Zacks: Brokerages Anticipate Premier Inc (PINC) Will Post Quarterly Sales of $422.96 Million

Wall Street analysts expect Premier Inc (NASDAQ:PINC) to report $422.96 million in sales for the current fiscal quarter, Zacks Investment Research reports. Ten analysts have made estimates for Premier’s earnings, with estimates ranging from $415.66 million to $435.96 million. Premier posted sales of $411.40 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 2.8%. The firm is scheduled to report its next quarterly earnings results on Monday, February 4th.

On average, analysts expect that Premier will report full-year sales of $1.73 billion for the current fiscal year, with estimates ranging from $1.69 billion to $1.76 billion. For the next year, analysts expect that the company will report sales of $1.83 billion, with estimates ranging from $1.77 billion to $1.87 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Premier.

Premier (NASDAQ:PINC) last announced its quarterly earnings data on Tuesday, November 6th. The company reported $0.65 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.05. Premier had a negative return on equity of 27.57% and a net margin of 32.31%. The firm had revenue of $401.60 million during the quarter, compared to the consensus estimate of $412.79 million. During the same quarter in the previous year, the company posted $0.44 earnings per share. The business’s revenue was up 2.8% on a year-over-year basis.

Several analysts have weighed in on the company. Zacks Investment Research downgraded Premier from a “buy” rating to a “hold” rating in a research report on Thursday, November 1st. Canaccord Genuity boosted their price objective on Premier from $38.00 to $42.00 and gave the company a “hold” rating in a research report on Wednesday, August 22nd. BidaskClub downgraded Premier from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 12th. Benchmark reiterated a “buy” rating and issued a $50.00 price objective (up previously from $40.00) on shares of Premier in a research report on Wednesday, August 22nd. Finally, Leerink Swann set a $55.00 price objective on Premier and gave the company a “buy” rating in a research report on Wednesday, August 22nd. Nine analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $41.68.

PINC stock traded down $0.13 during midday trading on Friday, hitting $41.37. The company had a trading volume of 1,135,176 shares, compared to its average volume of 678,744. Premier has a 52 week low of $27.16 and a 52 week high of $47.22. The company has a market capitalization of $5.51 billion, a P/E ratio of 59.10, a PEG ratio of 1.41 and a beta of 0.55.

In other news, CFO Craig S. Mckasson sold 6,250 shares of the business’s stock in a transaction that occurred on Friday, August 24th. The stock was sold at an average price of $43.09, for a total transaction of $269,312.50. Following the transaction, the chief financial officer now directly owns 90,184 shares of the company’s stock, valued at $3,886,028.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP David Alfred Hargraves sold 2,210 shares of the company’s stock in a transaction on Tuesday, October 2nd. The stock was sold at an average price of $45.58, for a total value of $100,731.80. Following the completion of the sale, the senior vice president now directly owns 11,108 shares in the company, valued at $506,302.64. The disclosure for this sale can be found here. Insiders have sold 15,656 shares of company stock worth $684,386 over the last three months. Insiders own 18.30% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. Massachusetts Financial Services Co. MA grew its stake in 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 purchasing an additional 893,451 shares during the period. River Road Asset Management LLC grew its stake in 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 purchasing an additional 836,502 shares during the period. Rice Hall James & Associates LLC grew its stake in Premier by 32.3% in the second quarter. Rice Hall James & Associates LLC now owns 1,650,914 shares of the company’s stock worth $60,060,000 after purchasing an additional 403,295 shares during the period. Jennison Associates LLC grew its stake in Premier by 24.5% in the second quarter. Jennison Associates LLC now owns 1,446,231 shares of the company’s stock worth $52,614,000 after purchasing an additional 284,729 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in Premier in the second quarter worth $36,492,000. 42.26% of the stock is currently owned by institutional investors.

Premier Company Profile

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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Earnings History and Estimates for Premier (NASDAQ:PINC)

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