Analysts Set Premier Inc (PINC) PT at $41.46

Shares of Premier Inc (NASDAQ:PINC) have received a consensus rating of “Buy” from the eighteen brokerages that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, eight have given a hold recommendation, eight have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among analysts that have covered the stock in the last year is $41.46.

Several equities analysts have recently weighed in on PINC shares. Raymond James raised their price objective on shares of Premier from $37.00 to $49.00 and gave the company an “in-line” rating in a research report on Wednesday, August 22nd. Canaccord Genuity raised their price objective on shares of Premier from $38.00 to $42.00 and gave the company a “hold” rating in a research report on Wednesday, August 22nd. Zacks Investment Research lowered shares of Premier from a “hold” rating to a “sell” rating in a research report on Friday, August 24th. Oppenheimer upped their price objective on shares of Premier to $48.00 and gave the company an “outperform” rating in a research note on Tuesday, August 21st. Finally, Piper Jaffray Companies upped their price objective on shares of Premier from $32.00 to $40.00 and gave the company a “neutral” rating in a research note on Tuesday, August 21st.

Shares of NASDAQ:PINC traded down $0.01 during trading hours on Friday, hitting $40.15. 16,417 shares of the company’s stock traded hands, compared to its average volume of 1,042,039. Premier has a 52 week low of $28.59 and a 52 week high of $47.22. The firm has a market cap of $5.29 billion, a price-to-earnings ratio of 57.36, a price-to-earnings-growth ratio of 1.38 and a beta of 0.51.

Premier (NASDAQ:PINC) last posted its quarterly earnings data on Tuesday, November 6th. The company reported $0.65 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.05. Premier had a net margin of 32.31% and a negative return on equity of 23.61%. The company had revenue of $401.60 million during the quarter, compared to analyst estimates of $412.79 million. During the same quarter last year, the firm posted $0.44 EPS. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. As a group, equities analysts forecast that Premier will post 2.46 earnings per share for the current year.

In other Premier news, insider Craig S. Mckasson sold 6,250 shares of the company’s stock in a transaction dated Thursday, November 15th. The shares were sold at an average price of $39.44, for a total transaction of $246,500.00. Following the completion of the sale, the insider now directly owns 85,709 shares of the company’s stock, valued at $3,380,362.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP David Alfred Hargraves sold 2,210 shares of the company’s stock in a transaction dated Tuesday, October 2nd. The shares were sold at an average price of $45.58, for a total transaction of $100,731.80. Following the sale, the senior vice president now directly owns 11,108 shares of the company’s stock, valued at $506,302.64. The disclosure for this sale can be found here. Insiders have sold 10,383 shares of company stock valued at $430,421 over the last ninety days. Insiders own 18.30% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. HM Payson & Co. purchased a new stake in shares of Premier in the third quarter worth approximately $1,427,000. Vanguard Group Inc. lifted its position in shares of Premier by 3.9% in the third quarter. Vanguard Group Inc. now owns 5,067,095 shares of the company’s stock worth $231,972,000 after purchasing an additional 190,635 shares in the last quarter. Sawgrass Asset Management LLC purchased a new stake in shares of Premier in the third quarter worth approximately $605,000. Nordea Investment Management AB lifted its position in shares of Premier by 3.8% in the third quarter. Nordea Investment Management AB now owns 100,304 shares of the company’s stock worth $4,592,000 after purchasing an additional 3,650 shares in the last quarter. Finally, TIAA CREF Investment Management LLC lifted its position in shares of Premier by 6.1% in the third quarter. TIAA CREF Investment Management LLC now owns 1,305,807 shares of the company’s stock worth $59,780,000 after purchasing an additional 74,621 shares in the last quarter. 41.63% of the stock is owned by institutional investors.

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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Analyst Recommendations for Premier (NASDAQ:PINC)

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