Premier’s (PINC) “Ourperform” Rating Reiterated at William Blair
William Blair reaffirmed their ourperform rating on shares of Premier, Inc. (NASDAQ:PINC) in a research note issued to investors on Tuesday. William Blair also issued estimates for Premier’s FY2018 earnings at $1.90 EPS.
A number of other research analysts also recently weighed in on PINC. Zacks Investment Research downgraded shares of Premier from a buy rating to a hold rating in a report on Friday, May 12th. UBS AG reiterated a neutral rating and issued a $35.00 target price (up previously from $34.00) on shares of Premier in a report on Thursday, May 25th. Bank of America Corporation lifted their target price on shares of Premier from $37.00 to $39.00 and gave the stock a buy rating in a report on Thursday, May 25th. BidaskClub downgraded shares of Premier from a hold rating to a sell rating in a report on Monday, July 31st. Finally, Jefferies Group LLC reiterated a buy rating and issued a $40.00 target price on shares of Premier in a report on Wednesday, August 9th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $38.38.
Shares of Premier (NASDAQ:PINC) opened at 33.07 on Tuesday. The firm has a market cap of $1.71 billion, a PE ratio of 15.59 and a beta of 0.46. Premier has a 1-year low of $28.27 and a 1-year high of $36.50. The firm’s 50-day moving average price is $34.58 and its 200 day moving average price is $33.49.
Premier (NASDAQ:PINC) last released its quarterly earnings results on Monday, August 21st. The company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by $0.02. The business had revenue of $403.10 million for the quarter, compared to the consensus estimate of $400.45 million. Premier had a net margin of 0.66% and a negative return on equity of 16.61%. The firm’s revenue for the quarter was up 33.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.36 EPS. On average, equities research analysts forecast that Premier will post $2.06 EPS for the current fiscal year.
In other Premier news, COO Michael J. Alkire sold 50,000 shares of the firm’s stock in a transaction on Monday, June 12th. The shares were sold at an average price of $35.17, for a total value of $1,758,500.00. Following the sale, the chief operating officer now directly owns 188,708 shares in the company, valued at approximately $6,636,860.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Susan D. Devore sold 40,000 shares of the firm’s stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $35.24, for a total transaction of $1,409,600.00. Following the completion of the sale, the chief executive officer now owns 391,589 shares in the company, valued at $13,799,596.36. The disclosure for this sale can be found here. Insiders sold a total of 184,710 shares of company stock worth $6,476,796 over the last 90 days. Company insiders own 17.14% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Premier by 13.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,185 shares of the company’s stock valued at $115,000 after buying an additional 384 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in Premier by 4.2% in the first quarter. PNC Financial Services Group Inc. now owns 3,664 shares of the company’s stock valued at $117,000 after buying an additional 149 shares in the last quarter. Advisors Asset Management Inc. raised its stake in Premier by 49.8% in the first quarter. Advisors Asset Management Inc. now owns 4,389 shares of the company’s stock valued at $140,000 after buying an additional 1,459 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in Premier by 7.8% in the second quarter. The Manufacturers Life Insurance Company now owns 4,373 shares of the company’s stock valued at $157,000 after buying an additional 315 shares in the last quarter. Finally, Investment Counselors of Maryland LLC bought a new stake in Premier during the first quarter valued at about $166,000.
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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