$335.31 Million in Sales Expected for Premier, Inc. (NASDAQ:PINC) This Quarter

Brokerages expect Premier, Inc. (NASDAQ:PINCGet Rating) to announce $335.31 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for Premier’s earnings. The lowest sales estimate is $330.20 million and the highest is $339.08 million. Premier reported sales of $481.52 million in the same quarter last year, which indicates a negative year-over-year growth rate of 30.4%. The business is scheduled to issue its next earnings results on Monday, January 1st.

On average, analysts expect that Premier will report full year sales of $1.43 billion for the current fiscal year, with estimates ranging from $1.42 billion to $1.43 billion. For the next fiscal year, analysts expect that the company will report sales of $1.43 billion, with estimates ranging from $1.41 billion to $1.44 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Premier.

Premier (NASDAQ:PINCGet Rating) last posted its quarterly earnings data on Tuesday, May 3rd. The company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.05. The business had revenue of $347.84 million during the quarter, compared to the consensus estimate of $340.10 million. Premier had a return on equity of 12.13% and a net margin of 18.14%. The firm’s quarterly revenue was down 26.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.55 earnings per share.

PINC has been the subject of several analyst reports. SVB Leerink restated an “outperform” rating on shares of Premier in a report on Tuesday, May 3rd. StockNews.com downgraded Premier from a “strong-buy” rating to a “buy” rating in a report on Monday, May 30th. Piper Sandler upgraded Premier from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $39.00 to $45.00 in a report on Wednesday, May 4th. Guggenheim started coverage on Premier in a report on Wednesday, April 13th. They issued a “neutral” rating for the company. Finally, Credit Suisse Group started coverage on Premier in a report on Friday, April 1st. They issued an “underperform” rating and a $35.00 price objective for the company. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $42.57.

Several hedge funds have recently bought and sold shares of PINC. Allspring Global Investments Holdings LLC purchased a new position in shares of Premier during the 4th quarter valued at about $93,408,000. Norges Bank purchased a new position in shares of Premier during the 4th quarter valued at about $47,599,000. Dimensional Fund Advisors LP lifted its holdings in Premier by 26.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,704,713 shares of the company’s stock worth $104,837,000 after purchasing an additional 566,617 shares in the last quarter. Millennium Management LLC lifted its holdings in Premier by 890.7% in the 3rd quarter. Millennium Management LLC now owns 567,509 shares of the company’s stock worth $21,997,000 after purchasing an additional 510,228 shares in the last quarter. Finally, Bank of Montreal Can lifted its holdings in Premier by 4,808.6% in the 4th quarter. Bank of Montreal Can now owns 452,034 shares of the company’s stock worth $18,737,000 after purchasing an additional 442,825 shares in the last quarter. 67.78% of the stock is currently owned by hedge funds and other institutional investors.

PINC opened at $37.11 on Monday. The stock has a fifty day simple moving average of $36.74 and a two-hundred day simple moving average of $37.51. The company has a current ratio of 0.88, a quick ratio of 0.72 and a debt-to-equity ratio of 0.10. The company has a market cap of $4.38 billion, a price-to-earnings ratio of 16.06, a price-to-earnings-growth ratio of 1.69 and a beta of 0.28. Premier has a 12-month low of $32.57 and a 12-month high of $42.15.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 15th. Stockholders of record on Wednesday, June 1st will be given a dividend of $0.20 per share. The ex-dividend date is Tuesday, May 31st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.16%. Premier’s payout ratio is currently 34.63%.

Premier Company Profile (Get Rating)

Premier, Inc, together with its subsidiaries, operates as a healthcare improvement company in the United States. It operates in two segments, Supply Chain Services and Performance Services. The Supply Chain Services segment offers its members with an 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.

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Earnings History and Estimates for Premier (NASDAQ:PINC)

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