Zacks: Analysts Anticipate Premier Inc (PINC) Will Announce Earnings of $0.61 Per Share

Analysts expect Premier Inc (NASDAQ:PINC) to report $0.61 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Ten analysts have provided estimates for Premier’s earnings, with estimates ranging from $0.57 to $0.64. Premier posted earnings per share of $0.44 in the same quarter last year, which indicates a positive year-over-year growth rate of 38.6%. The company is scheduled to report its next quarterly earnings report on Monday, November 5th.

According to Zacks, analysts expect that Premier will report full year earnings of $2.69 per share for the current financial year, with EPS estimates ranging from $2.65 to $2.77. For the next fiscal year, analysts forecast that the business will post earnings of $2.90 per share, with EPS estimates ranging from $2.80 to $3.00. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that that provide coverage for Premier.

Premier (NASDAQ:PINC) last announced its quarterly earnings results on Tuesday, August 21st. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.04. The firm had revenue of $433.96 million for the quarter, compared to the consensus estimate of $412.24 million. Premier had a negative return on equity of 25.18% and a net margin of 47.84%. The company’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.50 earnings per share.

PINC has been the topic of a number of recent research reports. Piper Jaffray Companies increased their target price on Premier from $32.00 to $40.00 and gave the company a “neutral” rating in a report on Tuesday, August 21st. Raymond James increased their target price on Premier from $37.00 to $49.00 and gave the company an “in-line” rating in a report on Wednesday, August 22nd. SunTrust Banks downgraded Premier from a “buy” rating to a “hold” rating and set a $38.00 target price on the stock. in a report on Wednesday, August 22nd. They noted that the move was a valuation call. ValuEngine raised Premier from a “hold” rating to a “buy” rating in a report on Wednesday, August 22nd. Finally, Zacks Investment Research downgraded Premier from a “hold” rating to a “sell” rating in a report on Wednesday, July 11th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Premier presently has a consensus rating of “Buy” and an average price target of $40.54.

In other news, SVP David Alfred Hargraves sold 2,210 shares of the firm’s stock in a transaction dated Tuesday, October 2nd. The stock was sold at an average price of $45.58, for a total value of $100,731.80. Following the transaction, the senior vice president now owns 11,108 shares of the company’s stock, valued at $506,302.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Leigh Anderson sold 2,273 shares of the firm’s stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $44.48, for a total value of $101,103.04. Following the completion of the transaction, the insider now directly owns 16,252 shares in the company, valued at approximately $722,888.96. The disclosure for this sale can be found here. In the last three months, insiders sold 15,656 shares of company stock worth $684,386. 17.52% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of PINC. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in shares of Premier in the second quarter worth about $36,492,000. Summit Trail Advisors LLC raised its stake in shares of Premier by 4,678.6% in the first quarter. Summit Trail Advisors LLC now owns 1,019,280 shares of the company’s stock worth $1,019,000 after buying an additional 997,950 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of Premier by 46.9% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,797,781 shares of the company’s stock worth $101,783,000 after buying an additional 893,451 shares during the period. River Road Asset Management LLC raised its stake in shares of Premier by 63.2% in the second quarter. River Road Asset Management LLC now owns 2,160,966 shares of the company’s stock worth $78,616,000 after buying an additional 836,502 shares during the period. Finally, Laurion Capital Management LP bought a new position in shares of Premier in the second quarter worth about $20,373,000. 42.41% of the stock is currently owned by hedge funds and other institutional investors.

PINC stock opened at $46.55 on Tuesday. Premier has a fifty-two week low of $27.16 and a fifty-two week high of $46.59. The stock has a market capitalization of $6.08 billion, a price-to-earnings ratio of 66.50, a PEG ratio of 1.56 and a beta of 0.54.

About Premier

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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