Premier (NASDAQ:PINC) Releases FY24 Earnings Guidance

Premier (NASDAQ:PINC) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $2.06 to $2.18 for the period, compared to the consensus estimate of $2.15. The company issued revenue guidance of $1.265 billion to $1.325 billion, compared to the consensus revenue estimate of $1.30 billion.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on PINC shares. SVB Leerink assumed coverage on Premier in a report on Monday, February 26th. They issued a market perform rating and a $22.50 target price for the company. StockNews.com downgraded Premier from a buy rating to a hold rating in a report on Wednesday, February 7th. Finally, Leerink Partnrs reaffirmed a market perform rating on shares of Premier in a report on Monday, February 26th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average target price of $25.15.

Premier Stock Performance

Shares of PINC stock traded down $1.25 during mid-day trading on Tuesday, hitting $19.47. The stock had a trading volume of 2,591,545 shares, compared to its average volume of 1,533,646. Premier has a fifty-two week low of $18.89 and a fifty-two week high of $28.30. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.43 and a quick ratio of 1.32. The company’s 50-day simple moving average is $21.19 and its 200-day simple moving average is $21.22. The firm has a market cap of $2.33 billion, a PE ratio of 14.91, a PEG ratio of 5.22 and a beta of 0.39.

Premier (NASDAQ:PINC) last released its earnings results on Monday, February 5th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.02. Premier had a return on equity of 11.60% and a net margin of 12.71%. The company had revenue of $334.75 million for the quarter, compared to analysts’ expectations of $338.55 million. Sell-side analysts anticipate that Premier will post 1.95 earnings per share for the current year.

Premier Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, June 15th. Shareholders of record on Saturday, June 1st will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.84 annualized dividend and a dividend yield of 4.31%. Premier’s payout ratio is currently 60.43%.

About Premier

Premier, Inc, together with its subsidiaries, operates as a healthcare improvement company in the United States. It operates in two segments, Supply Chain Services and Performance Services. The Supply Chain Services segment offers its members with an 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 workforce solutions.