Premier (PINC) Raised to “Hold” at BidaskClub
BidaskClub upgraded shares of Premier (NASDAQ:PINC) from a sell rating to a hold rating in a research note issued to investors on Saturday.
A number of other brokerages have also issued reports on PINC. Zacks Investment Research lowered shares of Premier from a strong-buy rating to a hold rating in a research report on Wednesday, March 14th. Bank of America started coverage on shares of Premier in a report on Tuesday, February 27th. They issued a buy rating and a $39.00 price target on the stock. Piper Jaffray reissued a hold rating on shares of Premier in a report on Wednesday, February 7th. SunTrust Banks reissued a buy rating and issued a $38.00 price target on shares of Premier in a report on Thursday, February 8th. Finally, Evercore ISI started coverage on shares of Premier in a report on Thursday, January 18th. They issued an in-line rating and a $33.50 price target on the stock. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Premier presently has an average rating of Buy and an average target price of $36.71.
Shares of PINC stock opened at $32.62 on Friday. Premier has a 1 year low of $27.16 and a 1 year high of $36.50. The firm has a market cap of $4,426.24, a P/E ratio of 17.92, a P/E/G ratio of 1.25 and a beta of 0.49. The company has a debt-to-equity ratio of -0.01, a quick ratio of 0.71 and a current ratio of 0.83.
In other news, insider Craig S. Mckasson sold 6,250 shares of the business’s stock in a transaction on Monday, March 12th. The shares were sold at an average price of $34.49, for a total value of $215,562.50. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Stephen R. D’arcy sold 3,967 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $31.72, for a total transaction of $125,833.24. Following the completion of the sale, the director now owns 11,233 shares in the company, valued at approximately $356,310.76. The disclosure for this sale can be found here. Insiders sold a total of 55,394 shares of company stock worth $1,815,003 in the last three months. Insiders own 17.52% of the company’s stock.
Several large investors have recently modified their holdings of PINC. APG Asset Management N.V. boosted its stake in shares of Premier by 214.8% in the 4th quarter. APG Asset Management N.V. now owns 1,227,900 shares of the company’s stock valued at $29,849,000 after purchasing an additional 837,800 shares in the last quarter. Rice Hall James & Associates LLC boosted its stake in shares of Premier by 83.0% in the 4th quarter. Rice Hall James & Associates LLC now owns 1,068,282 shares of the company’s stock valued at $31,183,000 after purchasing an additional 484,433 shares in the last quarter. OppenheimerFunds Inc. acquired a new stake in shares of Premier in the 4th quarter valued at $13,520,000. Peregrine Capital Management LLC acquired a new stake in shares of Premier in the 4th quarter valued at $9,590,000. Finally, Kennedy Capital Management Inc. boosted its stake in shares of Premier by 70.8% in the 4th quarter. Kennedy Capital Management Inc. now owns 721,572 shares of the company’s stock valued at $21,063,000 after purchasing an additional 299,073 shares in the last quarter. Institutional investors own 42.93% of the company’s stock.
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Premier, Inc, together with its subsidiaries, operates as a healthcare improvement company in the United States. The company operates through two segments, Supply Chain Services and Performance Services. The Supply Chain Services segment offers its members with access to a range of products and services, including medical and surgical products, pharmaceuticals, laboratory supplies, capital equipment, information technology, facilities and construction, and food and nutritional products, as well as purchased services, such as clinical engineering and document shredding services and software-as-a-service informatics products.
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