BidaskClub cut shares of Premier (NASDAQ:PINC) from a hold rating to a sell rating in a report published on Thursday.
PINC has been the topic of several other research reports. Zacks Investment Research upgraded shares of Premier from a hold rating to a buy rating and set a $33.00 price target on the stock in a report on Wednesday, January 10th. Citigroup initiated coverage on shares of Premier in a research note on Thursday, January 4th. They set a neutral rating on the stock. Cowen initiated coverage on shares of Premier in a research note on Tuesday, February 13th. They set a market perform rating and a $35.00 price objective on the stock. Evercore ISI initiated coverage on shares of Premier in a research note on Thursday, January 18th. They set an in-line rating and a $33.50 price objective on the stock. Finally, JPMorgan Chase reaffirmed a neutral rating and set a $30.00 price objective on shares of Premier in a research note on Tuesday, December 19th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the stock. The company has an average rating of Hold and a consensus price target of $36.71.
Shares of NASDAQ:PINC opened at $30.60 on Thursday. Premier has a twelve month low of $27.16 and a twelve month high of $36.50. The company has a debt-to-equity ratio of -0.01, a quick ratio of 0.71 and a current ratio of 0.83. The company has a market capitalization of $4,203.71, a P/E ratio of 19.01, a price-to-earnings-growth ratio of 1.19 and a beta of 0.49.
Premier (NASDAQ:PINC) last issued its quarterly earnings results on Monday, February 5th. The company reported $0.50 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.02. Premier had a net margin of 14.14% and a negative return on equity of 19.94%. The company had revenue of $411.40 million for the quarter, compared to the consensus estimate of $393.35 million. During the same quarter in the prior year, the company earned $0.46 EPS. Premier’s quarterly revenue was up 14.8% on a year-over-year basis. analysts forecast that Premier will post 2.11 earnings per share for the current year.
In related news, VP Kelli L. Price sold 4,000 shares of Premier stock in a transaction on Wednesday, March 14th. The shares were sold at an average price of $34.33, for a total value of $137,320.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Leigh Anderson sold 1,177 shares of Premier stock in a transaction on Friday, March 23rd. The shares were sold at an average price of $31.85, for a total transaction of $37,487.45. Following the completion of the sale, the senior vice president now directly owns 10,784 shares in the company, valued at approximately $343,470.40. The disclosure for this sale can be found here. Insiders have sold a total of 55,394 shares of company stock worth $1,815,003 in the last ninety days. Corporate insiders own 17.52% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. TimesSquare Capital Management LLC grew its stake in Premier by 7.1% in the 4th quarter. TimesSquare Capital Management LLC now owns 2,907,500 shares of the company’s stock valued at $84,870,000 after acquiring an additional 191,800 shares during the period. BlackRock Inc. grew its stake in Premier by 6.7% in the 4th quarter. BlackRock Inc. now owns 2,614,627 shares of the company’s stock valued at $76,321,000 after acquiring an additional 164,968 shares during the period. River Road Asset Management LLC grew its stake in Premier by 10.2% in the 4th quarter. River Road Asset Management LLC now owns 1,410,267 shares of the company’s stock valued at $41,166,000 after acquiring an additional 130,432 shares during the period. APG Asset Management N.V. grew its stake in 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 acquiring an additional 837,800 shares during the period. Finally, Jennison Associates LLC grew its stake in Premier by 24.6% in the 4th quarter. Jennison Associates LLC now owns 1,150,468 shares of the company’s stock valued at $33,582,000 after acquiring an additional 227,285 shares during the period. 42.91% of the stock is currently owned by hedge funds and other institutional investors.
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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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