Premier (PINC) Receives “Buy” Rating from SunTrust Banks

Premier (NASDAQ:PINC)‘s stock had its “buy” rating restated by analysts at SunTrust Banks in a research note issued to investors on Thursday. They presently have a $38.00 price objective on the stock. SunTrust Banks’ target price would suggest a potential upside of 17.18% from the company’s previous close.

PINC has been the subject of several other research reports. Robert W. Baird reissued a “buy” rating and issued a $35.00 price target on shares of Premier in a research report on Friday, November 10th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $30.00 price target on shares of Premier in a research report on Tuesday, December 19th. Citigroup started coverage on shares of Premier in a research report on Thursday, January 4th. They issued a “neutral” rating for the company. BidaskClub raised shares of Premier from a “sell” rating to a “hold” rating in a research report on Tuesday, January 23rd. Finally, Zacks Investment Research raised shares of Premier from a “sell” rating to a “hold” rating in a research report on Thursday, November 23rd. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Premier has an average rating of “Buy” and a consensus price target of $36.86.

Shares of Premier (PINC) traded up $0.82 during mid-day trading on Thursday, reaching $32.43. 335,175 shares of the company’s stock traded hands, compared to its average volume of 717,376. Premier has a 52 week low of $27.16 and a 52 week high of $36.50. The stock has a market cap of $4,538.23, a PE ratio of -9.95, a PEG ratio of 1.40 and a beta of 0.50.

Premier (NASDAQ:PINC) last issued its quarterly earnings results on Monday, February 5th. The company reported $0.50 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.02. Premier had a net margin of 14.14% and a negative return on equity of 18.21%. The company had revenue of $411.40 million during the quarter, compared to analysts’ expectations of $393.35 million. During the same quarter last year, the company posted $0.46 EPS. The firm’s revenue was up 14.8% compared to the same quarter last year. analysts forecast that Premier will post 1.93 EPS for the current year.

Several institutional investors have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company lifted its position in shares of Premier by 7.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,373 shares of the company’s stock worth $157,000 after purchasing an additional 315 shares during the last quarter. Voya Investment Management LLC lifted its position in shares of Premier by 2.5% during the 2nd quarter. Voya Investment Management LLC now owns 15,889 shares of the company’s stock worth $572,000 after purchasing an additional 382 shares during the last quarter. Alliancebernstein L.P. lifted its position in shares of Premier by 2.3% during the 2nd quarter. Alliancebernstein L.P. now owns 32,057 shares of the company’s stock worth $1,154,000 after purchasing an additional 708 shares during the last quarter. California State Teachers Retirement System lifted its position in shares of Premier by 1.0% during the 2nd quarter. California State Teachers Retirement System now owns 93,550 shares of the company’s stock worth $3,368,000 after purchasing an additional 888 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in shares of Premier by 30.9% during the 2nd quarter. PNC Financial Services Group Inc. now owns 4,796 shares of the company’s stock worth $173,000 after purchasing an additional 1,132 shares during the last quarter. 39.52% 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.

Analyst Recommendations for Premier (NASDAQ:PINC)

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