BidaskClub lowered shares of Premier (NASDAQ:PINC) from a hold rating to a sell rating in a report released on Saturday morning, BidAskClub reports.
PINC has been the topic of a number of other reports. Piper Jaffray Companies reaffirmed a hold rating on shares of Premier in a research report on Thursday, August 22nd. Zacks Investment Research raised Premier from a sell rating to a hold rating in a research report on Friday, August 16th. Credit Suisse Group reiterated a neutral rating and issued a $42.00 target price (down previously from $43.00) on shares of Premier in a research note on Tuesday, August 13th. Canaccord Genuity set a $36.00 target price on Premier and gave the company a hold rating in a report on Wednesday, August 21st. Finally, Guggenheim initiated coverage on Premier in a research report on Tuesday, June 18th. They set a neutral rating and a $41.00 price target on the stock. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $41.29.
NASDAQ PINC opened at $34.92 on Friday. The company has a market cap of $4.40 billion, a P/E ratio of 15.38, a P/E/G ratio of 1.24 and a beta of 0.33. Premier has a 12 month low of $31.31 and a 12 month high of $47.22. The company has a 50-day moving average of $37.76 and a 200-day moving average of $36.64.
Premier (NASDAQ:PINC) last released its earnings results on Tuesday, August 20th. The company reported $0.57 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by ($0.04). The company had revenue of $316.20 million during the quarter, compared to analyst estimates of $426.69 million. Premier had a negative return on equity of 29.70% and a net margin of 17.30%. Premier’s revenue was up 1.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.70 earnings per share. On average, analysts expect that Premier will post 2.66 EPS for the current fiscal year.
In other Premier news, SVP David Alfred Hargraves sold 1,037 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $37.61, for a total transaction of $39,001.57. Following the completion of the sale, the senior vice president now owns 10,024 shares in the company, valued at approximately $377,002.64. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director William E. Mayer sold 4,000 shares of Premier stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $37.45, for a total value of $149,800.00. Following the sale, the director now owns 13,763 shares in the company, valued at $515,424.35. The disclosure for this sale can be found here. Insiders have sold a total of 10,065 shares of company stock worth $370,969 in the last ninety days. 18.30% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP raised its holdings in Premier by 7.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 888,445 shares of the company’s stock valued at $33,183,000 after acquiring an additional 64,158 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Premier by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 532,345 shares of the company’s stock worth $19,883,000 after acquiring an additional 3,730 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Premier by 214.5% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 34,294 shares of the company’s stock worth $1,183,000 after acquiring an additional 23,390 shares in the last quarter. State Board of Administration of Florida Retirement System increased its holdings in shares of Premier by 63.4% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 30,911 shares of the company’s stock valued at $1,066,000 after acquiring an additional 11,990 shares during the last quarter. Finally, Twin Capital Management Inc. bought a new stake in shares of Premier in the 1st quarter valued at approximately $4,933,000. 49.72% of the stock is currently owned by 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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