Premier (NASDAQ:PINC) updated its FY19 earnings guidance on Tuesday. The company provided EPS guidance of $2.60-2.72 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.66. The company issued revenue guidance of $1.721-1.787 billion, compared to the consensus revenue estimate of $1.75 billion.
Several equities research analysts have weighed in on the company. Canaccord Genuity cut Premier from a buy rating to a hold rating and set a $43.00 target price for the company. in a research note on Tuesday, August 14th. They noted that the move was a valuation call. Benchmark restated a buy rating and set a $50.00 target price (up from $40.00) on shares of Premier in a research note on Wednesday. SunTrust Banks cut Premier from a buy rating to a hold rating in a research note on Wednesday. They noted that the move was a valuation call. BidaskClub upgraded Premier from a buy rating to a strong-buy rating in a research note on Wednesday, August 15th. Finally, Leerink Swann assumed coverage on Premier in a research note on Wednesday, June 27th. They set an outperform rating and a $45.00 target price for the company. Eight analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of Buy and an average price target of $39.39.
Shares of NASDAQ:PINC opened at $43.95 on Wednesday. The firm has a market cap of $5.10 billion, a PE ratio of 27.30, a P/E/G ratio of 1.27 and a beta of 0.47. The company has a debt-to-equity ratio of -0.01, a current ratio of 0.77 and a quick ratio of 0.66. Premier has a 52-week low of $27.16 and a 52-week high of $45.31.
Premier (NASDAQ:PINC) last announced its quarterly earnings results on Tuesday, August 21st. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.04. The company had revenue of $433.96 million during the quarter, compared to the consensus estimate of $412.24 million. Premier had a net margin of 23.33% and a negative return on equity of 21.96%. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.50 earnings per share. sell-side analysts anticipate that Premier will post 2.1 EPS for the current year.
In other news, VP Kelli L. Price sold 4,000 shares of the company’s stock in a transaction on Monday, June 11th. The shares were sold at an average price of $35.00, for a total transaction of $140,000.00. Following the completion of the transaction, the vice president now directly owns 18,678 shares in the company, valued at $653,730. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 17.52% of the stock is currently owned by corporate 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.
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