Premier Inc (NASDAQ:PINC) has been assigned a consensus rating of “Hold” from the fourteen brokerages that are presently covering the company, MarketBeat Ratings reports. Eleven investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $40.25.
A number of equities analysts have issued reports on PINC shares. BidaskClub upgraded shares of Premier from a “sell” rating to a “hold” rating in a research report on Wednesday, October 23rd. Evercore ISI reaffirmed a “hold” rating on shares of Premier in a research note on Monday, November 11th. ValuEngine raised shares of Premier from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Piper Jaffray Companies reaffirmed a “hold” rating on shares of Premier in a research note on Thursday, August 22nd. Finally, Jefferies Financial Group set a $43.00 target price on shares of Premier and gave the company a “buy” rating in a research note on Thursday, September 26th.
In other news, CFO Craig S. Mckasson sold 2,287 shares of Premier stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $37.00, for a total transaction of $84,619.00. Following the sale, the chief financial officer now owns 117,058 shares of the company’s stock, valued at approximately $4,331,146. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Craig S. Mckasson sold 84,366 shares of Premier stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $37.61, for a total transaction of $3,173,005.26. Following the sale, the chief financial officer now directly owns 166,284 shares in the company, valued at approximately $6,253,941.24. The disclosure for this sale can be found here. Insiders have sold a total of 96,987 shares of company stock worth $3,640,103 in the last ninety days. Insiders own 17.67% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in PINC. Man Group plc boosted its stake in Premier by 60.7% during the third quarter. Man Group plc now owns 442,292 shares of the company’s stock worth $12,791,000 after acquiring an additional 167,102 shares in the last quarter. Squarepoint Ops LLC boosted its stake in Premier by 767.9% during the third quarter. Squarepoint Ops LLC now owns 47,736 shares of the company’s stock worth $1,381,000 after acquiring an additional 42,236 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in Premier during the third quarter worth about $975,000. Redwood Investment Management LLC boosted its stake in Premier by 36.6% during the third quarter. Redwood Investment Management LLC now owns 22,250 shares of the company’s stock worth $643,000 after acquiring an additional 5,966 shares in the last quarter. Finally, Stifel Financial Corp boosted its stake in Premier by 22.3% during the third quarter. Stifel Financial Corp now owns 15,960 shares of the company’s stock worth $462,000 after acquiring an additional 2,906 shares in the last quarter. 54.06% of the stock is currently owned by hedge funds and other institutional investors.
PINC stock opened at $38.58 on Wednesday. The firm’s 50-day moving average price is $36.05 and its two-hundred day moving average price is $36.34. Premier has a 12-month low of $27.37 and a 12-month high of $42.00. The stock has a market capitalization of $4.77 billion, a price-to-earnings ratio of 17.00, a PEG ratio of 1.36 and a beta of 0.37.
Premier (NASDAQ:PINC) last released its quarterly earnings data on Tuesday, November 5th. The company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.02. Premier had a net margin of 17.74% and a negative return on equity of 51.84%. The firm had revenue of $302.40 million for the quarter, compared to analysts’ expectations of $295.50 million. During the same quarter in the previous year, the company earned $0.65 earnings per share. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. On average, research analysts expect that Premier will post 2.67 EPS for the current fiscal year.
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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