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PINC Premier

Premier Inc. is a leading healthcare improvement company, uniting an alliance of more than 4,100 U.S. hospitals and health systems and approximately 200,000 other providers and organizations to transform healthcare. With integrated data and analytics, collaboratives, supply chain solutions, and consulting and other services, Premier enables better care and outcomes at a lower cost. Premier plays a critical role in the rapidly evolving healthcare industry, collaborating with members to co-develop long-term innovations that reinvent and improve the way care is delivered to patients nationwide. Headquartered in Charlotte, N.C., Premier is passionate about transforming American healthcare.

Company profile

Ticker
PINC
Exchange
CEO
Susan D. DeVore
Employees
Location
Fiscal year end
SEC CIK
Subsidiaries
Premier Services, LLC • Premier Services II, LLC • Premier Healthcare Alliance, L.P. • Premier Supply Chain Improvement, Inc. • Premier Healthcare Solutions, Inc. • Premier Marketplace, LLC • Premier Supply Chain Holdings, LLC • NS3Health, LLC • SVS LLC • Commcare Pharmacy - FTL, LLC ...

PINC stock data

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Calendar

17 Aug 21
27 Oct 21
30 Jun 22
Quarter (USD)
Jun 21 Mar 21 Dec 20 Sep 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Jun 21 Jun 20 Jun 19 Jun 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from Premier earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 129.14M 129.14M 129.14M 129.14M 129.14M 129.14M
Cash burn (monthly) 1.15M (positive/no burn) (positive/no burn) (positive/no burn) (positive/no burn) (positive/no burn)
Cash used (since last report) 4.51M n/a n/a n/a n/a n/a
Cash remaining 124.63M n/a n/a n/a n/a n/a
Runway (months of cash) 108.6 n/a n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
7 Oct 21 David L Klatsky Class A Common Stock Sell Dispose S No Yes 38.72 15,319 593.15K 50,293
7 Oct 21 David L Klatsky Class A Common Stock Option exercise Acquire M No Yes 32.9 8,388 275.97K 65,612
7 Oct 21 David L Klatsky Class A Common Stock Option exercise Acquire M No Yes 31.65 4,231 133.91K 57,224
7 Oct 21 David L Klatsky Option Class A Common Stock Option exercise Dispose M No Yes 32.9 8,388 275.97K 0
7 Oct 21 David L Klatsky Option Class A Common Stock Option exercise Dispose M No Yes 31.65 4,231 133.91K 0
1 Sep 21 Leigh Anderson Class A Common Stock Payment of exercise Dispose F No No 37.18 3,530 131.25K 145,449
1 Sep 21 Michael J. Alkire Class A Common Stock Payment of exercise Dispose F No No 37.18 7,131 265.13K 398,076
1 Sep 21 David L Klatsky Class A Common Stock Payment of exercise Dispose F No No 37.18 1,618 60.16K 52,993
1 Sep 21 David Alfred Hargraves Class A Common Stock Payment of exercise Dispose F No No 37.18 1,294 48.11K 42,580

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

65.6% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 193 214 -9.8%
Opened positions 19 36 -47.2%
Closed positions 40 21 +90.5%
Increased positions 75 77 -2.6%
Reduced positions 72 71 +1.4%
13F shares
Current Prev Q Change
Total value 2.84B 3.05B -7.0%
Total shares 80.52M 79.36M +1.5%
Total puts 14.7K 67.7K -78.3%
Total calls 50.3K 20.8K +141.8%
Total put/call ratio 0.3 3.3 -91.0%
Largest owners
Shares Value Change
Vanguard 10.04M $349.2M -2.2%
River Road Asset Management 7.23M $251.45M +1.6%
Massachusetts Financial Services 6.05M $210.51M -5.5%
BLK Blackrock 5.6M $194.91M -0.1%
MKFCF Mackenzie Financial 5.43M $189.04M +2.2%
FMR 4.3M $149.69M +53.3%
Adventist Health System Sunbelt Healthcare 3.46M $120.27M -3.1%
Burgundy Asset Management 3.33M $115.79M -0.2%
JPM JPMorgan Chase & Co. 2.68M $93.36M -21.4%
Renaissance Technologies 2.65M $92.23M -5.8%
Largest transactions
Shares Bought/sold Change
First Trust Advisors 2.64M +1.83M +225.9%
FMR 4.3M +1.5M +53.3%
Reinhart Partners 122.09K -981.78K -88.9%
Mirae Asset Global Investments 68.92K -813.9K -92.2%
JPM JPMorgan Chase & Co. 2.68M -728.74K -21.4%
Allianz Asset Management GmbH 384.03K +358.96K +1432.0%
Massachusetts Financial Services 6.05M -349.81K -5.5%
Dimensional Fund Advisors 2.14M +341.25K +19.0%
WFC Wells Fargo & Co. 1.74M +287.97K +19.8%
Citadel Advisors 467.72K -249.35K -34.8%

Financial report summary

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Risks
  • We face intense competition, which could limit our ability to maintain or expand market share within our industry and harm our business and operating results.
  • Consolidation in the healthcare industry could have a material adverse effect on our business, financial condition and results of operations.
  • We may experience material delays in recognizing revenue or increasing revenue, or be required to reverse prior revenue recognition, if the sales cycle or implementation period with potential new members takes longer than anticipated or our related project estimates are not accurate.
  • If members of our GPO programs reduce activity levels or terminate or elect not to renew their contracts, our revenue and results of operations may decrease materially.
  • We derive a material portion of our revenues from our largest members and certain other customers and the sudden loss of one or more of these members or customers could materially and adversely affect our business, financial condition and results of operations.
  • The markets for our clinical analytics products and services that are SaaS- or licensed-based may develop more slowly than we expect, which could adversely affect our revenue and our ability to maintain or increase our profitability.
  • Our members are highly dependent on payments from third-party healthcare payers, including Medicare, Medicaid and other government-sponsored programs, and reductions or changes in third-party reimbursement could adversely affect these members and consequently our business.
  • We rely on the administrative fees we receive from our GPO suppliers, and the failure to maintain contracts with these GPO suppliers could have a generally negative effect on our relationships with our members and could adversely affect our business, financial condition and results of operations.
  • If we are unable to maintain our relationships with third-party providers or maintain or enter into new strategic alliances, we may be unable to grow our current base business.
  • If we are not able to timely offer new and innovative products and services, we may not remain competitive and our revenue and results of operations may suffer.
  • Our acquisition activities could result in operating difficulties, dilution, unrecoverable costs and other negative consequences, any of which may adversely impact our financial condition and results of operations.
  • Our business and growth strategies also include non-controlling investments in other businesses and joint ventures. In the event the companies or joint ventures we invest in do not perform as well as expected, we could experience the loss of some or all of the value of our investment, which loss could adversely impact our financial condition and results of operations.
  • We are subject to litigation from time to time, which could have a material adverse effect on our business, financial condition and results of operations.
  • We rely on Internet infrastructure, bandwidth providers, data center providers and other third parties and our own systems for providing services to our users, and any failure or interruption in the services provided by these third parties or our own systems, including from a cyber or other catastrophic event, could expose us to litigation and negatively impact our relationships with users, adversely affecting our brand, our business and our financial performance.
  • Data loss or corruption due to failures or errors in our systems and service disruptions at our data centers may adversely affect our reputation and relationships with existing members, which could have a negative impact on our business, financial condition and results of operations.
  • If our cyber and other security measures are breached or fail and unauthorized access to a member’s data is obtained, or our members fail to obtain proper permission for the use and disclosure of information, our services may be perceived as not being secure, members may curtail or stop using our services and we may incur material liabilities.
  • We could suffer a loss of revenue and increased costs, exposure to material liability, reputational harm, and other serious negative consequences if we are subject to cyber-attacks or other data security breaches that disrupt our operations or result in the dissemination of proprietary or confidential information about us or our members or other third parties.
  • Any restrictions on our use of, or ability to license, data, or our failure to license data and integrate third-party technologies, could have a material adverse effect on our business, financial condition and results of operations.
  • Our use of “open source” software could adversely affect our ability to sell our products and subject us to possible litigation.
  • Our direct sourcing activities depend on contract manufacturing facilities located in various parts of the world, and any physical, financial, regulatory, environmental, labor or operational disruption or product quality issues could result in a reduction in sales volumes, the incurrence of substantial expenditures and the loss of product availability.
  • If we lose key personnel or if we are unable to attract, hire, integrate and retain key personnel, our business would be harmed.
  • Failure to protect our intellectual property and claims against our use of the intellectual property of third parties could cause us to incur unanticipated expense and prevent us from providing our products and services, which could adversely affect our business, financial condition and results of operations.
  • If we are required to collect sales and use taxes on the products and services we sell in certain jurisdictions or online, we may be subject to tax liability for past sales, future sales may decrease and our financial condition may be materially and adversely affected.
  • Changes in tax laws could materially impact our effective tax rate, income tax expense, anticipated tax benefits, deferred tax assets, cash flows and profitability.
  • A loss of a major tax dispute could result in a higher tax rate on our earnings, which could result in a material adverse effect on our financial condition and results of operations.
  • We may need to obtain additional financing which may not be available or may be on unfavorable terms and result in dilution to, or a diminution of the rights of, our stockholders and cause a decrease in the price of our Class A common stock.
  • If we cannot refinance or replace our existing credit facility at maturity, it could have a material adverse effect on our ability to fund our ongoing cash requirements. Current or future indebtedness could adversely affect our business and our liquidity position.
  • Our quarterly revenues and results of operations have fluctuated in the past and may continue to fluctuate in the future.
  • The healthcare industry is highly regulated. Any material changes in the political, economic or regulatory environment that affect the GPO business or the purchasing practices and operations of healthcare organizations, or that lead to consolidation in the healthcare industry, could reduce the funds available to providers to purchase our products and services or otherwise require us to modify our services.
  • If we fail to comply with complex federal and state laws governing financial relationships among healthcare providers and submission of false or fraudulent claims to government healthcare programs, we may be subject to civil and criminal penalties or loss of eligibility to participate in government healthcare programs.
  • If current or future antitrust laws and regulations are interpreted or enforced in a manner adverse to us or our business, we may be subject to enforcement actions, penalties and other material limitations on our business.
  • Complex international, federal and state, as well as international, privacy, security and breach notification laws may increase the costs of operation and expose us to civil and criminal government sanctions and third-party civil litigation.
  • If we become subject to regulation by the Food and Drug Administration because the functionality in one or more of our software applications causes the software to be regulated as a medical device, our financial results may be adversely impacted due to increased operating costs or delayed commercialization of regulated software products.
  • Premier, Inc. is a holding company with no material business operations of its own, and it depends on distributions from Premier LP to pay taxes, pay any cash dividends, if declared, and make share repurchases of our Class A common stock, if approved.
  • Payments required under the Unit Exchange and Tax Receivable Acceleration Agreements will reduce the amount of overall cash flow that would otherwise be available to us. In addition, we may not be able to realize all or a portion of the expected tax benefits that correspond to our fixed payment obligations associated with the acceleration of our TRA.
  • Our certificate of incorporation and bylaws and provisions of Delaware law may discourage or prevent strategic transactions, including a takeover of our company, even if such a transaction would be beneficial to our stockholders.
  • If we fail to maintain an effective system of integrated internal controls, we may not be able to report our financial results accurately, we may determine that our prior financial statements are not reliable, or we may be required to expend material financial and personnel resources to remediate any weaknesses, any of which could have a material adverse effect on our business, financial condition and results of operations.
  • There can be no assurance we will pay dividends on our Class A common stock at current levels or at all, and failure to pay any such dividends could have a material adverse impact on our stock price and your investment in Premier.
  • Our future issuance of common stock, preferred stock, limited partnership units or debt securities could have a dilutive effect on our common stockholders and adversely affect the market value of our Class A common stock.
Management Discussion
  • Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations
  • Premier, Inc. (“Premier”, the “Company”, “we”, or “our”) is a leading healthcare improvement company, uniting an alliance of U.S. hospitals, health systems and other providers and organizations to transform healthcare. We partner with hospitals, health systems, physicians and other healthcare providers with the common goal of improving and innovating in the clinical, financial and operational areas of their businesses to meet the demands of a rapidly evolving healthcare industry. We deliver value through a comprehensive technology-enabled platform that offers critical supply chain services, clinical, financial, operational and value-based care software-as-a-service (“SaaS”) and licensed-based clinical analytics products, enterprise analytics licenses, consulting services and performance improvement collaborative programs. We also provide services to other businesses including food service, schools and universities.
  • See “Our Use of Non-GAAP Financial Measures” and “Results of Operations” below for a discussion of our use of Adjusted EBITDA and a reconciliation of net income from continuing operations to Adjusted EBITDA.
Content analysis
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