Premier Inc. (PINC) Downgraded to “Hold” at Zacks Investment Research
Premier Inc. (NASDAQ:PINC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Tuesday.
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 equities analysts also recently commented on PINC. Credit Suisse Group AG started coverage on shares of Premier in a research note on Friday, August 5th. They issued an “outperform” rating and a $39.00 target price on the stock. Evercore ISI downgraded shares of Premier from a “buy” rating to a “hold” rating and dropped their target price for the stock from $36.50 to $34.00 in a research note on Tuesday, August 23rd. Barclays PLC dropped their target price 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. Citigroup Inc. upped their target price on shares of Premier from $38.00 to $40.00 and gave the stock a “buy” rating in a research note on Tuesday, August 23rd. Finally, Robert W. Baird dropped their price objective on shares of Premier from $41.00 to $39.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 23rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $37.33.
Premier (NASDAQ:PINC) opened at 29.75 on Tuesday. Premier has a one year low of $28.27 and a one year high of $37.00. The company has a 50-day moving average of $31.43 and a 200-day moving average of $32.18. The stock has a market capitalization of $1.49 billion, a price-to-earnings ratio of 22.05 and a beta of 0.55.
Premier (NASDAQ:PINC) last issued its earnings results on Monday, November 7th. The company reported $0.41 EPS for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.01. The business had revenue of $313.30 million for the quarter, compared to the consensus estimate of $319.09 million. Premier had a net margin of 34.65% and a negative return on equity of 9.50%. The company’s revenue for the quarter was up 15.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.38 EPS. On average, equities analysts forecast that Premier will post $1.80 EPS for the current fiscal year.
In related news, Director Stephen R. D’arcy purchased 4,000 shares of the firm’s stock in a transaction on Thursday, August 25th. The stock was acquired at an average price of $30.91 per share, with a total value of $123,640.00. Following the completion of the acquisition, the director now owns 14,042 shares in the company, valued at approximately $434,038.22. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP R. Wesley Champion sold 7,108 shares of the firm’s 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. 17.14% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Acrospire Investment Management LLC boosted its position in Premier by 4.3% in the third quarter. Acrospire Investment Management LLC now owns 4,900 shares of the company’s stock worth $158,000 after buying an additional 200 shares in the last quarter. Pacer Advisors Inc. boosted its position in 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 in the last quarter. Mackenzie Financial Corp boosted its position in Premier by 0.9% in the second quarter. Mackenzie Financial Corp now owns 47,428 shares of the company’s stock worth $1,551,000 after buying an additional 400 shares in the last quarter. BOKF NA boosted its position in 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 in the last quarter. Finally, Calvert Investment Management Inc. boosted its position in Premier by 6.4% in the second quarter. Calvert Investment Management Inc. now owns 8,516 shares of the company’s stock worth $278,000 after buying an additional 509 shares in the last quarter. 97.94% of the stock is owned by institutional investors and hedge funds.
Premier Company Profile
Premier, Inc is a healthcare improvement company. The Company is uniting an alliance of approximately 3,750 United States hospitals and more than 130,000 other provider organizations 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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