TheStreet Upgrades Premier Inc. (PINC) to Hold
Premier Inc. (NASDAQ:PINC) was upgraded by TheStreet from a “sell” rating to a “hold” rating in a research note issued on Wednesday.
A number of other equities analysts also recently issued reports on the stock. Canaccord Genuity reiterated a “buy” rating and set a $43.00 price objective on shares of Premier in a research note on Tuesday, August 23rd. Credit Suisse Group AG began coverage on shares of Premier in a research note on Friday, August 5th. They set an “outperform” rating and a $39.00 price objective on the stock. Barclays PLC dropped their price objective on shares of Premier from $41.00 to $39.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 23rd. Zacks Investment Research upgraded shares of Premier from a “sell” rating to a “hold” rating in a research note on Wednesday, June 8th. Finally, Citigroup Inc. increased their price objective on shares of Premier from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday, August 23rd. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Premier currently has an average rating of “Buy” and a consensus price target of $38.85.
Shares of Premier (NASDAQ:PINC) opened at 31.72 on Wednesday. The stock has a market capitalization of $1.50 billion, a price-to-earnings ratio of 23.80 and a beta of 0.55. The firm has a 50-day moving average of $31.89 and a 200 day moving average of $32.70. Premier has a one year low of $29.68 and a one year high of $37.24.
Premier (NASDAQ:PINC) last issued its earnings results on Monday, August 22nd. The company reported $0.36 EPS for the quarter, missing the Zacks’ consensus estimate of $0.38 by $0.02. The company earned $301.40 million during the quarter. Premier had a negative return on equity of 8.33% and a net margin of 110.54%. Premier’s quarterly revenue was up 13.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.36 EPS. On average, equities research analysts predict that Premier will post $1.77 EPS for the current year.
In other Premier news, Director Stephen R. D’arcy acquired 4,000 shares of the business’s stock in a transaction dated Thursday, August 25th. The shares were purchased at an average price of $30.91 per share, for a total transaction of $123,640.00. Following the completion of the purchase, the director now directly owns 14,042 shares of the company’s stock, valued at $434,038.22. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP R. Wesley Champion sold 7,108 shares of the stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $31.47, for a total transaction of $223,688.76. The disclosure for this sale can be found here. 17.31% of the stock is currently owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Acrospire Investment Management LLC acquired a new stake in Premier during the first quarter worth $103,000. Meeder Asset Management Inc. purchased a new stake in Premier during the second quarter valued at approximately $105,000. Panagora Asset Management Inc. purchased a new stake in Premier during the second quarter valued at approximately $152,000. Legal & General Group Plc raised its stake in Premier by 62.0% in the second quarter. Legal & General Group Plc now owns 4,775 shares of the company’s stock valued at $156,000 after buying an additional 1,828 shares in the last quarter. Finally, BlackRock Inc. raised its stake in Premier by 282.9% in the first quarter. BlackRock Inc. now owns 4,786 shares of the company’s stock valued at $160,000 after buying an additional 3,536 shares in the last quarter. Hedge funds and other institutional investors own 99.13% of the company’s stock.
Premier, Inc is a healthcare improvement company. The Company is uniting an alliance of approximately 3,600 United States hospitals and approximately 120,000 other providers 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.
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