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NEW YORK (TheStreet) -- Shares of Premier (PINC) were sliding 7.26% to $31.29 on heavy trading volume late Tuesday afternoon after the company posted lower-than-expected earnings for the 2016 fiscal fourth quarter.

After yesterday's closing bell, the Charlotte, NC-based healthcare company reported adjusted earnings of 36 cents per share, below analysts' estimates of 38 cents per share.

Revenue for the quarter was $301.4 million, topping Wall Street's projections of $299.9 million.

For the full year, Premier reported adjusted earnings of $1.61 per diluted share on revenue of $1.16 billion.

For fiscal 2017, the company sees earnings in the range of $1.71 per share to $1.82 per share on revenue between $1.45 billion and $1.52 billion.

Analysts are looking for earnings of $1.80 per share on revenue of $1.34 billion for the year.

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Additionally, Premier stock was downgraded to "hold" from "buy" with a $34 price target at Evercore earlier today. The firm sees the company's free cash flow as "unimpressive," according to note cited by the Fly. 

More than 2.2 million of the company's shares traded so far today, higher than the 30-day daily average of about 450,000 shares.

Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

TheStreet Ratings rated this stock as a "sell" with a ratings score of D+.

Among the areas we feel are negative, one of the most important has been a generally disappointing historical performance in the stock itself.

You can view the full analysis from the report here: PINC

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