Premier (NASDAQ:PINC) has received a consensus recommendation of “Buy” from the sixteen ratings firms that are covering the firm, MarketBeat.com reports. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $37.05.
Several analysts have recently commented on PINC shares. Oppenheimer restated a “buy” rating and issued a $40.00 target price on shares of Premier in a research note on Thursday, December 7th. Bank of America started coverage on shares of Premier in a research note on Tuesday, February 27th. They issued a “buy” rating and a $39.00 target price for the company. Zacks Investment Research upgraded shares of Premier from a “hold” rating to a “buy” rating and set a $33.00 target price for the company in a research note on Wednesday, January 10th. SunTrust Banks restated a “buy” rating and issued a $38.00 target price on shares of Premier in a research note on Thursday, February 8th. Finally, Benchmark initiated coverage on shares of Premier in a report on Thursday, February 8th. They issued a “buy” rating and a $40.00 price target for the company.
Shares of PINC stock traded down $0.54 during mid-day trading on Monday, hitting $30.77. The stock had a trading volume of 387,360 shares, compared to its average volume of 682,053. Premier has a fifty-two week low of $27.16 and a fifty-two week high of $36.50. The stock has a market capitalization of $4,248.48, a PE ratio of 19.11, a price-to-earnings-growth ratio of 1.20 and a beta of 0.49. The company has a debt-to-equity ratio of -0.01, a quick ratio of 0.71 and a current ratio of 0.83.
Premier (NASDAQ:PINC) last released its earnings results on Monday, February 5th. The company reported $0.50 EPS 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 during the quarter, compared to analysts’ expectations of $393.35 million. During the same quarter last year, the business earned $0.46 EPS. The business’s revenue was up 14.8% on a year-over-year basis. equities analysts forecast that Premier will post 2.11 earnings per share for the current fiscal year.
In other Premier news, CEO Susan D. Devore sold 40,000 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $32.47, for a total transaction of $1,298,800.00. Following the completion of the transaction, the chief executive officer now directly owns 373,176 shares in the company, valued at approximately $12,117,024.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Stephen R. D’arcy sold 3,967 shares of the firm’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $31.72, for a total transaction of $125,833.24. Following the transaction, the director now owns 11,233 shares of the company’s stock, valued at $356,310.76. The disclosure for this sale can be found here. Insiders sold a total of 55,394 shares of company stock valued at $1,815,003 in the last quarter. Insiders own 17.52% of the company’s stock.
A number of large investors have recently bought and sold shares of PINC. The Manufacturers Life Insurance Company increased its holdings in Premier by 7.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,373 shares of the company’s stock valued at $157,000 after acquiring an additional 315 shares in the last quarter. BNP Paribas Arbitrage SA grew its holdings in shares of Premier by 5.7% during the third quarter. BNP Paribas Arbitrage SA now owns 37,935 shares of the company’s stock worth $1,236,000 after buying an additional 2,048 shares in the last quarter. Sei Investments Co. grew its holdings in shares of Premier by 37.1% during the third quarter. Sei Investments Co. now owns 41,354 shares of the company’s stock worth $1,347,000 after buying an additional 11,192 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Premier during the third quarter worth about $450,000. Finally, NorthCoast Asset Management LLC grew its holdings in shares of Premier by 44.6% during the third quarter. NorthCoast Asset Management LLC now owns 38,325 shares of the company’s stock worth $1,248,000 after buying an additional 11,814 shares in the last quarter. Hedge funds and other institutional investors own 42.91% of the company’s stock.
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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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