Equities analysts expect Premier Inc (NASDAQ:PINC) to post sales of $406.69 million for the current fiscal quarter, according to Zacks Investment Research. Nine analysts have issued estimates for Premier’s earnings. The lowest sales estimate is $401.20 million and the highest is $415.00 million. Premier posted sales of $379.80 million during the same quarter last year, which suggests a positive year over year growth rate of 7.1%. The firm is expected to report its next earnings results on Monday, May 14th.
According to Zacks, analysts expect that Premier will report full-year sales of $406.69 million for the current year, with estimates ranging from $1.61 billion to $1.64 billion. For the next fiscal year, analysts forecast that the firm 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 sell-side research analysts that follow Premier.
Premier (NASDAQ:PINC) last issued its quarterly earnings results on Monday, February 5th. The company reported $0.50 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.02. The business had revenue of $411.40 million for the quarter, compared to analysts’ expectations of $393.35 million. Premier had a net margin of 14.14% and a negative return on equity of 19.94%. The company’s revenue was up 14.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.46 EPS.
Several research analysts have recently weighed in on PINC shares. Zacks Investment Research upgraded shares of Premier from a “hold” rating to a “buy” rating and set a $33.00 price target on the stock in a research note on Wednesday, January 10th. SunTrust Banks dropped their price target on shares of Premier to $36.00 and set a “buy” rating on the stock in a research note on Friday, November 17th. Robert W. Baird reiterated a “buy” rating and set a $35.00 price target on shares of Premier in a research note on Friday, November 10th. Oppenheimer reiterated a “buy” rating and set a $40.00 price target on shares of Premier in a research note on Thursday, December 7th. Finally, Benchmark started coverage on shares of Premier in a research note on Thursday, February 8th. They set a “buy” rating and a $40.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $36.71.
Shares of Premier (NASDAQ:PINC) traded up $0.24 during trading on Monday, hitting $31.44. 702,200 shares of the stock traded hands, compared to its average volume of 780,310. The stock has a market cap of $4,233.56, a PE ratio of -9.64, a PEG ratio of 1.23 and a beta of 0.50. Premier has a 1-year low of $27.16 and a 1-year high of $36.50. The company has a quick ratio of 0.71, a current ratio of 0.83 and a debt-to-equity ratio of -0.01.
In other news, Director Stephen R. D’arcy sold 3,967 shares of the firm’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $31.72, for a total transaction of $125,833.24. Following the sale, the director now directly owns 11,233 shares in the company, valued at approximately $356,310.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 17.52% of the stock is owned by company insiders.
Several hedge funds have recently made changes to their positions in the company. BB&T Securities LLC raised its position in shares of Premier by 9.1% during the 4th quarter. BB&T Securities LLC now owns 25,606 shares of the company’s stock valued at $747,000 after purchasing an additional 2,130 shares during the period. Verition Fund Management LLC bought a new stake in shares of Premier during the 4th quarter valued at $534,000. Raymond James & Associates raised its position in shares of Premier by 12.5% during the 4th quarter. Raymond James & Associates now owns 281,072 shares of the company’s stock valued at $8,204,000 after purchasing an additional 31,256 shares during the period. HBK Investments L P raised its position in shares of Premier by 169.1% during the 4th quarter. HBK Investments L P now owns 26,100 shares of the company’s stock valued at $762,000 after purchasing an additional 16,400 shares during the period. Finally, California State Teachers Retirement System increased its holdings in Premier by 10.8% in the 4th quarter. California State Teachers Retirement System now owns 93,525 shares of the company’s stock valued at $2,730,000 after acquiring an additional 9,097 shares during the last quarter. Hedge funds and other institutional investors own 39.60% of the company’s stock.
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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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