Healthcare tech company Premier (NASDAQ: PINC) will be announcing earnings results tomorrow before the bell. Here’s what to look for.
Premier met analysts’ revenue expectations last quarter, reporting revenues of $240.3 million, down 14.2% year on year. It was a slower quarter for the company, with a significant miss of analysts’ EPS estimates and full-year revenue guidance missing analysts’ expectations.
Is Premier a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Premier’s revenue to decline 28.9% year on year to $243.4 million, a reversal from the 6.3% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.30 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 three times over the last two years.
Looking at Premier’s peers in the healthcare technology segment, only Tandem Diabetes has reported results so far. It beat analysts’ revenue estimates by 6.8%, delivering year-on-year sales growth of 22.3%. The stock traded up 18.8% on the results.
Read our full analysis of Tandem Diabetes’s earnings results here.There has been positive sentiment among investors in the healthcare technology segment, with share prices up 4.9% on average over the last month. Premier is up 6.8% during the same time and is heading into earnings with an average analyst price target of $19.79 (compared to the current share price of $20.46).
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