Shares of Premier Inc (NASDAQ:PINC) have received a consensus rating of “Buy” from the eighteen research firms that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, eight have given a hold recommendation, eight have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $41.46.
PINC has been the topic of several analyst reports. Piper Jaffray Companies lifted their target price on shares of Premier from $32.00 to $40.00 and gave the company a “neutral” rating in a report on Tuesday, August 21st. Raymond James lifted their target price on shares of Premier from $37.00 to $49.00 and gave the company an “in-line” rating in a report on Wednesday, August 22nd. Barclays initiated coverage on shares of Premier in a report on Tuesday, September 25th. They issued an “overweight” rating on the stock. SunTrust Banks downgraded shares of Premier from a “buy” rating to a “hold” rating and set a $38.00 target price on the stock. in a report on Wednesday, August 22nd. They noted that the move was a valuation call. Finally, ValuEngine raised shares of Premier from a “hold” rating to a “buy” rating in a report on Wednesday, August 22nd.
NASDAQ PINC traded down $0.37 during trading on Friday, reaching $38.67. The company’s stock had a trading volume of 1,161,240 shares, compared to its average volume of 705,534. The firm has a market cap of $5.21 billion, a PE ratio of 55.24, a P/E/G ratio of 1.36 and a beta of 0.50. Premier has a twelve month low of $28.59 and a twelve month high of $47.22.
Premier (NASDAQ:PINC) last posted its quarterly earnings data on Tuesday, November 6th. The company reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.05. The company had revenue of $401.60 million for the quarter, compared to analyst estimates of $412.79 million. Premier had a net margin of 32.31% and a negative return on equity of 23.61%. Premier’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.44 earnings per share. Research analysts anticipate that Premier will post 2.46 EPS for the current year.
In related news, insider Leigh Anderson sold 1,923 shares of the business’s stock in a transaction dated Monday, September 17th. The shares were sold at an average price of $43.26, for a total transaction of $83,188.98. Following the sale, the insider now owns 20,076 shares of the company’s stock, valued at $868,487.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP David Alfred Hargraves sold 2,210 shares of the business’s stock in a transaction dated Tuesday, October 2nd. The stock was sold at an average price of $45.58, for a total transaction of $100,731.80. Following the sale, the senior vice president now directly owns 11,108 shares in the company, valued at approximately $506,302.64. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,648 shares of company stock worth $440,955. Insiders own 18.30% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Fort L.P. purchased a new stake in Premier during the second quarter worth about $123,000. CENTRAL TRUST Co boosted its holdings in Premier by 195.9% during the third quarter. CENTRAL TRUST Co now owns 3,270 shares of the company’s stock worth $150,000 after buying an additional 2,165 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in Premier by 41.5% during the second quarter. PNC Financial Services Group Inc. now owns 5,034 shares of the company’s stock worth $184,000 after buying an additional 1,477 shares in the last quarter. LPL Financial LLC purchased a new stake in Premier during the third quarter worth about $203,000. Finally, Ibex Investors LLC purchased a new stake in Premier during the third quarter worth about $215,000. 41.63% of the stock is currently owned by hedge funds and other institutional investors.
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.
See Also: Diversification
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