BidaskClub Upgrades Premier (PINC) to Hold

Premier (NASDAQ:PINC) was upgraded by equities research analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued on Tuesday, January 23rd.

Several other equities research analysts also recently issued reports on PINC. Zacks Investment Research raised Premier from a “sell” rating to a “hold” rating in a research note on Tuesday, October 3rd. KeyCorp reissued a “buy” rating and issued a $42.00 price objective on shares of Premier in a research note on Wednesday, October 4th. Robert W. Baird reissued a “buy” rating and issued a $35.00 price objective on shares of Premier in a research note on Friday, November 10th. SunTrust Banks reduced their price objective on Premier to $36.00 and set a “buy” rating for the company in a research note on Friday, November 17th. Finally, Oppenheimer reaffirmed a “buy” rating and set a $40.00 price target on shares of Premier in a research note on Thursday, December 7th. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $36.71.

Shares of Premier (NASDAQ:PINC) traded up $0.24 during trading on Tuesday, reaching $31.44. The company had a trading volume of 702,064 shares, compared to its average volume of 803,989. The stock has a market cap of $4,308.19, a P/E ratio of -9.64, a P/E/G ratio of 1.26 and a beta of 0.50. The company has a debt-to-equity ratio of -0.01, a quick ratio of 0.71 and a current ratio of 0.83. Premier has a 1 year low of $27.16 and a 1 year high of $36.50.

Premier (NASDAQ:PINC) last announced its quarterly earnings data on Monday, February 5th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.02. The firm had revenue of $411.40 million during the quarter, compared to the consensus estimate of $393.35 million. Premier had a negative return on equity of 19.94% and a net margin of 14.14%. The business’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.46 EPS. research analysts forecast that Premier will post 2.11 earnings per share for the current year.

In other news, Director Stephen R. D’arcy sold 3,967 shares of the stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $31.72, for a total transaction of $125,833.24. Following the transaction, the director now owns 11,233 shares of the company’s stock, valued at approximately $356,310.76. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 17.52% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of PINC. State of Alaska Department of Revenue acquired a new stake in Premier in the 4th quarter valued at approximately $124,000. The Manufacturers Life Insurance Company grew its holdings in Premier by 7.8% in the 2nd 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 during the last quarter. PNC Financial Services Group Inc. grew its holdings in Premier by 30.9% in the 2nd quarter. PNC Financial Services Group Inc. now owns 4,796 shares of the company’s stock valued at $173,000 after buying an additional 1,132 shares during the last quarter. American Century Companies Inc. acquired a new stake in Premier in the 4th quarter valued at approximately $243,000. Finally, Suntrust Banks Inc. acquired a new stake in Premier in the 2nd quarter valued at approximately $276,000. 39.60% 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.

Analyst Recommendations for Premier (NASDAQ:PINC)

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