Premier (NASDAQ:PINC) issued an update on its FY 2019 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $2.55-2.67 for the period, compared to the Thomson Reuters consensus estimate of $2.70. The company issued revenue guidance of $1.655-1.721 billion, compared to the consensus revenue estimate of $1.76 billion.
Shares of NASDAQ PINC opened at $44.99 on Tuesday. The firm has a market capitalization of $5.96 billion, a PE ratio of 64.27, a P/E/G ratio of 1.52 and a beta of 0.55. Premier has a fifty-two week low of $27.16 and a fifty-two week high of $47.22.
Premier (NASDAQ:PINC) last announced its quarterly earnings results on Tuesday, August 21st. The company reported $0.70 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.04. The company had revenue of $433.96 million during the quarter, compared to analysts’ expectations of $412.24 million. Premier had a negative return on equity of 25.18% and a net margin of 47.84%. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.50 earnings per share. As a group, analysts anticipate that Premier will post 2.48 EPS for the current year.
PINC has been the subject of several recent analyst reports. Piper Jaffray Companies boosted their target price on Premier from $32.00 to $40.00 and gave the stock a neutral rating in a research report on Tuesday, August 21st. Raymond James boosted their target price on Premier from $37.00 to $49.00 and gave the stock an in-line rating in a research report on Wednesday, August 22nd. Barclays initiated coverage on Premier in a research report on Tuesday, September 25th. They set an overweight rating for the company. SunTrust Banks cut Premier from a buy rating to a hold rating and set a $38.00 target price for the company. in a research report on Wednesday, August 22nd. They noted that the move was a valuation call. Finally, ValuEngine upgraded Premier from a hold rating to a buy rating in a research report on Wednesday, August 22nd. Nine research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $41.68.
In other Premier news, Director William E. Mayer sold 3,000 shares of Premier stock in a transaction dated Thursday, August 23rd. The stock was sold at an average price of $43.35, for a total transaction of $130,050.00. Following the completion of the sale, the director now owns 14,587 shares of the company’s stock, valued at $632,346.45. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Craig S. Mckasson sold 6,250 shares of Premier stock in a transaction dated Friday, August 24th. The stock was sold at an average price of $43.09, for a total value of $269,312.50. Following the sale, the chief financial officer now directly owns 90,184 shares of the company’s stock, valued at approximately $3,886,028.56. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 15,656 shares of company stock valued at $684,386. Corporate insiders own 18.30% of the company’s stock.
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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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