Zacks Investment Research upgraded shares of Premier (NASDAQ:PINC) from a hold rating to a buy rating in a research report released on Tuesday, Zacks.com reports. They currently have $44.00 target price on the stock.
According to Zacks, “Premier, Inc. operates as a healthcare alliance. The company brings together hospitals, health systems, physicians and other healthcare providers primarily in the United States. It also maintains clinical, financial and outcomes databases. Premier, Inc. is headquartered in Charlotte, North Carolina. “
Several other analysts have also recently commented on the stock. Guggenheim initiated coverage on shares of Premier in a research report on Tuesday, June 18th. They set a neutral rating and a $41.00 target price for the company. Citigroup upgraded shares of Premier from a neutral rating to a buy rating and set a $45.00 target price for the company in a research report on Thursday, May 2nd. BidaskClub cut shares of Premier from a buy rating to a hold rating in a research report on Wednesday, March 6th. Leerink Swann cut shares of Premier from an outperform rating to a market perform rating and set a $36.00 target price for the company. in a research report on Wednesday, April 10th. Finally, Svb Leerink cut shares of Premier from an outperform rating to a market perform rating in a research report on Wednesday, April 10th. Nine investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $43.45.
PINC stock opened at $39.02 on Tuesday. The stock has a 50 day moving average of $37.92. Premier has a fifty-two week low of $31.31 and a fifty-two week high of $47.22. The company has a market cap of $4.96 billion, a PE ratio of 55.74, a PEG ratio of 1.32 and a beta of 0.35.
Premier (NASDAQ:PINC) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.05. Premier had a net margin of 21.50% and a negative return on equity of 27.23%. The firm had revenue of $422.90 million during the quarter, compared to analysts’ expectations of $432.94 million. During the same quarter in the previous year, the company posted $0.67 EPS. Premier’s revenue was down .6% on a year-over-year basis. As a group, research analysts forecast that Premier will post 2.45 EPS for the current year.
In other Premier news, CFO Craig S. Mckasson sold 50,000 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $37.54, for a total transaction of $1,877,000.00. Following the completion of the sale, the chief financial officer now owns 135,709 shares in the company, valued at approximately $5,094,515.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP David Alfred Hargraves sold 1,037 shares of the company’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $37.61, for a total transaction of $39,001.57. Following the completion of the sale, the senior vice president now owns 10,024 shares of the company’s stock, valued at approximately $377,002.64. The disclosure for this sale can be found here. Insiders own 18.30% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Nordea Investment Management AB boosted its stake in shares of Premier by 2.0% during the 1st quarter. Nordea Investment Management AB now owns 104,894 shares of the company’s stock worth $3,618,000 after buying an additional 2,041 shares during the last quarter. Quantinno Capital Management LP bought a new stake in shares of Premier in the 1st quarter valued at about $832,000. Mission Wealth Management LP bought a new stake in shares of Premier in the 1st quarter valued at about $236,000. Fort L.P. raised its holdings in shares of Premier by 33.1% in the 1st quarter. Fort L.P. now owns 55,499 shares of the company’s stock valued at $1,914,000 after purchasing an additional 13,811 shares during the period. Finally, Westwood Holdings Group Inc. raised its holdings in shares of Premier by 8.1% in the 1st quarter. Westwood Holdings Group Inc. now owns 328,164 shares of the company’s stock valued at $11,318,000 after purchasing an additional 24,532 shares during the period. Institutional investors and hedge funds own 48.30% of the company’s stock.
Premier Company Profile
Premier, Inc, together with its subsidiaries, operates as a healthcare improvement company in the United States. The company operates through two segments, Supply Chain Services and Performance Services. The Supply Chain Services segment offers its members with access to a range of products and services, including medical and surgical products, pharmaceuticals, laboratory supplies, capital equipment, information technology, facilities and construction, and food and nutritional products, as well as purchased services, such as clinical engineering and document shredding services and software-as-a-service informatics products.
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