Premier, Inc. (PINC) Earns “Buy” Rating from KeyCorp
A number of other research analysts have also recently weighed in on the stock. Zacks Investment Research upgraded shares of Premier from a sell rating to a hold rating in a research note on Tuesday, October 3rd. BidaskClub cut shares of Premier from a sell rating to a strong sell rating in a research note on Wednesday, August 23rd. Piper Jaffray Companies restated a hold rating on shares of Premier in a research note on Tuesday, August 22nd. William Blair restated an ourperform rating on shares of Premier in a research note on Tuesday, August 22nd. Finally, Jefferies Group LLC restated a buy rating and set a $40.00 target price on shares of Premier in a research note on Wednesday, August 9th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company. Premier has an average rating of Hold and an average target price of $39.29.
Premier (PINC) traded down 0.89% during midday trading on Wednesday, hitting $34.50. The company’s stock had a trading volume of 833,953 shares. Premier has a 12 month low of $28.27 and a 12 month high of $36.50. The company’s 50 day moving average price is $33.03 and its 200 day moving average price is $33.86. The firm has a market cap of $1.84 billion, a P/E ratio of 22.85 and a beta of 0.46.
Premier (NASDAQ:PINC) last released its 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). Premier had a net margin of 0.66% and a negative return on equity of 16.27%. The firm had revenue of $403.10 million for the quarter, compared to analysts’ expectations of $400.45 million. During the same quarter last year, the firm posted $0.36 EPS. The firm’s quarterly revenue was up 33.7% compared to the same quarter last year. Analysts expect that Premier will post $2.04 EPS for the current year.
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In other Premier news, insider Craig S. Mckasson sold 10,750 shares of the business’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $33.55, for a total value of $360,662.50. Following the sale, the insider now owns 88,688 shares in the company, valued at approximately $2,975,482.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Leigh Anderson sold 2,264 shares of the business’s stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $32.73, for a total transaction of $74,100.72. Following the completion of the sale, the senior vice president now owns 14,654 shares in the company, valued at approximately $479,625.42. The disclosure for this sale can be found here. In the last quarter, insiders sold 78,014 shares of company stock worth $2,575,863. Corporate insiders own 17.14% of the company’s stock.
A number of hedge funds have recently made changes to their positions in PINC. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Premier by 13.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,185 shares of the company’s stock worth $115,000 after purchasing an additional 384 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in Premier by 4.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,664 shares of the company’s stock worth $117,000 after purchasing an additional 149 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in Premier by 7.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,373 shares of the company’s stock worth $157,000 after purchasing an additional 315 shares in the last quarter. Advisors Asset Management Inc. lifted its stake in Premier by 1.6% in the 2nd quarter. Advisors Asset Management Inc. now owns 4,461 shares of the company’s stock worth $161,000 after purchasing an additional 72 shares in the last quarter. Finally, Pacer Advisors Inc. lifted its stake in Premier by 13.5% in the 1st quarter. Pacer Advisors Inc. now owns 6,652 shares of the company’s stock worth $212,000 after purchasing an additional 791 shares in the last quarter. Institutional investors and hedge funds own 37.75% 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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