Premier (NASDAQ:PINC) Issues Earnings Results, Beats Expectations By $0.05 EPS

Premier (NASDAQ:PINCGet Rating) announced its quarterly earnings data on Tuesday. The company reported $0.57 EPS for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.05, MarketWatch Earnings reports. Premier had a return on equity of 12.66% and a net margin of 17.42%. The firm had revenue of $347.84 million during the quarter, compared to analyst estimates of $340.10 million. During the same period last year, the company earned $0.55 earnings per share. The company’s revenue was down 26.0% on a year-over-year basis.

Shares of PINC traded up $0.14 during trading hours on Tuesday, hitting $36.11. 2,840 shares of the company were exchanged, compared to its average volume of 497,555. The company has a market cap of $4.30 billion, a price-to-earnings ratio of 15.11, a P/E/G ratio of 1.83 and a beta of 0.28. Premier has a fifty-two week low of $32.57 and a fifty-two week high of $42.15. The company has a quick ratio of 0.80, a current ratio of 1.01 and a debt-to-equity ratio of 0.11. The firm’s fifty day moving average is $36.18 and its 200 day moving average is $38.02.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 15th. Stockholders of record on Wednesday, June 1st will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.22%. The ex-dividend date is Tuesday, May 31st. Premier’s dividend payout ratio (DPR) is currently 33.61%.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Metropolitan Life Insurance Co NY acquired a new stake in shares of Premier during the 4th quarter worth $100,000. Advisors Asset Management Inc. grew its holdings in shares of Premier by 39.5% during the 4th quarter. Advisors Asset Management Inc. now owns 6,701 shares of the company’s stock worth $276,000 after purchasing an additional 1,898 shares in the last quarter. Schonfeld Strategic Advisors LLC grew its holdings in shares of Premier by 48.0% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 10,062 shares of the company’s stock worth $414,000 after purchasing an additional 3,262 shares in the last quarter. NewEdge Advisors LLC bought a new stake in shares of Premier during the 4th quarter worth $427,000. Finally, Jane Street Group LLC lifted its position in shares of Premier by 59.3% during the 3rd quarter. Jane Street Group LLC now owns 21,246 shares of the company’s stock worth $823,000 after buying an additional 7,912 shares during the last quarter. 67.78% of the stock is currently owned by institutional investors.

PINC has been the topic of several research reports. StockNews.com cut Premier from a “strong-buy” rating to a “buy” rating in a research note on Thursday, April 28th. Credit Suisse Group initiated coverage on Premier in a research note on Friday, April 1st. They issued an “underperform” rating and a $35.00 target price on the stock. Guggenheim initiated coverage on Premier in a research note on Wednesday, April 13th. They set a “neutral” rating on the stock. Finally, Zacks Investment Research upgraded Premier from a “sell” rating to a “hold” rating in a research note on Tuesday, April 12th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $42.00.

About Premier (Get Rating)

Premier, Inc, together with its subsidiaries, operates as a healthcare improvement company in the United States. It operates in two segments, Supply Chain Services and Performance Services. The Supply Chain Services segment offers its members with an access to a range of products and services, including medical and surgical products, pharmaceuticals, laboratory supplies, capital equipment, information technology, facilities and construction, and food and nutritional products, as well as purchased services, such as clinical engineering and document shredding.

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Earnings History for Premier (NASDAQ:PINC)

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