Equities research analysts expect that Premier, Inc. (NASDAQ:PINC) will post sales of $451.68 million for the current quarter, Zacks reports. Seven analysts have provided estimates for Premier's earnings, with the highest sales estimate coming in at $458.50 million and the lowest estimate coming in at $444.20 million. Premier reported sales of $342.75 million during the same quarter last year, which would suggest a positive year over year growth rate of 31.8%. The firm is expected to report its next quarterly earnings report before the market opens on Tuesday, August 17th.
On average, analysts expect that Premier will report full year sales of $1.69 billion for the current year, with estimates ranging from $1.68 billion to $1.70 billion. For the next fiscal year, analysts expect that the company will report sales of $1.45 billion, with estimates ranging from $1.37 billion to $1.54 billion. Zacks Investment Research's sales averages are an average based on a survey of sell-side analysts that that provide coverage for Premier.
Premier (NASDAQ:PINC) last posted its quarterly earnings data on Tuesday, May 4th. The company reported $0.64 earnings per share (EPS) for the quarter, beating the Zacks' consensus estimate of $0.51 by $0.13. The firm had revenue of $469.92 million during the quarter, compared to the consensus estimate of $448.08 million. Premier had a net margin of 15.10% and a return on equity of 14.46%. The business's revenue for the quarter was up 40.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.73 EPS.
A number of analysts have recently weighed in on the company. Zacks Investment Research downgraded Premier from a "hold" rating to a "sell" rating in a research report on Thursday, May 20th. Canaccord Genuity upped their price target on shares of Premier from $44.00 to $46.00 and gave the stock a "buy" rating in a report on Wednesday, May 5th. Barclays cut shares of Premier from an "overweight" rating to an "underweight" rating and decreased their price objective for the company from $42.00 to $34.00 in a research note on Friday, May 28th. Robert W. Baird restated a "hold" rating on shares of Premier in a research note on Thursday, May 6th. Finally, Piper Sandler decreased their price target on Premier from $36.00 to $31.00 in a research note on Tuesday, May 4th. Four research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of "Hold" and a consensus price target of $38.29.
NASDAQ PINC opened at $35.65 on Thursday. The firm has a 50-day simple moving average of $34.53. The company has a market cap of $4.36 billion, a P/E ratio of 19.17, a P/E/G ratio of 2.10 and a beta of 0.25. The company has a quick ratio of 0.78, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. Premier has a 12-month low of $30.13 and a 12-month high of $37.79.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 15th. Stockholders of record on Tuesday, June 1st were paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 2.13%. The ex-dividend date of this dividend was Friday, May 28th. Premier's dividend payout ratio is currently 31.54%.
In other news, CFO Craig S. Mckasson sold 5,000 shares of the company's stock in a transaction that occurred on Wednesday, May 5th. The stock was sold at an average price of $34.92, for a total value of $174,600.00. Following the completion of the transaction, the chief financial officer now owns 128,563 shares of the company's stock, valued at $4,489,419.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.40% of the company's stock.
Large investors have recently made changes to their positions in the stock. MESIROW FINANCIAL INVESTMENT MANAGEMENT Equity & Fixed Income raised its position in Premier by 10.0% during the 1st quarter. MESIROW FINANCIAL INVESTMENT MANAGEMENT Equity & Fixed Income now owns 235,651 shares of the company's stock worth $7,977,000 after purchasing an additional 21,510 shares during the last quarter. Advisors Asset Management Inc. bought a new position in Premier during the 1st quarter worth $80,000. Mission Wealth Management LP increased its position in Premier by 21.1% during the 1st quarter. Mission Wealth Management LP now owns 16,688 shares of the company's stock valued at $565,000 after purchasing an additional 2,908 shares during the period. Human Investing LLC acquired a new stake in Premier during the 1st quarter valued at approximately $1,041,000. Finally, Brandes Investment Partners LP increased its position in Premier by 8.8% during the 1st quarter. Brandes Investment Partners LP now owns 38,589 shares of the company's stock valued at $1,311,000 after purchasing an additional 3,130 shares during the period. 65.23% of the stock is owned by institutional investors and hedge funds.
Premier, Inc engages in the provision of healthcare improvement solutions. It operates through the Supply Chain Services and Performance Services segments: The Supply Chain Services segment includes healthcare group purchasing organization (GPO) programs in the United States, supply chain co-management, and direct sourcing activities.
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