J P Morgan Chase & Co Reiterates “Neutral” Rating for Premier (PINC)

J P Morgan Chase & Co reiterated their neutral rating on shares of Premier (NASDAQ:PINC) in a report published on Tuesday morning, MarketBeat reports. They currently have a $30.00 target price on the stock.

PINC has been the topic of several other research reports. KeyCorp restated a buy rating and set a $42.00 target price on shares of Premier in a research report on Wednesday, October 4th. Zacks Investment Research upgraded Premier from a sell rating to a hold rating in a report on Tuesday, October 3rd. Piper Jaffray Companies reiterated a hold rating on shares of Premier in a report on Tuesday, August 22nd. SunTrust Banks cut their price target on Premier to $36.00 and set a buy rating on the stock in a report on Friday, November 17th. Finally, William Blair reiterated an ourperform rating on shares of Premier in a report on Tuesday, August 22nd. Two analysts have rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of $37.44.

Premier (NASDAQ PINC) traded up $0.06 during midday trading on Tuesday, hitting $29.36. The company’s stock had a trading volume of 596,782 shares, compared to its average volume of 814,952. Premier has a 1 year low of $27.16 and a 1 year high of $36.50. The company has a market cap of $4,088.87, a price-to-earnings ratio of 16.37, a PEG ratio of 1.30 and a beta of 0.40.

Premier (NASDAQ:PINC) last released its quarterly earnings results on Monday, November 6th. The company reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.05). Premier had a net margin of 17.99% and a negative return on equity of 18.31%. The company had revenue of $390.56 million during the quarter, compared to the consensus estimate of $389.56 million. During the same quarter last year, the firm posted $0.41 EPS. The company’s quarterly revenue was up 24.7% on a year-over-year basis. equities analysts expect that Premier will post 1.87 earnings per share for the current year.

In related news, COO Michael J. Alkire sold 25,000 shares of the stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $29.90, for a total transaction of $747,500.00. Following the completion of the sale, the chief operating officer now directly owns 180,550 shares of the company’s stock, valued at $5,398,445. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 17.52% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Premier by 13.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,185 shares of the company’s stock worth $115,000 after acquiring an additional 384 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of Premier by 7.8% in the second quarter. The Manufacturers Life Insurance Company now owns 4,373 shares of the company’s stock worth $157,000 after acquiring an additional 315 shares during the period. Advisors Asset Management Inc. boosted its holdings in shares of Premier by 1.6% in the second quarter. Advisors Asset Management Inc. now owns 4,461 shares of the company’s stock worth $161,000 after acquiring an additional 72 shares during the period. PNC Financial Services Group Inc. boosted its holdings in shares of Premier by 30.9% in the second quarter. PNC Financial Services Group Inc. now owns 4,796 shares of the company’s stock worth $173,000 after acquiring an additional 1,132 shares during the period. Finally, Pacer Advisors Inc. boosted its holdings in shares of Premier by 11.6% in the second quarter. Pacer Advisors Inc. now owns 7,426 shares of the company’s stock worth $267,000 after acquiring an additional 774 shares during the period. 38.31% of the stock is owned by institutional investors and hedge funds.

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About Premier

Premier, Inc is a healthcare improvement company. The Company is uniting an alliance of approximately 3,900 United States hospitals and health systems and approximately 150,000 other providers and 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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