Premier (NASDAQ:PINC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday, Zacks.com reports. The firm presently has a $40.00 target price on the stock. Zacks Investment Research‘s price objective suggests a potential upside of 3.49% from the company’s current price.
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 research analysts have also weighed in on PINC. Jefferies Financial Group set a $43.00 price objective on Premier and gave the stock a “buy” rating in a report on Thursday, September 26th. Robert W. Baird lowered Premier from an “outperform” rating to a “neutral” rating and set a $41.00 price objective on the stock. in a report on Monday, November 11th. ValuEngine raised Premier from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. UBS Group lowered Premier from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $44.00 to $38.00 in a report on Thursday, October 31st. Finally, BidaskClub upgraded Premier from a “sell” rating to a “hold” rating in a research report on Wednesday, October 23rd. Ten research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Premier currently has a consensus rating of “Hold” and an average target price of $40.22.
Premier (NASDAQ:PINC) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $0.68 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.02. Premier had a negative return on equity of 51.84% and a net margin of 17.74%. The firm had revenue of $302.40 million for the quarter, compared to analyst estimates of $295.50 million. During the same quarter in the prior year, the company posted $0.65 earnings per share. Premier’s quarterly revenue was up 3.3% on a year-over-year basis. On average, equities research analysts anticipate that Premier will post 2.67 earnings per share for the current year.
In other Premier news, CFO Craig S. Mckasson sold 84,366 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $37.61, for a total transaction of $3,173,005.26. Following the sale, the chief financial officer now directly owns 166,284 shares in the company, valued at $6,253,941.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Craig S. Mckasson sold 1,985 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $37.02, for a total value of $73,484.70. Following the sale, the chief financial officer now owns 116,071 shares in the company, valued at $4,296,948.42. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 96,987 shares of company stock worth $3,640,103. 17.67% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of PINC. BTIM Corp. boosted its position in Premier by 25.3% during the second quarter. BTIM Corp. now owns 414,253 shares of the company’s stock worth $16,201,000 after purchasing an additional 83,533 shares in the last quarter. Financial Gravity Wealth Inc. lifted its position in shares of Premier by 401.7% in the second quarter. Financial Gravity Wealth Inc. now owns 2,067 shares of the company’s stock valued at $81,000 after acquiring an additional 1,655 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Premier in the second quarter valued at $1,264,000. BNP Paribas Arbitrage SA lifted its position in shares of Premier by 699.0% in the second quarter. BNP Paribas Arbitrage SA now owns 30,442 shares of the company’s stock valued at $1,191,000 after acquiring an additional 26,632 shares in the last quarter. Finally, Boston Advisors LLC lifted its position in shares of Premier by 34.1% in the second quarter. Boston Advisors LLC now owns 32,136 shares of the company’s stock valued at $1,257,000 after acquiring an additional 8,173 shares in the last quarter. Institutional investors own 54.16% of the company’s stock.
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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