Equities research analysts forecast that Premier Inc (NASDAQ:PINC) will announce $0.66 earnings per share for the current fiscal quarter, Zacks reports. Ten analysts have provided estimates for Premier’s earnings, with the highest EPS estimate coming in at $0.68 and the lowest estimate coming in at $0.64. Premier posted earnings of $0.50 per share in the same quarter last year, which would indicate a positive year over year growth rate of 32%. The firm is scheduled to issue its next earnings results on Monday, August 20th.
According to Zacks, analysts expect that Premier will report full-year earnings of $2.27 per share for the current financial year, with EPS estimates ranging from $2.25 to $2.28. For the next year, analysts anticipate that the company will post earnings of $2.67 per share, with EPS estimates ranging from $2.55 to $2.76. Zacks Investment Research’s EPS averages are an average based on a survey of research analysts that that provide coverage for Premier.
Premier (NASDAQ:PINC) last announced its earnings results on Monday, May 7th. The company reported $0.67 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.01. Premier had a net margin of 23.33% and a negative return on equity of 21.96%. The business had revenue of $425.30 million during the quarter, compared to analysts’ expectations of $408.06 million. During the same quarter in the prior year, the company posted $0.52 earnings per share. The firm’s revenue was up 12.0% on a year-over-year basis.
Several research analysts recently commented on the stock. Leerink Swann assumed coverage on shares of Premier in a report on Wednesday, June 27th. They set an “outperform” rating and a $45.00 target price for the company. ValuEngine upgraded shares of Premier from a “sell” rating to a “hold” rating in a report on Monday, June 11th. Credit Suisse Group reduced their target price on shares of Premier from $42.00 to $38.00 and set an “outperform” rating for the company in a report on Wednesday, May 9th. BidaskClub upgraded shares of Premier from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 16th. Finally, Zacks Investment Research upgraded shares of Premier from a “hold” rating to a “buy” rating and set a $35.00 target price for the company in a report on Friday, May 11th. Seven analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $37.73.
Premier traded up $0.33, hitting $36.71, during trading hours on Wednesday, according to MarketBeat. 653,500 shares of the company’s stock were exchanged, compared to its average volume of 711,958. Premier has a 1-year low of $27.16 and a 1-year high of $37.25. The stock has a market capitalization of $4.84 billion, a price-to-earnings ratio of 22.64, a PEG ratio of 1.40 and a beta of 0.46. The company has a current ratio of 0.77, a quick ratio of 0.66 and a debt-to-equity ratio of -0.01.
In other Premier news, VP Kelli L. Price sold 4,000 shares of the company’s stock in a transaction on Monday, June 11th. The shares were sold at an average price of $35.00, for a total transaction of $140,000.00. Following the sale, the vice president now directly owns 18,678 shares of the company’s stock, valued at $653,730. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Craig S. Mckasson sold 6,250 shares of the company’s stock in a transaction on Tuesday, May 15th. The stock was sold at an average price of $31.87, for a total transaction of $199,187.50. Following the sale, the insider now directly owns 73,841 shares in the company, valued at $2,353,312.67. The disclosure for this sale can be found here. Corporate insiders own 17.52% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of PINC. Jefferies Group LLC raised its position in shares of Premier by 101.4% in the fourth quarter. Jefferies Group LLC now owns 22,860 shares of the company’s stock valued at $667,000 after purchasing an additional 11,509 shares during the period. OppenheimerFunds Inc. bought a new position in shares of Premier in the fourth quarter valued at about $13,520,000. UBS Asset Management Americas Inc. raised its position in shares of Premier by 10.3% in the fourth quarter. UBS Asset Management Americas Inc. now owns 40,228 shares of the company’s stock valued at $1,174,000 after purchasing an additional 3,756 shares during the period. Burgundy Asset Management Ltd. raised its position in shares of Premier by 18.1% in the fourth quarter. Burgundy Asset Management Ltd. now owns 388,565 shares of the company’s stock valued at $11,342,000 after purchasing an additional 59,581 shares during the period. Finally, Segall Bryant & Hamill LLC raised its position in shares of Premier by 137.7% in the fourth quarter. Segall Bryant & Hamill LLC now owns 247,279 shares of the company’s stock valued at $7,218,000 after purchasing an additional 143,236 shares during the period. 42.77% of the stock is currently owned by hedge funds and other institutional investors.
Premier, Inc, together with its subsidiaries, operates as a healthcare improvement company in the United States. The company operates through two segments, Supply Chain Services and Performance Services. The Supply Chain Services segment offers its members with access to a range of products and services, including medical and surgical products, pharmaceuticals, laboratory supplies, capital equipment, information technology, facilities and construction, and food and nutritional products, as well as purchased services, such as clinical engineering and document shredding services and software-as-a-service informatics products.
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