Premier (NASDAQ:PINC) Releases FY 2020 Earnings Guidance

Premier (NASDAQ:PINC) updated its FY 2020 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $2.76-2.89 for the period, compared to the Thomson Reuters consensus estimate of $2.84. The company issued revenue guidance of $1.231-1.28 billion, compared to the consensus revenue estimate of $1.27 billion.Premier also updated its FY20 guidance to $2.76-2.89 EPS.

A number of research firms have commented on PINC. Canaccord Genuity set a $36.00 price target on shares of Premier and gave the stock a hold rating in a research note on Wednesday. Zacks Investment Research upgraded shares of Premier from a sell rating to a hold rating in a report on Friday, August 16th. Guggenheim began coverage on shares of Premier in a report on Tuesday, June 18th. They issued a neutral rating and a $41.00 price objective for the company. BidaskClub lowered shares of Premier from a buy rating to a hold rating in a report on Tuesday. Finally, Citigroup upgraded shares of Premier from a neutral rating to a buy rating and set a $45.00 price objective for the company in a report on Thursday, May 2nd. Eight equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $41.29.

Shares of PINC opened at $37.78 on Friday. The firm has a market cap of $4.75 billion, a price-to-earnings ratio of 16.64, a PEG ratio of 1.28 and a beta of 0.35. Premier has a fifty-two week low of $31.31 and a fifty-two week high of $47.22. The firm has a 50 day moving average price of $39.17 and a 200-day moving average price of $36.85.

Premier (NASDAQ:PINC) last announced its quarterly earnings data on Tuesday, August 20th. The company reported $0.57 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.61 by ($0.04). The business had revenue of $316.20 million during the quarter, compared to the consensus estimate of $426.69 million. Premier had a negative return on equity of 27.85% and a net margin of 17.30%. The company’s revenue was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.70 earnings per share. Equities research analysts forecast that Premier will post 2.63 EPS for the current year.

In other news, SVP David Alfred Hargraves sold 1,037 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $37.61, for a total value of $39,001.57. Following the completion of the sale, the senior vice president now directly owns 10,024 shares in the company, valued at approximately $377,002.64. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 18.30% of the company’s stock.

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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