Premier (NASDAQ:PINC) Issues FY 2022 Earnings Guidance

Premier (NASDAQ:PINC) issued an update on its FY 2022 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $2.500-$2.600 for the period, compared to the Thomson Reuters consensus estimate of $2.430. The company issued revenue guidance of $1.32 billion-$1.43 billion, compared to the consensus revenue estimate of $1.46 billion.

Shares of NASDAQ:PINC opened at $39.69 on Wednesday. The company has a fifty day moving average of $36.45 and a 200-day moving average of $35.09. The company has a market capitalization of $4.87 billion, a PE ratio of 15.44, a price-to-earnings-growth ratio of 1.96 and a beta of 0.25. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.85 and a current ratio of 1.09. Premier has a 52-week low of $30.13 and a 52-week high of $39.82.

Premier (NASDAQ:PINC) last posted its quarterly earnings data on Monday, August 16th. The company reported $0.60 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.01. The firm had revenue of $481.50 million during the quarter, compared to analyst estimates of $438.30 million. Premier had a net margin of 18.05% and a return on equity of 13.74%. The company’s revenue for the quarter was up 40.5% on a year-over-year basis. During the same quarter last year, the business posted $0.58 EPS. On average, equities analysts forecast that Premier will post 2.34 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 15th. Investors of record on Wednesday, September 1st will be issued a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, August 31st. This is an increase from Premier’s previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a yield of 2.02%. Premier’s dividend payout ratio (DPR) is 36.04%.

PINC has been the subject of several analyst reports. Barclays downgraded shares of Premier from an overweight rating to an underweight rating and cut their price target for the company from $42.00 to $34.00 in a report on Friday, May 28th. TheStreet raised shares of Premier from a c+ rating to a b rating in a report on Thursday, July 1st. Raymond James raised their price target on shares of Premier from $39.00 to $45.00 and gave the company an outperform rating in a report on Thursday, August 19th. Zacks Investment Research downgraded shares of Premier from a buy rating to a hold rating in a report on Tuesday, August 24th. Finally, SVB Leerink raised their price target on shares of Premier from $44.00 to $46.00 and gave the company an outperform rating in a report on Wednesday, August 18th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Hold and a consensus target price of $39.75.

In other Premier news, CFO Craig S. Mckasson sold 104,014 shares of the company’s stock in a transaction that occurred on Wednesday, August 18th. The shares were sold at an average price of $38.07, for a total transaction of $3,959,812.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP David Alfred Hargraves sold 2,860 shares of the company’s stock in a transaction that occurred on Thursday, August 26th. The shares were sold at an average price of $37.09, for a total transaction of $106,077.40. Following the sale, the senior vice president now directly owns 43,874 shares of the company’s stock, valued at $1,627,286.66. The disclosure for this sale can be found here. 2.40% of the stock is currently owned by insiders.

A hedge fund recently raised its stake in Premier stock. OLD Mission Capital LLC increased its stake in Premier, Inc. (NASDAQ:PINC) by 40.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,336 shares of the company’s stock after buying an additional 8,728 shares during the period. OLD Mission Capital LLC’s holdings in Premier were worth $996,000 as of its most recent SEC filing. Institutional investors own 66.30% of the company’s stock.

About Premier

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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Earnings History and Estimates for Premier (NASDAQ:PINC)

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