Healthcare tech company Premier (NASDAQ:PINC) will be reporting earnings this Tuesday morning. Here’s what you need to know.
Premier beat analysts’ revenue expectations by 7.4% last quarter, reporting revenues of $261.4 million, down 8.9% year on year. It was a very strong quarter for the company, with a beat of analysts’ EPS estimates and an impressive beat of analysts’ full-year EPS guidance estimates.
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 28.5% year on year to $250.4 million, a reversal from the 2.9% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.34 per share.
The majority of analysts covering the company have 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 four times over the last two years.
Looking at Premier’s peers in the healthcare technology for providers segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Privia Health delivered year-on-year revenue growth of 23.4%, beating analysts’ expectations by 10.9%, and Omnicell reported revenues up 5%, topping estimates by 4.9%. Privia Health traded up 4% following the results while Omnicell’s stock price was unchanged.
Read our full analysis of Privia Health’s results here and Omnicell’s results here.
There has been positive sentiment among investors in the healthcare technology for providers segment, with share prices up 7.2% on average over the last month. Premier is up 19.2% during the same time and is heading into earnings with an average analyst price target of $22.33 (compared to the current share price of $24.95).
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