Premier Inc (NASDAQ:PINC) – Equities researchers at SunTrust Banks boosted their FY2019 EPS estimates for shares of Premier in a note issued to investors on Wednesday, May 8th. SunTrust Banks analyst S. Draper now expects that the company will post earnings of $2.45 per share for the year, up from their previous forecast of $2.42. SunTrust Banks also issued estimates for Premier’s Q4 2019 earnings at $0.60 EPS and FY2020 earnings at $2.65 EPS.
Several other analysts also recently commented on PINC. BidaskClub upgraded shares of Premier from a “hold” rating to a “buy” rating in a report on Thursday, May 9th. Zacks Investment Research upgraded shares of Premier from a “sell” rating to a “hold” rating in a report on Tuesday. Svb Leerink downgraded shares of Premier from an “outperform” rating to a “market perform” rating in a report on Wednesday, April 10th. Finally, Citigroup upgraded shares of Premier from a “neutral” rating to a “buy” rating and set a $45.00 target price on the stock in a report on Thursday, May 2nd. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $44.40.
Premier (NASDAQ:PINC) last announced its earnings results on Tuesday, May 7th. The company reported $0.66 EPS for the quarter, topping the consensus estimate of $0.61 by $0.05. The firm had revenue of $422.90 million for the quarter, compared to the consensus estimate of $432.94 million. Premier had a net margin of 21.50% and a negative return on equity of 27.23%. The business’s quarterly revenue was down .6% on a year-over-year basis. During the same period last year, the company posted $0.67 EPS.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Cerity Partners LLC increased its holdings in Premier by 16.2% during the first quarter. Cerity Partners LLC now owns 6,795 shares of the company’s stock worth $234,000 after buying an additional 945 shares during the last quarter. Geode Capital Management LLC increased its holdings in Premier by 7.4% during the first quarter. Geode Capital Management LLC now owns 571,945 shares of the company’s stock worth $19,726,000 after buying an additional 39,600 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Premier by 6.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 283,049 shares of the company’s stock worth $9,763,000 after buying an additional 17,928 shares during the last quarter. Renaissance Technologies LLC increased its holdings in Premier by 22.7% during the first quarter. Renaissance Technologies LLC now owns 2,620,109 shares of the company’s stock worth $90,368,000 after buying an additional 485,000 shares during the last quarter. Finally, Quantinno Capital Management LP acquired a new position in Premier during the first quarter worth $832,000. Institutional investors own 48.34% of the company’s stock.
In other news, insider Craig S. Mckasson sold 50,000 shares of Premier stock in a transaction that occurred on Friday, February 15th. The shares were sold at an average price of $37.55, for a total value of $1,877,500.00. Following the sale, the insider now directly owns 135,709 shares in the company, valued at $5,095,872.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 18.30% of the stock is owned by company insiders.
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.
Recommended Story: What is Cost of Capital?
Receive News & Ratings for Premier Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Premier and related companies with MarketBeat.com's FREE daily email newsletter.