Equities research analysts at Evercore ISI began coverage on shares of Premier (NASDAQ:PINC) in a report released on Thursday. The firm set an “in-line” rating and a $33.50 price target on the stock. Evercore ISI’s target price indicates a potential upside of 2.70% from the company’s previous close.
PINC has been the topic of a number of other research reports. Robert W. Baird reaffirmed a “buy” rating and issued a $35.00 price target on shares of Premier in a report on Friday, November 10th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $30.00 price target on shares of Premier in a report on Tuesday, December 19th. KeyCorp reaffirmed a “buy” rating and issued a $42.00 price target on shares of Premier in a report on Wednesday, October 4th. Zacks Investment Research raised shares of Premier from a “sell” rating to a “hold” rating in a report on Tuesday, October 3rd. Finally, Citigroup started coverage on shares of Premier in a report on Thursday, January 4th. They issued a “neutral” rating on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $36.35.
Premier (NASDAQ PINC) traded up $0.39 during trading hours on Thursday, hitting $32.62. 432,747 shares of the company were exchanged, compared to its average volume of 563,547. The company has a market cap of $4,497.76, a PE ratio of -7.79, a PEG ratio of 1.39 and a beta of 0.40. Premier has a 52 week low of $27.16 and a 52 week high of $36.50.
Premier (NASDAQ:PINC) last posted its quarterly earnings results on Monday, November 6th. The company reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.05). The company had revenue of $390.56 million during the quarter, compared to the consensus estimate of $389.56 million. Premier had a negative return on equity of 18.31% and a net margin of 17.99%. The company’s revenue for the quarter was up 24.7% compared to the same quarter last year. During the same period last year, the firm posted $0.41 EPS. research analysts expect that Premier will post 1.93 EPS for the current fiscal year.
In other Premier news, COO Michael J. Alkire sold 25,000 shares of the business’s stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $29.90, for a total transaction of $747,500.00. Following the sale, the chief operating officer now owns 180,550 shares of the company’s stock, valued at approximately $5,398,445. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 17.52% of the company’s stock.
Hedge funds have recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Premier by 13.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,185 shares of the company’s stock valued at $115,000 after acquiring an additional 384 shares during the period. State of Alaska Department of Revenue bought a new stake in Premier during the 4th quarter valued at $124,000. The Manufacturers Life Insurance Company raised its holdings in Premier by 7.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,373 shares of the company’s stock valued at $157,000 after acquiring an additional 315 shares during the period. PNC Financial Services Group Inc. raised its holdings in Premier by 30.9% during the 2nd quarter. PNC Financial Services Group Inc. now owns 4,796 shares of the company’s stock valued at $173,000 after acquiring an additional 1,132 shares during the period. Finally, Suntrust Banks Inc. bought a new stake in Premier during the 2nd quarter valued at $276,000. 38.36% of the stock is currently owned by institutional investors and hedge funds.
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Premier Company Profile
Premier, Inc is a healthcare improvement company. The Company is uniting an alliance of approximately 3,900 United States hospitals and health systems and approximately 150,000 other providers and 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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