Premier, Inc. (NASDAQ:PINC) – Analysts at Oppenheimer Holdings lowered their FY2018 earnings per share (EPS) estimates for Premier in a note issued to investors on Monday. Oppenheimer Holdings analyst M. Naidu now expects that the company will earn $1.87 per share for the year, down from their previous estimate of $1.88. Oppenheimer Holdings also issued estimates for Premier’s Q4 2018 earnings at $0.56 EPS, Q1 2019 earnings at $0.44 EPS, Q4 2019 earnings at $0.60 EPS and FY2019 earnings at $2.05 EPS.
PINC has been the subject of a number of other research reports. Piper Jaffray Companies reissued a “hold” rating on shares of Premier in a research note on Tuesday, August 22nd. KeyCorp restated a “buy” rating and set a $42.00 price target on shares of Premier in a report on Wednesday, October 4th. Zacks Investment Research upgraded Premier from a “sell” rating to a “hold” rating in a report on Tuesday, October 3rd. BidaskClub downgraded Premier from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 23rd. Finally, William Blair restated an “ourperform” rating on shares of Premier in a report on Tuesday, August 22nd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $38.71.
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Premier (NASDAQ PINC) traded down $2.26 during midday trading on Thursday, hitting $27.79. The stock had a trading volume of 3,210,500 shares, compared to its average volume of 481,552. Premier has a 12 month low of $27.15 and a 12 month high of $36.50. The company has a market cap of $4,185.50, a price-to-earnings ratio of 16.79, a PEG ratio of 1.34 and a beta of 0.46.
Premier (NASDAQ:PINC) last released its earnings results on Monday, November 6th. The company reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.05). Premier had a net margin of 17.99% and a negative return on equity of 18.31%. The company had revenue of $390.56 million during the quarter, compared to the consensus estimate of $389.56 million. During the same period last year, the firm posted $0.41 EPS. The company’s revenue was up 24.7% on a year-over-year basis.
Several hedge funds have recently bought and sold shares of PINC. Alps Advisors Inc. grew its stake in shares of Premier by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 15,462 shares of the company’s stock worth $557,000 after buying an additional 40 shares during the last quarter. Advisors Asset Management Inc. grew its stake in shares of Premier by 1.6% in the 2nd quarter. Advisors Asset Management Inc. now owns 4,461 shares of the company’s stock worth $161,000 after buying an additional 72 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Premier by 4.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,664 shares of the company’s stock worth $117,000 after buying an additional 149 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Premier by 7.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,373 shares of the company’s stock worth $157,000 after buying an additional 315 shares during the last quarter. Finally, People s United Financial Inc. grew its stake in shares of Premier by 4.0% in the 2nd quarter. People s United Financial Inc. now owns 9,728 shares of the company’s stock worth $350,000 after buying an additional 372 shares during the last quarter. Hedge funds and other institutional investors own 38.49% of the company’s stock.
In other Premier news, insider Craig S. Mckasson sold 10,750 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $33.55, for a total transaction of $360,662.50. Following the transaction, the insider now owns 88,688 shares in the company, valued at approximately $2,975,482.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Susan D. Devore sold 40,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $32.74, for a total value of $1,309,600.00. Following the transaction, the chief executive officer now owns 466,427 shares in the company, valued at approximately $15,270,819.98. The disclosure for this sale can be found here. Insiders have sold a total of 78,014 shares of company stock worth $2,575,863 in the last quarter. Company insiders own 17.52% of the company’s stock.
Premier announced that its board has authorized a stock repurchase program on Tuesday, October 31st that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.
Premier Company Profile
Premier, Inc is a healthcare improvement company. The Company is uniting an alliance of approximately 3,900 United States hospitals and health systems and approximately 150,000 other providers and organizations to transform healthcare. The Company operates healthcare group purchasing organizations and also provides integrated data and analytics, supply chain solutions, advisory services, performance improvement collaborative and other services.
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