Premier Inc (NASDAQ:PINC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday, May 12th.
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. “
Several other research firms have also issued reports on PINC. Canaccord Genuity restated a “buy” rating and issued a $40.00 target price on shares of Premier in a report on Friday, January 13th. Bank of America Corp upgraded shares of Premier from an “underperform” rating to a “buy” rating and set a $37.00 target price for the company in a report on Tuesday, March 28th. Oppenheimer Holdings Inc. set a $40.00 target price on shares of Premier and gave the stock a “buy” rating in a report on Tuesday, February 7th. William Blair restated an “outperform” rating on shares of Premier in a report on Tuesday, February 7th. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $40.00 price objective on shares of Premier in a report on Thursday, April 13th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have issued a buy rating to the stock. Premier has a consensus rating of “Buy” and a consensus price target of $38.55.
Premier (PINC) opened at 35.37 on Friday. Premier has a 52 week low of $28.27 and a 52 week high of $35.65. The stock’s 50 day moving average is $34.05 and its 200 day moving average is $31.93. The company has a market capitalization of $1.83 billion, a P/E ratio of 16.68 and a beta of 0.50. Premier (NASDAQ:PINC) last released its earnings results on Monday, May 8th. The company reported $0.52 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.05. The firm had revenue of $379.80 million during the quarter, compared to analyst estimates of $401.71 million. Premier had a net margin of 63.27% and a negative return on equity of 11.92%. The business’s revenue was up 27.2% on a year-over-year basis. During the same quarter last year, the business earned $0.44 EPS. On average, equities research analysts expect that Premier will post $1.91 earnings per share for the current year.
In other news, insider Craig S. Mckasson sold 10,750 shares of the business’s stock in a transaction dated Monday, March 13th. The shares were sold at an average price of $30.56, for a total value of $328,520.00. Following the completion of the sale, the insider now owns 85,255 shares in the company, valued at approximately $2,605,392.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Kelli L. Price sold 10,000 shares of the business’s stock in a transaction dated Wednesday, March 15th. The shares were sold at an average price of $30.80, for a total transaction of $308,000.00. Following the completion of the sale, the vice president now owns 13,191 shares of the company’s stock, valued at approximately $406,282.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 31,500 shares of company stock valued at $1,011,050. Company insiders own 17.14% of the company’s stock. Hedge funds and other institutional investors have recently modified their holdings of the company. PNC Financial Services Group Inc. increased its position in shares of Premier by 4.2% in the first quarter. PNC Financial Services Group Inc. now owns 3,664 shares of the company’s stock worth $117,000 after buying an additional 149 shares during the last quarter. Advisors Asset Management Inc. increased its position in shares of Premier by 49.8% in the first quarter. Advisors Asset Management Inc. now owns 4,389 shares of the company’s stock worth $140,000 after buying an additional 1,459 shares during the last quarter. Pacer Advisors Inc. increased its position in shares of Premier by 7.4% in the third quarter. Pacer Advisors Inc. now owns 5,148 shares of the company’s stock worth $166,000 after buying an additional 354 shares during the last quarter. Investment Counselors of Maryland LLC purchased a new position in shares of Premier during the first quarter worth about $166,000. Finally, BOKF NA increased its position in shares of Premier by 6.3% in the third quarter. BOKF NA now owns 7,115 shares of the company’s stock worth $230,000 after buying an additional 420 shares during the last quarter. 96.70% of the stock is currently owned by hedge funds and other institutional investors.
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