Healthcare tech company Premier (NASDAQ: PINC) will be announcing earnings results this Tuesday before the bell. Here’s what investors should know.
Premier beat analysts’ revenue expectations by 5% last quarter, reporting revenues of $262.9 million, down 12.5% year on year. It was a strong quarter for the company, with a beat of analysts’ EPS estimates and a solid beat of analysts’ revenue estimates.
Is Premier a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting Premier’s revenue to decline 2.3% year on year to $242.3 million, improving from the 7.8% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.27 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Premier has missed Wall Street’s revenue estimates five times over the last two years.
Looking at Premier’s peers in the healthcare technology segment, only Omnicell has reported results so far. It beat analysts’ revenue estimates by 5%, delivering year-on-year sales growth of 10%. The stock traded up 13.6% on the results.
Read our full analysis of Omnicell’s earnings results here.Investors in the healthcare technology segment have had steady hands going into earnings, with share prices flat over the last month. Premier’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $27.95 (compared to the current share price of $28.12).
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