Premier (PINC) Updates FY19 Earnings Guidance

Premier (NASDAQ:PINC) issued an update on its FY19 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $2.60-2.72 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.70. The company issued revenue guidance of $1.72-1.79 billion, compared to the consensus revenue estimate of $1.76 billion.Premier also updated its FY 2019 guidance to $2.55-2.67 EPS.

NASDAQ:PINC traded down $0.43 during midday trading on Thursday, hitting $41.50. The company had a trading volume of 791,846 shares, compared to its average volume of 676,641. Premier has a 52-week low of $27.16 and a 52-week high of $47.22. The firm has a market capitalization of $5.51 billion, a PE ratio of 59.29, a price-to-earnings-growth ratio of 1.41 and a beta of 0.55.

Premier (NASDAQ:PINC) last announced its earnings results on Tuesday, November 6th. The company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.05. Premier had a net margin of 32.31% and a negative return on equity of 27.57%. The company had revenue of $401.60 million during the quarter, compared to analyst estimates of $412.79 million. During the same period in the previous year, the business earned $0.44 earnings per share. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. Equities analysts predict that Premier will post 2.48 earnings per share for the current fiscal year.

Several research firms have issued reports on PINC. Zacks Investment Research lowered shares of Premier from a hold rating to a sell rating in a research report on Wednesday, July 11th. BidaskClub lowered shares of Premier from a strong-buy rating to a buy rating in a research report on Thursday, July 12th. Canaccord Genuity lowered shares of Premier from a buy rating to a hold rating and set a $43.00 price target for the company. in a research report on Tuesday, August 14th. They noted that the move was a valuation call. Piper Jaffray Companies upped their price target on shares of Premier from $32.00 to $40.00 and gave the company a neutral rating in a research report on Tuesday, August 21st. Finally, Oppenheimer upped their price target on shares of Premier to $48.00 and gave the company an outperform rating in a research report on Tuesday, August 21st. Nine investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of Buy and an average price target of $41.68.

In other news, Director William E. Mayer sold 3,000 shares of the company’s stock in a transaction dated Thursday, August 23rd. The shares were sold at an average price of $43.35, for a total transaction of $130,050.00. Following the completion of the transaction, the director now directly owns 14,587 shares of the company’s stock, valued at $632,346.45. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Craig S. Mckasson sold 6,250 shares of the company’s stock in a transaction dated Friday, August 24th. The shares were sold at an average price of $43.09, for a total transaction of $269,312.50. Following the transaction, the chief financial officer now directly owns 90,184 shares of the company’s stock, valued at $3,886,028.56. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,656 shares of company stock valued at $684,386. Company insiders own 18.30% of the company’s stock.

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About Premier

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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