Premier (NASDAQ:PINC) issued an update on its FY 2019 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $2.55-2.67 for the period, compared to the Thomson Reuters consensus earnings per share 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.
Shares of PINC remained flat at $$37.00 during midday trading on Wednesday. The company’s stock had a trading volume of 536,967 shares, compared to its average volume of 529,651. The firm has a market cap of $4.67 billion, a P/E ratio of 52.86, a PEG ratio of 1.33 and a beta of 0.46. Premier has a twelve month low of $31.31 and a twelve month high of $47.22.
Premier (NASDAQ:PINC) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.05. The firm had revenue of $422.90 million during the quarter, compared to the consensus estimate of $432.94 million. Premier had a negative return on equity of 27.23% and a net margin of 21.50%. The company’s quarterly revenue was down .6% on a year-over-year basis. During the same period last year, the company earned $0.67 EPS. Equities analysts predict that Premier will post 2.45 earnings per share for the current fiscal year.
A number of equities analysts recently commented on PINC shares. BidaskClub cut Premier from a hold rating to a sell rating in a report on Saturday, March 30th. Zacks Investment Research upgraded Premier from a sell rating to a hold rating in a report on Friday, February 1st. Citigroup upgraded Premier from a neutral rating to a buy rating and set a $45.00 target price for the company in a report on Thursday, May 2nd. Leerink Swann cut Premier from an outperform rating to a market perform rating and set a $36.00 price objective for the company. in a research note on Wednesday, April 10th. Finally, Svb Leerink cut Premier from an outperform rating to a market perform rating in a research note on Wednesday, April 10th. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Premier currently has an average rating of Hold and a consensus target price of $44.40.
In other news, CFO Craig S. Mckasson sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $37.54, for a total transaction of $1,877,000.00. Following 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 18.30% of the company’s stock.
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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