Premier Inc. (PINC) Rating Lowered 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 note issued to investors on Thursday.
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 analysts have also weighed in on the company. Bank of America Corp. lowered Premier from a “buy” rating to an “underperform” rating and set a $30.00 price objective on the stock. in a research report on Monday, November 7th. Credit Suisse Group AG reaffirmed a “buy” rating and set a $39.00 price objective on shares of Premier in a research report on Friday, November 4th. JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of Premier in a research report on Friday, October 28th. TheStreet raised Premier from a “sell” rating to a “hold” rating in a research report on Wednesday, September 28th. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $40.00 price objective on shares of Premier in a research report on Sunday, September 11th. One analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $37.08.
Premier (NASDAQ:PINC) opened at 29.98 on Thursday. The company has a 50-day moving average price of $30.93 and a 200-day moving average price of $31.97. Premier has a 52 week low of $28.27 and a 52 week high of $37.00. The stock has a market cap of $1.50 billion, a price-to-earnings ratio of 22.22 and a beta of 0.55.
Premier (NASDAQ:PINC) last posted its quarterly earnings data on Monday, November 7th. The company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.01. Premier had a negative return on equity of 9.50% and a net margin of 34.65%. The business had revenue of $313.30 million for the quarter, compared to analyst estimates of $319.09 million. During the same quarter in the prior year, the company earned $0.38 earnings per share. The company’s revenue was up 15.7% on a year-over-year basis. Equities research analysts anticipate that Premier will post $1.81 EPS for the current year.
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In other news, VP R. Wesley Champion sold 7,108 shares of the stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $31.47, for a total transaction of $223,688.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 17.14% of the company’s stock.
Several large investors have recently made changes to their positions in the company. Meeder Asset Management Inc. acquired a new stake in shares of Premier during the second quarter valued at $105,000. Advisors Asset Management Inc. increased its stake in shares of Premier by 25.0% in the third quarter. Advisors Asset Management Inc. now owns 3,583 shares of the company’s stock valued at $116,000 after buying an additional 717 shares during the period. Bronfman E.L. Rothschild L.P. increased its stake in shares of Premier by 843.8% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 3,577 shares of the company’s stock valued at $116,000 after buying an additional 3,198 shares during the period. The Manufacturers Life Insurance Company acquired a new stake in shares of Premier during the third quarter valued at $132,000. Finally, Panagora Asset Management Inc. acquired a new stake in shares of Premier during the second quarter valued at $152,000. Institutional investors and hedge funds own 89.43% of the company’s stock.
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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