$417.96 Million in Sales Expected for Premier Inc (PINC) This Quarter

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Equities analysts forecast that Premier Inc (NASDAQ:PINC) will announce sales of $417.96 million for the current quarter, according to Zacks Investment Research. Ten analysts have made estimates for Premier’s earnings, with estimates ranging from $412.14 million to $435.96 million. Premier posted sales of $411.40 million in the same quarter last year, which would indicate a positive year over year growth rate of 1.6%. The company is expected to report its next earnings results on Monday, February 4th.

On average, analysts expect that Premier will report full year sales of $1.70 billion for the current financial year, with estimates ranging from $1.68 billion to $1.75 billion. For the next year, analysts expect that the firm will post sales of $1.80 billion, with estimates ranging from $1.74 billion to $1.86 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow Premier.

Premier (NASDAQ:PINC) last announced its quarterly earnings results on Tuesday, November 6th. The company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.05. Premier had a net margin of 32.31% and a negative return on equity of 23.61%. The firm had revenue of $401.60 million during the quarter, compared to analysts’ expectations of $412.79 million. During the same quarter in the prior year, the company earned $0.44 EPS. The company’s revenue was up 2.8% compared to the same quarter last year.

PINC has been the subject of several research reports. Barclays initiated coverage on shares of Premier in a research report on Tuesday, September 25th. They issued an “overweight” rating for the company. Zacks Investment Research cut shares of Premier from a “hold” rating to a “sell” rating in a research report on Tuesday, January 1st. Seven research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $43.21.

Shares of PINC opened at $39.18 on Friday. Premier has a fifty-two week low of $28.81 and a fifty-two week high of $47.22. The company has a market capitalization of $5.17 billion, a PE ratio of 55.97, a price-to-earnings-growth ratio of 1.35 and a beta of 0.49.

In other Premier news, General Counsel David L. Klatsky sold 12,048 shares of the firm’s stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $36.81, for a total value of $443,486.88. Following the completion of the transaction, the general counsel now owns 18,132 shares of the company’s stock, valued at $667,438.92. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Leigh Anderson sold 2,892 shares of the firm’s stock in a transaction on Wednesday, January 2nd. The stock was sold at an average price of $36.85, for a total transaction of $106,570.20. Following the completion of the transaction, the insider now directly owns 16,744 shares of the company’s stock, valued at approximately $617,016.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 71,481 shares of company stock valued at $2,684,113. Corporate insiders own 18.30% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the business. CENTRAL TRUST Co raised its holdings in shares of Premier by 15.4% in the fourth quarter. CENTRAL TRUST Co now owns 3,775 shares of the company’s stock worth $141,000 after buying an additional 505 shares during the last quarter. Csenge Advisory Group purchased a new position in shares of Premier in the third quarter worth $25,000. Legal & General Group Plc raised its holdings in shares of Premier by 3.9% in the third quarter. Legal & General Group Plc now owns 23,488 shares of the company’s stock worth $1,075,000 after buying an additional 883 shares during the last quarter. Vanguard Group Inc increased its stake in shares of Premier by 3.9% in the third quarter. Vanguard Group Inc now owns 5,067,095 shares of the company’s stock worth $231,972,000 after acquiring an additional 190,635 shares during the period. Finally, HM Payson & Co. acquired a new stake in shares of Premier in the third quarter worth $1,427,000. 41.05% of the stock is owned by institutional investors and hedge funds.

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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