Premier Inc (PINC) Expected to Post Quarterly Sales of $411.81 Million

Analysts expect Premier Inc (NASDAQ:PINC) to announce sales of $411.81 million for the current fiscal quarter, Zacks Investment Research reports. Ten analysts have provided estimates for Premier’s earnings. The highest sales estimate is $416.10 million and the lowest is $406.60 million. Premier posted sales of $390.56 million during the same quarter last year, which would indicate a positive year over year growth rate of 5.4%. The firm is scheduled to issue its next earnings results before the market opens on Tuesday, November 6th.

On average, analysts expect that Premier will report full year sales of $1.76 billion for the current financial year, with estimates ranging from $1.75 billion to $1.77 billion. For the next year, analysts expect that the company will report sales of $1.87 billion, with estimates ranging from $1.84 billion to $1.90 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Premier.

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

A number of equities research analysts have commented on the stock. Zacks Investment Research downgraded shares of Premier from a “buy” rating to a “hold” rating in a research report on Thursday. Piper Jaffray Companies increased their price objective on shares of Premier from $32.00 to $40.00 and gave the company a “neutral” rating in a research report on Tuesday, August 21st. Benchmark reissued a “buy” rating and issued a $50.00 price objective (up from $40.00) on shares of Premier in a research report on Wednesday, August 22nd. ValuEngine raised shares of Premier from a “hold” rating to a “buy” rating in a research report on Wednesday, August 22nd. Finally, Oppenheimer increased their price objective on shares of Premier to $48.00 and gave the company an “outperform” rating in a research report on Tuesday, August 21st. Nine equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $41.68.

Shares of NASDAQ:PINC opened at $44.86 on Friday. Premier has a 52 week low of $27.16 and a 52 week high of $47.22. The company has a market capitalization of $5.96 billion, a price-to-earnings ratio of 64.09, a PEG ratio of 1.52 and a beta of 0.55.

In related news, SVP David Alfred Hargraves sold 2,210 shares of the stock in a transaction on Tuesday, October 2nd. The shares were sold at an average price of $45.58, for a total value of $100,731.80. Following the transaction, the senior vice president now directly owns 11,108 shares of the company’s stock, valued at approximately $506,302.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Leigh Anderson sold 1,923 shares of the stock in a transaction on Monday, September 17th. The shares were sold at an average price of $43.26, for a total transaction of $83,188.98. Following the completion of the transaction, the insider now directly owns 20,076 shares in the company, valued at $868,487.76. The disclosure for this sale can be found here. Insiders sold a total of 15,656 shares of company stock worth $684,386 over the last ninety days. Insiders own 18.30% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Chicago Capital LLC boosted its stake in Premier by 13.6% during the 3rd quarter. Chicago Capital LLC now owns 300,976 shares of the company’s stock worth $13,779,000 after purchasing an additional 35,995 shares during the period. CIBC Asset Management Inc acquired a new stake in Premier during the 3rd quarter worth $239,000. Wells Fargo & Company MN boosted its stake in Premier by 25.6% during the 3rd quarter. Wells Fargo & Company MN now owns 267,705 shares of the company’s stock worth $12,257,000 after purchasing an additional 54,487 shares during the period. Mission Wealth Management LP acquired a new stake in Premier during the 3rd quarter worth $230,000. Finally, Engineers Gate Manager LP acquired a new stake in Premier during the 3rd quarter worth $403,000. 42.03% of the stock is currently owned by hedge funds and other 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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