Premier (NASDAQ:PINC) issued an update on its FY20 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $2.76-2.89 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.84. The company issued revenue guidance of $1.231-1.280 billion, compared to the consensus revenue estimate of $1.27 billion.Premier also updated its FY 2020 guidance to $2.76-2.89 EPS.
A number of equities analysts recently issued reports on the company. BidaskClub lowered Premier from a buy rating to a hold rating in a report on Tuesday. Credit Suisse Group reaffirmed a neutral rating and set a $42.00 price target (down from $43.00) on shares of Premier in a research note on Tuesday, August 13th. Zacks Investment Research raised Premier from a sell rating to a hold rating in a research note on Friday, August 16th. Canaccord Genuity set a $36.00 price target on Premier and gave the company a hold rating in a research note on Wednesday. Finally, Citigroup upgraded Premier from a neutral rating to a buy rating and set a $45.00 price objective for the company in a research report on Thursday, May 2nd. Eight equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Premier currently has a consensus rating of Hold and a consensus price target of $41.29.
Shares of NASDAQ:PINC opened at $37.78 on Friday. Premier has a 1 year low of $31.31 and a 1 year high of $47.22. The business has a fifty day simple moving average of $39.17 and a 200 day simple moving average of $36.85. The firm has a market cap of $4.75 billion, a price-to-earnings ratio of 16.64, a P/E/G ratio of 1.28 and a beta of 0.35.
Premier (NASDAQ:PINC) last posted its earnings results on Tuesday, August 20th. The company reported $0.57 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by ($0.04). The business had revenue of $316.20 million for the quarter, compared to analyst estimates of $426.69 million. Premier had a negative return on equity of 27.85% and a net margin of 17.30%. The company’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.70 earnings per share. On average, sell-side analysts anticipate that Premier will post 2.63 earnings per share for the current fiscal year.
In other news, SVP David Alfred Hargraves sold 1,037 shares of the firm’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $37.61, for a total value of $39,001.57. Following the sale, the senior vice president now directly owns 10,024 shares of the company’s stock, valued at $377,002.64. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 18.30% of the company’s stock.
Premier Company Profile
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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