Premier (NASDAQ:PINC) was upgraded by stock analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, BidAskClub reports.

PINC has been the subject of several other research reports. Credit Suisse Group restated a “neutral” rating and issued a $42.00 price target (down previously from $43.00) on shares of Premier in a research report on Tuesday, August 13th. Canaccord Genuity upgraded shares of Premier from a “hold” rating to a “buy” rating and set a $36.00 target price for the company in a research report on Tuesday, October 15th. Zacks Investment Research upgraded shares of Premier from a “sell” rating to a “hold” rating in a research report on Friday, August 16th. Jefferies Financial Group set a $43.00 target price on shares of Premier and gave the stock a “buy” rating in a research report on Thursday, September 26th. Finally, Robert W. Baird set a $46.00 target price on shares of Premier and gave the stock a “buy” rating in a research report on Thursday, September 26th. Eight investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Premier presently has a consensus rating of “Hold” and an average target price of $42.00.

Shares of NASDAQ:PINC traded down $0.23 during mid-day trading on Wednesday, hitting $33.63. The stock had a trading volume of 3,802 shares, compared to its average volume of 1,352,384. The company has a market cap of $4.18 billion, a PE ratio of 14.87, a P/E/G ratio of 1.36 and a beta of 0.32. Premier has a 12-month low of $27.37 and a 12-month high of $45.50. The company’s 50 day moving average is $32.51 and its 200-day moving average is $36.04.

Premier (NASDAQ:PINC) last issued its quarterly earnings results on Tuesday, August 20th. The company reported $0.57 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by ($0.04). The firm had revenue of $316.20 million during the quarter, compared to analysts’ expectations of $426.69 million. Premier had a net margin of 17.30% and a negative return on equity of 29.70%. The firm’s revenue was up 1.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.70 EPS. As a group, equities research analysts anticipate that Premier will post 2.66 EPS for the current fiscal year.

In other news, CFO Craig S. Mckasson sold 2,287 shares of the firm’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $37.00, for a total transaction of $84,619.00. Following the transaction, the chief financial officer now owns 117,058 shares in the company, valued at approximately $4,331,146. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William E. Mayer sold 4,000 shares of the firm’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $37.45, for a total transaction of $149,800.00. Following the transaction, the director now owns 13,763 shares in the company, valued at approximately $515,424.35. The disclosure for this sale can be found here. Insiders have sold a total of 11,315 shares of company stock worth $416,586 in the last 90 days. 18.30% of the stock is owned by insiders.

Several institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC raised its holdings in shares of Premier by 20.8% during the 2nd quarter. Renaissance Technologies LLC now owns 3,166,309 shares of the company’s stock valued at $123,834,000 after purchasing an additional 546,200 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Premier by 3.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,405,592 shares of the company’s stock valued at $94,251,000 after buying an additional 77,544 shares during the last quarter. Mackenzie Financial Corp grew its stake in Premier by 141.6% in the 2nd quarter. Mackenzie Financial Corp now owns 1,716,406 shares of the company’s stock valued at $67,129,000 after buying an additional 1,005,871 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in Premier by 4.7% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,137,391 shares of the company’s stock valued at $44,483,000 after buying an additional 51,488 shares during the last quarter. Finally, Teacher Retirement System of Texas grew its stake in Premier by 48.8% in the 2nd quarter. Teacher Retirement System of Texas now owns 1,006,096 shares of the company’s stock valued at $39,348,000 after buying an additional 329,900 shares during the last quarter. Institutional investors and hedge funds own 49.74% of the company’s stock.

Premier Company Profile

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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Analyst Recommendations for Premier (NASDAQ:PINC)

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