Premier, Inc. (NASDAQ:PINC) – Stock analysts at Jefferies Group cut their Q2 2018 earnings per share (EPS) estimates for Premier in a research report issued to clients and investors on Monday. Jefferies Group analyst S. Dodge now expects that the company will post earnings per share of $0.44 for the quarter, down from their previous forecast of $0.47. Jefferies Group currently has a “Buy” rating and a $40.00 target price on the stock. Jefferies Group also issued estimates for Premier’s Q3 2018 earnings at $0.48 EPS, Q4 2018 earnings at $0.52 EPS, FY2018 earnings at $1.85 EPS and FY2019 earnings at $2.00 EPS.

Premier (NASDAQ:PINC) last issued 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). The business had revenue of $390.56 million for the quarter, compared to the consensus estimate of $389.56 million. Premier had a negative return on equity of 18.31% and a net margin of 17.99%. Premier’s revenue for the quarter was up 24.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.41 EPS.

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A number of other equities analysts have also weighed in on the stock. Zacks Investment Research upgraded shares of Premier from a “sell” rating to a “hold” rating in a research report on Tuesday, September 5th. BidaskClub lowered shares of Premier from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 23rd. William Blair reiterated an “ourperform” rating on shares of Premier in a research report on Tuesday, August 22nd. KeyCorp reiterated a “buy” rating and set a $42.00 target price on shares of Premier in a research report on Wednesday, October 4th. Finally, Piper Jaffray Companies reiterated a “hold” rating on shares of Premier in a research report on Tuesday, August 22nd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $38.71.

Shares of Premier (NASDAQ:PINC) traded down $2.26 during trading hours on Thursday, reaching $27.79. 3,210,575 shares of the company’s stock were exchanged, compared to its average volume of 553,128. The company has a market capitalization 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 has a 12-month low of $27.15 and a 12-month high of $36.50.

Premier announced that its Board of Directors has authorized a share repurchase plan on Tuesday, October 31st that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

In other news, SVP Leigh Anderson sold 2,264 shares of the firm’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $32.73, for a total value of $74,100.72. Following the completion of the transaction, the senior vice president now directly owns 14,654 shares in the company, valued at $479,625.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Susan D. Devore sold 40,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 29th. The shares were sold at an average price of $32.74, for a total transaction of $1,309,600.00. Following the completion of the transaction, the chief executive officer now owns 466,427 shares of the company’s stock, valued at $15,270,819.98. The disclosure for this sale can be found here. Insiders sold 78,014 shares of company stock valued at $2,575,863 over the last 90 days. 17.52% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Wells Fargo & Company MN raised its stake in Premier by 101.5% in the third quarter. Wells Fargo & Company MN now owns 119,608 shares of the company’s stock valued at $3,896,000 after purchasing an additional 60,257 shares in the last quarter. Schroder Investment Management Group raised its stake in Premier by 570.8% in the third quarter. Schroder Investment Management Group now owns 123,910 shares of the company’s stock valued at $4,049,000 after purchasing an additional 105,439 shares in the last quarter. Trexquant Investment LP purchased a new stake in Premier in the third quarter valued at approximately $522,000. JPMorgan Chase & Co. raised its stake in Premier by 3.2% in the third quarter. JPMorgan Chase & Co. now owns 2,380,922 shares of the company’s stock valued at $77,808,000 after purchasing an additional 73,535 shares in the last quarter. Finally, Legal & General Group Plc raised its stake in Premier by 25.7% in the third quarter. Legal & General Group Plc now owns 23,788 shares of the company’s stock valued at $775,000 after purchasing an additional 4,866 shares in the last quarter. 38.49% of the stock is currently owned by institutional investors and hedge funds.

About Premier

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.

Earnings History and Estimates for Premier (NASDAQ:PINC)

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