Premier (PINC) Issues FY 2019 Earnings Guidance

Premier (NASDAQ:PINC) updated its FY 2019 earnings guidance on Tuesday. The company provided EPS guidance of $2.55-2.67 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.61. The company issued revenue guidance of $1.655-1.721 billion.Premier also updated its FY19 guidance to $2.55-2.67 EPS.

A number of equities research analysts recently commented on PINC shares. Zacks Investment Research cut shares of Premier from a hold rating to a sell rating in a research note on Friday, April 12th. Leerink Swann lowered shares of Premier from an outperform rating to a market perform rating and set a $36.00 price objective on the stock. in a research note on Wednesday, April 10th. BidaskClub raised shares of Premier from a hold rating to a buy rating in a research report on Thursday, May 9th. Citigroup raised shares of Premier from a neutral rating to a buy rating and set a $45.00 price target for the company in a research report on Thursday, May 2nd. Finally, ValuEngine downgraded shares of Premier from a buy rating to a hold rating in a research report on Thursday, February 7th. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $44.40.

Premier stock traded up $0.03 during midday trading on Thursday, hitting $37.03. The company’s stock had a trading volume of 535,700 shares, compared to its average volume of 752,918. The stock has a market cap of $4.68 billion, a PE ratio of 52.90, a price-to-earnings-growth ratio of 1.33 and a beta of 0.46. Premier has a 12 month low of $31.31 and a 12 month high of $47.22.

Premier (NASDAQ:PINC) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $0.66 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.05. Premier had a negative return on equity of 27.23% and a net margin of 21.50%. The firm had revenue of $422.90 million for the quarter, compared to analysts’ expectations of $432.94 million. During the same quarter last year, the business posted $0.67 EPS. Premier’s revenue was down .6% on a year-over-year basis. Equities research analysts anticipate that Premier will post 2.45 EPS for the current fiscal year.

In related news, CFO Craig S. Mckasson sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $37.54, for a total value of $1,877,000.00. Following the completion of the sale, the chief financial officer now owns 135,709 shares of the company’s stock, valued at approximately $5,094,515.86. The sale was disclosed in a document filed with the SEC, which is available at this link. 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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Earnings History and Estimates for Premier (NASDAQ:PINC)

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