Svb Leerink Downgrades Premier (PINC) to Market Perform

Svb Leerink cut shares of Premier (NASDAQ:PINC) from an outperform rating to a market perform rating in a research note issued to investors on Wednesday morning, Zacks.com reports. Svb Leerink also issued estimates for Premier’s Q3 2019 earnings at $0.58 EPS, Q4 2019 earnings at $0.58 EPS, FY2019 earnings at $2.39 EPS and Q4 2020 earnings at $0.65 EPS.

Several other brokerages have also recently commented on PINC. Zacks Investment Research upgraded Premier from a sell rating to a hold rating in a research report on Wednesday, December 19th. UBS Group assumed coverage on Premier in a research report on Thursday, January 17th. They set a buy rating and a $45.00 price target for the company. BidaskClub cut Premier from a buy rating to a hold rating in a research report on Wednesday, March 6th. Finally, ValuEngine cut Premier from a buy rating to a hold rating in a research report on Thursday, February 7th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. Premier has a consensus rating of Hold and a consensus price target of $43.70.

Shares of PINC stock opened at $33.57 on Wednesday. The company has a market cap of $4.50 billion, a PE ratio of 47.96, a price-to-earnings-growth ratio of 1.26 and a beta of 0.49. Premier has a 1-year low of $28.81 and a 1-year high of $47.22.

Premier (NASDAQ:PINC) last announced its earnings results on Tuesday, February 5th. The company reported $0.66 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.08. The business had revenue of $421.86 million during the quarter, compared to the consensus estimate of $417.09 million. Premier had a negative return on equity of 25.06% and a net margin of 21.63%. The business’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.50 EPS. Research analysts anticipate that Premier will post 2.43 earnings per share for the current year.

In other Premier news, insider Leigh Anderson sold 11,381 shares of the company’s stock in a transaction on Wednesday, January 16th. The stock was sold at an average price of $40.00, for a total value of $455,240.00. Following the completion of the sale, the insider now directly owns 20,032 shares in the company, valued at approximately $801,280. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP David Alfred Hargraves sold 10,436 shares of the company’s stock in a transaction on Wednesday, January 16th. The shares were sold at an average price of $39.95, for a total value of $416,918.20. Following the completion of the sale, the senior vice president now owns 14,829 shares of the company’s stock, valued at $592,418.55. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 75,550 shares of company stock valued at $2,887,406. 18.30% of the stock is owned by company insiders.

A number of large investors have recently modified their holdings of PINC. Cutler Group LP grew its holdings in shares of Premier by 98.0% during the 4th quarter. Cutler Group LP now owns 792 shares of the company’s stock worth $29,000 after purchasing an additional 392 shares during the period. CENTRAL TRUST Co grew its holdings in shares of Premier by 15.4% during the 4th quarter. CENTRAL TRUST Co now owns 3,775 shares of the company’s stock worth $141,000 after purchasing an additional 505 shares during the period. Csenge Advisory Group purchased a new position in shares of Premier during the 3rd quarter worth $25,000. California State Teachers Retirement System grew its holdings in shares of Premier by 0.8% during the 4th quarter. California State Teachers Retirement System now owns 84,179 shares of the company’s stock worth $3,144,000 after purchasing an additional 658 shares during the period. Finally, Strs Ohio grew its holdings in shares of Premier by 5.1% during the 4th quarter. Strs Ohio now owns 14,967 shares of the company’s stock worth $559,000 after purchasing an additional 728 shares during the period. Institutional investors own 48.15% 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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