William Blair Weighs in on Premier Inc.’s Q2 2017 Earnings (PINC)
Premier Inc. (NASDAQ:PINC) – Analysts at William Blair upped their Q2 2017 EPS estimates for Premier in a report issued on Tuesday. William Blair analyst R. Daniels now forecasts that the firm will post earnings per share of $0.40 for the quarter, up from their prior estimate of $0.38. William Blair also issued estimates for Premier’s Q3 2017 earnings at $0.45 EPS, Q4 2017 earnings at $0.47 EPS and FY2017 earnings at $1.48 EPS.
Premier (NASDAQ:PINC) last released its quarterly earnings data on Monday, November 7th. The company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.01. Premier had a net margin of 34.65% and a negative return on equity of 9.50%. The company earned $313.30 million during the quarter, compared to analysts’ expectations of $319.09 million. During the same quarter in the previous year, the company earned $0.38 earnings per share. The firm’s revenue for the quarter was up 15.7% on a year-over-year basis.
Several other research firms have also recently commented on PINC. Jefferies Group set a $40.00 price target on shares of Premier and gave the stock a “buy” rating in a report on Monday, August 22nd. Robert W. Baird lowered their target price on shares of Premier from $41.00 to $39.00 and set an “outperform” rating for the company in a report on Tuesday, August 23rd. Citigroup Inc. upped their target price on shares of Premier from $38.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday, August 23rd. Barclays PLC lowered their target price on shares of Premier from $41.00 to $39.00 and set an “overweight” rating for the company in a report on Tuesday, August 23rd. Finally, Evercore ISI cut shares of Premier from a “buy” rating to a “hold” rating and lowered their target price for the company from $36.50 to $34.00 in a report on Tuesday, August 23rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $37.33.
Premier (NASDAQ:PINC) opened at 29.24 on Thursday. The stock has a market cap of $1.46 billion, a PE ratio of 21.68 and a beta of 0.55. The firm has a 50-day moving average of $31.49 and a 200-day moving average of $32.25. Premier has a 12-month low of $28.27 and a 12-month high of $37.00.
In other news, Director Stephen R. D’arcy acquired 4,000 shares of the business’s stock in a transaction on Thursday, August 25th. The stock was bought at an average price of $30.91 per share, for a total transaction of $123,640.00. Following the transaction, the director now owns 14,042 shares in the company, valued at $434,038.22. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP R. Wesley Champion sold 7,108 shares of the company’s stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $31.47, for a total transaction of $223,688.76. The disclosure for this sale can be found here. Company insiders own 17.14% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the company. Meeder Asset Management Inc. purchased a new position in shares of Premier during the second quarter worth approximately $105,000. Advisors Asset Management Inc. increased its position in shares of Premier by 25.0% in the third quarter. Advisors Asset Management Inc. now owns 3,583 shares of the company’s stock worth $116,000 after buying an additional 717 shares in the last quarter. Bronfman E.L. Rothschild L.P. increased its position in shares of Premier by 843.8% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 3,577 shares of the company’s stock worth $116,000 after buying an additional 3,198 shares in the last quarter. Panagora Asset Management Inc. bought a new position in shares of Premier during the second quarter worth about $152,000. Finally, PNC Financial Services Group Inc. increased its position in shares of Premier by 50.3% in the third quarter. PNC Financial Services Group Inc. now owns 4,738 shares of the company’s stock worth $152,000 after buying an additional 1,586 shares in the last quarter.
Premier, Inc is a healthcare improvement company. The Company is uniting an alliance of approximately 3,750 United States hospitals and more than 130,000 other provider 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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