Why Premier Stock Fell 16% This Week

Shares of Premier (NASDAQ: PINC) are down 15.5% this week as of 12:05 p.m. ET Friday, according to data provided by S&P Global Market Intelligence, after the healthcare-improvement leader announced mixed fiscal fourth-quarter results as it continues to move forward in its assessment of potential strategic alternatives.

Indeed, the bulk of Premier's declines this week came on Wednesday, the first trading day after its quarterly update hit the wires.

For its fiscal Q4 2023 (ended June 30, 2023), Premier's net revenue declined slightly from the same year-ago period to $340.4 million, falling short of analysts' consensus estimates for sales closer to $355 million. That translated to net income attributable to stockholders of $21.5 million, or $0.18 per share, down 28% from $0.25 per share a year earlier. On an adjusted (non-GAAP) basis, Premier's earnings per share (EPS) climbed 11% year over year to $0.68, technically exceeding estimates for adjusted earnings of $0.65 per share.

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Source Fool.com