Premier, Inc. (NASDAQ:PINC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday, May 12th.
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. “
A number of other equities analysts have also recently commented on PINC. Canaccord Genuity reiterated a “buy” rating and issued a $40.00 target price on shares of Premier in a report on Friday, January 13th. Jefferies Group LLC set a $40.00 price objective on Premier and gave the company a “buy” rating in a report on Monday, January 16th. William Blair restated an “outperform” rating on shares of Premier in a report on Tuesday, February 7th. Oppenheimer Holdings, Inc. set a $40.00 target price on Premier and gave the company a “buy” rating in a research report on Tuesday, February 7th. Finally, Evercore ISI lowered Premier from a “hold” rating to an “underperform” rating in a research report on Friday, March 3rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $38.55.
Shares of Premier (NASDAQ PINC) traded up 0.94% during mid-day trading on Friday, hitting $35.32. 592,038 shares of the stock traded hands. Premier has a 52 week low of $28.27 and a 52 week high of $35.84. The firm’s 50-day moving average is $34.63 and its 200-day moving average is $32.24. The stock has a market cap of $1.83 billion, a price-to-earnings ratio of 16.65 and a beta of 0.48.
Premier (NASDAQ:PINC) last announced its earnings results on Monday, May 8th. The company reported $0.52 EPS for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.05. The firm had revenue of $379.80 million during the quarter, compared to analysts’ expectations of $401.71 million. Premier had a negative return on equity of 13.95% and a net margin of 31.41%. The company’s quarterly revenue was up 27.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.44 EPS. On average, analysts forecast that Premier will post $1.91 earnings per share for the current year.
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In other Premier news, CEO Susan D. Devore sold 40,000 shares of the stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $35.24, for a total transaction of $1,409,600.00. Following the completion of the transaction, the chief executive officer now owns 391,589 shares of the company’s stock, valued at $13,799,596.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Durral R. Gilbert sold 82,861 shares of the stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $35.11, for a total value of $2,909,249.71. Following the transaction, the insider now directly owns 145,261 shares of the company’s stock, valued at approximately $5,100,113.71. The disclosure for this sale can be found here. Insiders sold a total of 183,611 shares of company stock valued at $6,451,880 in the last ninety days. 17.14% of the stock is currently owned by insiders.
Several large investors have recently bought and sold shares of the stock. Punch & Associates Investment Management Inc. raised its position in shares of Premier by 1.8% in the third quarter. Punch & Associates Investment Management Inc. now owns 74,852 shares of the company’s stock valued at $2,421,000 after buying an additional 1,299 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Premier by 3.0% in the third quarter. Bank of New York Mellon Corp now owns 174,051 shares of the company’s stock valued at $5,629,000 after buying an additional 5,066 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of Premier by 50.3% in the third quarter. PNC Financial Services Group Inc. now owns 4,738 shares of the company’s stock valued at $152,000 after buying an additional 1,586 shares during the last quarter. BlackRock Advisors LLC raised its position in shares of Premier by 3.6% in the third quarter. BlackRock Advisors LLC now owns 26,634 shares of the company’s stock valued at $861,000 after buying an additional 928 shares during the last quarter. Finally, BlackRock Inc. raised its position in shares of Premier by 19.8% in the third quarter. BlackRock Inc. now owns 14,714 shares of the company’s stock valued at $476,000 after buying an additional 2,434 shares during the last quarter.
Premier Company Profile
Premier, Inc is a healthcare improvement company. The Company is uniting an alliance of approximately 3,750 United States hospitals and more than 130,000 other provider organizations to transform healthcare. The Company operates healthcare group purchasing organizations and also provides integrated data and analytics, supply chain solutions, advisory services, performance improvement collaborative and other services.
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