Q4 2017 EPS Estimates for Premier, Inc. Cut by SunTrust Banks (NASDAQ:PINC)
Premier, Inc. (NASDAQ:PINC) – Investment analysts at SunTrust Banks reduced their Q4 2017 earnings estimates for Premier in a note issued to investors on Monday. SunTrust Banks analyst S. Draper now forecasts that the company will post earnings of $0.48 per share for the quarter, down from their prior forecast of $0.51. SunTrust Banks also issued estimates for Premier’s Q1 2018 earnings at $0.43 EPS, Q2 2018 earnings at $0.48 EPS, Q3 2018 earnings at $0.52 EPS and Q4 2018 earnings at $0.51 EPS.
Premier (NASDAQ:PINC) last released its quarterly earnings results on Monday, May 8th. The company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.05. Premier had a net margin of 31.41% and a negative return on equity of 13.95%. The firm had revenue of $379.80 million during the quarter, compared to analyst estimates of $401.71 million. During the same quarter last year, the business earned $0.44 EPS. The company’s revenue was up 27.2% compared to the same quarter last year.
Other equities research analysts have also recently issued reports about the company. Zacks Investment Research cut Premier from a “hold” rating to a “sell” rating in a report on Wednesday. Bank of America Corporation boosted their price target on Premier from $37.00 to $39.00 and gave the stock a “buy” rating in a research report on Thursday, May 25th. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $40.00 price target on shares of Premier in a research report on Thursday, April 13th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and twelve have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $38.55.
Premier (PINC) traded up 0.70% on Wednesday, reaching $36.04. 93,516 shares of the company’s stock traded hands. Premier has a 12 month low of $28.27 and a 12 month high of $36.50. The firm has a market cap of $1.87 billion, a PE ratio of 16.99 and a beta of 0.47. The firm’s 50-day moving average is $35.00 and its 200 day moving average is $32.57.
A number of hedge funds and other institutional investors have recently made changes to their positions in PINC. GW&K Investment Management LLC raised its position in shares of Premier by 60.5% in the second quarter. GW&K Investment Management LLC now owns 457,664 shares of the company’s stock valued at $16,476,000 after buying an additional 172,505 shares in the last quarter. Clearbridge Investments LLC acquired a new position in shares of Premier during the first quarter valued at about $13,663,000. Patten Group Inc. acquired a new position in shares of Premier during the first quarter valued at about $2,684,000. Skandinaviska Enskilda Banken AB publ raised its position in shares of Premier by 655.9% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 547,300 shares of the company’s stock valued at $17,423,000 after buying an additional 474,900 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its position in shares of Premier by 30.7% in the first quarter. Goldman Sachs Group Inc. now owns 608,222 shares of the company’s stock valued at $19,360,000 after buying an additional 142,957 shares in the last quarter.
In related news, insider Craig S. Mckasson sold 10,750 shares of the company’s stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $34.84, for a total transaction of $374,530.00. Following the transaction, the insider now directly owns 74,505 shares of the company’s stock, valued at approximately $2,595,754.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Leigh Anderson sold 1,099 shares of the company’s stock in a transaction dated Monday, June 19th. The shares were sold at an average price of $35.29, for a total value of $38,783.71. Following the transaction, the senior vice president now directly owns 7,655 shares in the company, valued at $270,144.95. The disclosure for this sale can be found here. Over the last three months, insiders sold 184,710 shares of company stock valued at $6,490,663. Corporate insiders own 17.14% of the company’s stock.
Premier Company Profile
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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