Analysts expect that Premier Inc (NASDAQ:PINC) will report $295.80 million in sales for the current fiscal quarter, Zacks Investment Research reports. Nine analysts have provided estimates for Premier’s earnings. The lowest sales estimate is $290.80 million and the highest is $301.20 million. Premier reported sales of $401.55 million during the same quarter last year, which indicates a negative year over year growth rate of 26.3%. The company is expected to issue its next quarterly earnings report before the market opens on Tuesday, November 5th.
On average, analysts expect that Premier will report full-year sales of $1.25 billion for the current fiscal year, with estimates ranging from $1.24 billion to $1.26 billion. For the next year, analysts anticipate that the company will report sales of $1.30 billion, with estimates ranging from $1.28 billion to $1.31 billion. Zacks’ sales calculations are an average based on a survey of research firms that that provide coverage for Premier.
Premier (NASDAQ:PINC) last issued its quarterly earnings data on Tuesday, August 20th. The company reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.04). The business had revenue of $316.20 million for the quarter, compared to analyst estimates of $426.69 million. Premier had a net margin of 17.30% and a negative return on equity of 29.70%. The firm’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.70 earnings per share.
Shares of NASDAQ PINC traded up $0.72 during mid-day trading on Friday, reaching $33.03. 1,081,783 shares of the company’s stock traded hands, compared to its average volume of 703,594. The stock has a market cap of $3.96 billion, a P/E ratio of 14.54, a PEG ratio of 1.29 and a beta of 0.32. The business has a 50-day simple moving average of $32.71 and a 200 day simple moving average of $36.07. Premier has a 1-year low of $27.37 and a 1-year high of $46.29.
In related news, CFO Craig S. Mckasson sold 2,287 shares of the business’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $37.00, for a total transaction of $84,619.00. Following the transaction, the chief financial officer now directly owns 117,058 shares in the company, valued at $4,331,146. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director William E. Mayer sold 4,000 shares of Premier stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $37.45, for a total transaction of $149,800.00. Following the completion of the sale, the director now directly owns 13,763 shares in the company, valued at approximately $515,424.35. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,315 shares of company stock worth $416,586. 18.30% of the stock is owned by corporate insiders.
Hedge funds have recently made changes to their positions in the business. Meeder Asset Management Inc. bought a new stake in Premier in the third quarter worth about $52,000. Financial Gravity Wealth Inc. raised its position in Premier by 401.7% in the second quarter. Financial Gravity Wealth Inc. now owns 2,067 shares of the company’s stock worth $81,000 after acquiring an additional 1,655 shares during the period. Tower Research Capital LLC TRC bought a new stake in Premier in the second quarter worth about $100,000. Robeco Institutional Asset Management B.V. bought a new stake in Premier in the third quarter worth about $132,000. Finally, Compagnie Lombard Odier SCmA bought a new stake in Premier in the second quarter worth about $203,000. 49.45% of the stock is currently owned by institutional investors and hedge funds.
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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