Zacks: Brokerages Anticipate Premier, Inc. (PINC) Will Announce Quarterly Sales of $389.17 Million

Equities research analysts expect Premier, Inc. (NASDAQ:PINC) to report sales of $389.17 million for the current quarter, according to Zacks. Seven analysts have provided estimates for Premier’s earnings, with the lowest sales estimate coming in at $385.00 million and the highest estimate coming in at $394.17 million. Premier reported sales of $313.27 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 24.2%. The company is scheduled to issue its next quarterly earnings report on Monday, November 6th.

On average, analysts expect that Premier will report full year sales of $389.17 million for the current year, with estimates ranging from $1.60 billion to $1.62 billion. For the next fiscal year, analysts forecast that the business will post sales of $1.74 billion per share, with estimates ranging from $1.73 billion to $1.75 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Premier.

Premier (NASDAQ:PINC) last issued its quarterly earnings data on Monday, August 21st. The company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.02). Premier had a net margin of 0.66% and a negative return on equity of 16.27%. The business had revenue of $403.10 million during the quarter, compared to analyst estimates of $400.45 million. During the same period in the previous year, the business posted $0.36 earnings per share. The firm’s revenue for the quarter was up 33.7% on a year-over-year basis.

PINC has been the subject of a number of analyst reports. BidaskClub downgraded Premier from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Zacks Investment Research raised Premier from a “sell” rating to a “hold” rating in a research note on Tuesday, September 5th. William Blair reissued an “ourperform” rating on shares of Premier in a research note on Tuesday, August 22nd. Piper Jaffray Companies reissued a “hold” rating on shares of Premier in a research note on Tuesday, August 22nd. Finally, Jefferies Group LLC reissued a “buy” rating and set a $40.00 target price on shares of Premier in a research note on Wednesday, August 9th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $39.29.

COPYRIGHT VIOLATION NOTICE: “Zacks: Brokerages Anticipate Premier, Inc. (PINC) Will Announce Quarterly Sales of $389.17 Million” was first posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this piece of content on another domain, it was illegally stolen and republished in violation of U.S. and international trademark and copyright law. The legal version of this piece of content can be viewed at https://ledgergazette.com/2017/10/09/zacks-brokerages-anticipate-premier-inc-pinc-will-announce-quarterly-sales-of-389-17-million.html.

In related news, COO Michael J. Alkire sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $33.26, for a total value of $831,500.00. Following the sale, the chief operating officer now owns 209,164 shares in the company, valued at approximately $6,956,794.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Susan D. Devore sold 40,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $32.74, for a total value of $1,309,600.00. Following the completion of the sale, the chief executive officer now owns 466,427 shares in the company, valued at approximately $15,270,819.98. The disclosure for this sale can be found here. In the last 90 days, insiders sold 78,014 shares of company stock worth $2,575,863. Insiders own 17.14% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Burgundy Asset Management Ltd. grew its holdings in shares of Premier by 2.3% in the 2nd quarter. Burgundy Asset Management Ltd. now owns 316,600 shares of the company’s stock worth $11,398,000 after acquiring an additional 7,020 shares during the period. Public Employees Retirement System of Ohio grew its holdings in shares of Premier by 32.7% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 20,554 shares of the company’s stock worth $740,000 after acquiring an additional 5,070 shares during the period. Verition Fund Management LLC grew its holdings in shares of Premier by 46.4% in the 2nd quarter. Verition Fund Management LLC now owns 15,002 shares of the company’s stock worth $540,000 after acquiring an additional 4,753 shares during the period. Seminole Management Co. Inc. acquired a new stake in shares of Premier in the 2nd quarter worth approximately $432,000. Finally, Sterling Capital Management LLC grew its holdings in shares of Premier by 6.0% in the 2nd quarter. Sterling Capital Management LLC now owns 109,075 shares of the company’s stock worth $3,927,000 after acquiring an additional 6,180 shares during the period. Institutional investors and hedge funds own 37.75% of the company’s stock.

Shares of Premier (NASDAQ:PINC) opened at 34.50 on Monday. Premier has a one year low of $28.27 and a one year high of $36.50. The firm has a 50-day moving average price of $33.03 and a 200 day moving average price of $33.86. The firm has a market capitalization of $1.84 billion, a price-to-earnings ratio of 22.85 and a beta of 0.46.

Premier Company Profile

Premier, Inc is a healthcare improvement company. The Company is uniting an alliance of approximately 3,750 United States hospitals and more than 130,000 other provider 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.

Get a free copy of the Zacks research report on Premier (PINC)<

On average, analysts expect that Premier will report full year sales of $389.17 million for the current year, with estimates ranging from $1.60 billion to $1.62 billion. For the next fiscal year, analysts forecast that the business will post sales of $1.74 billion per share, with estimates ranging from $1.73 billion to $1.75 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Premier.

Premier (NASDAQ:PINC) last issued its quarterly earnings data on Monday, August 21st. The company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.02). Premier had a net margin of 0.66% and a negative return on equity of 16.27%. The business had revenue of $403.10 million during the quarter, compared to analyst estimates of $400.45 million. During the same period in the previous year, the business posted $0.36 earnings per share. The firm’s revenue for the quarter was up 33.7% on a year-over-year basis.

PINC has been the subject of a number of analyst reports. BidaskClub downgraded Premier from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Zacks Investment Research raised Premier from a “sell” rating to a “hold” rating in a research note on Tuesday, September 5th. William Blair reissued an “ourperform” rating on shares of Premier in a research note on Tuesday, August 22nd. Piper Jaffray Companies reissued a “hold” rating on shares of Premier in a research note on Tuesday, August 22nd. Finally, Jefferies Group LLC reissued a “buy” rating and set a $40.00 target price on shares of Premier in a research note on Wednesday, August 9th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $39.29.

COPYRIGHT VIOLATION NOTICE: “Zacks: Brokerages Anticipate Premier, Inc. (PINC) Will Announce Quarterly Sales of $389.17 Million” was first posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this piece of content on another domain, it was illegally stolen and republished in violation of U.S. and international trademark and copyright law. The legal version of this piece of content can be viewed at https://ledgergazette.com/2017/10/09/zacks-brokerages-anticipate-premier-inc-pinc-will-announce-quarterly-sales-of-389-17-million.html.

In related news, COO Michael J. Alkire sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $33.26, for a total value of $831,500.00. Following the sale, the chief operating officer now owns 209,164 shares in the company, valued at approximately $6,956,794.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Susan D. Devore sold 40,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $32.74, for a total value of $1,309,600.00. Following the completion of the sale, the chief executive officer now owns 466,427 shares in the company, valued at approximately $15,270,819.98. The disclosure for this sale can be found here. In the last 90 days, insiders sold 78,014 shares of company stock worth $2,575,863. Insiders own 17.14% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Burgundy Asset Management Ltd. grew its holdings in shares of Premier by 2.3% in the 2nd quarter. Burgundy Asset Management Ltd. now owns 316,600 shares of the company’s stock worth $11,398,000 after acquiring an additional 7,020 shares during the period. Public Employees Retirement System of Ohio grew its holdings in shares of Premier by 32.7% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 20,554 shares of the company’s stock worth $740,000 after acquiring an additional 5,070 shares during the period. Verition Fund Management LLC grew its holdings in shares of Premier by 46.4% in the 2nd quarter. Verition Fund Management LLC now owns 15,002 shares of the company’s stock worth $540,000 after acquiring an additional 4,753 shares during the period. Seminole Management Co. Inc. acquired a new stake in shares of Premier in the 2nd quarter worth approximately $432,000. Finally, Sterling Capital Management LLC grew its holdings in shares of Premier by 6.0% in the 2nd quarter. Sterling Capital Management LLC now owns 109,075 shares of the company’s stock worth $3,927,000 after acquiring an additional 6,180 shares during the period. Institutional investors and hedge funds own 37.75% of the company’s stock.

Shares of Premier (NASDAQ:PINC) opened at 34.50 on Monday. Premier has a one year low of $28.27 and a one year high of $36.50. The firm has a 50-day moving average price of $33.03 and a 200 day moving average price of $33.86. The firm has a market capitalization of $1.84 billion, a price-to-earnings ratio of 22.85 and a beta of 0.46.

Premier Company Profile

Premier, Inc is a healthcare improvement company. The Company is uniting an alliance of approximately 3,750 United States hospitals and more than 130,000 other provider 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.

Get a free copy of the Zacks research report on Premier (PINC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Premier (NASDAQ:PINC)

Receive News & Ratings for Premier Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Premier Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply