Premier (NASDAQ:PINC) was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research note issued on Saturday.
Separately, Zacks Investment Research raised shares of Premier from a “sell” rating to a “hold” rating in a research report on Wednesday, December 19th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $45.00.
PINC opened at $36.78 on Friday. The firm has a market capitalization of $4.93 billion, a P/E ratio of 52.54, a P/E/G ratio of 1.38 and a beta of 0.50. Premier has a 12 month low of $28.81 and a 12 month high of $47.22.
Premier (NASDAQ:PINC) last posted its quarterly earnings data on Tuesday, February 5th. The company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.58 by $0.08. The business had revenue of $421.86 million for the quarter, compared to analysts’ expectations of $417.09 million. Premier had a net margin of 21.63% and a negative return on equity of 25.06%. The firm’s revenue was up 2.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.50 EPS. On average, equities analysts predict that Premier will post 2.44 earnings per share for the current fiscal year.
In other Premier news, insider Craig S. Mckasson sold 50,000 shares of the business’s stock in a transaction dated Friday, February 15th. The shares were sold at an average price of $37.55, for a total transaction of $1,877,500.00. Following the sale, the insider now directly owns 135,709 shares of the company’s stock, valued at approximately $5,095,872.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel David L. Klatsky sold 12,048 shares of the business’s stock in a transaction dated Monday, December 31st. The stock was sold at an average price of $36.81, for a total transaction of $443,486.88. The disclosure for this sale can be found here. Insiders have sold a total of 140,781 shares of company stock worth $5,325,019 over the last three months. Insiders own 18.30% of the company’s stock.
Large investors have recently modified their holdings of the business. LPL Financial LLC bought a new stake in Premier during the 3rd quarter worth about $203,000. Sawgrass Asset Management LLC bought a new stake in Premier during the 3rd quarter worth about $605,000. First Republic Investment Management Inc. lifted its position in Premier by 12.2% during the 3rd quarter. First Republic Investment Management Inc. now owns 18,164 shares of the company’s stock worth $832,000 after buying an additional 1,971 shares in the last quarter. O Shaughnessy Asset Management LLC bought a new stake in Premier during the 3rd quarter worth about $314,000. Finally, Teachers Advisors LLC lifted its position in Premier by 3.2% during the 3rd quarter. Teachers Advisors LLC now owns 149,697 shares of the company’s stock worth $6,853,000 after buying an additional 4,598 shares in the last quarter. 43.46% 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.
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