by institutional investors.
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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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