Zacks Investment Research upgraded shares of Premier (NASDAQ:PINC) from a sell rating to a hold rating in a research report released on Saturday morning.
According to Zacks, “Premier, Inc. operates as a healthcare alliance. The company brings together hospitals, health systems, physicians and other healthcare providers primarily in the United States. It also maintains clinical, financial and outcomes databases. Premier, Inc. is headquartered in Charlotte, North Carolina. “
PINC has been the subject of several other reports. Credit Suisse Group lowered their price objective on Premier from $42.00 to $38.00 and set an outperform rating for the company in a research report on Wednesday, May 9th. ValuEngine lowered Premier from a hold rating to a sell rating in a research report on Tuesday, May 8th. BidaskClub raised Premier from a buy rating to a strong-buy rating in a research report on Wednesday, August 15th. Leerink Swann initiated coverage on Premier in a research report on Wednesday, June 27th. They issued an outperform rating and a $45.00 price objective for the company. Finally, Canaccord Genuity lowered Premier from a buy rating to a hold rating and set a $43.00 price objective for the company. in a research report on Tuesday, August 14th. They noted that the move was a valuation call. Seven analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $38.68.
PINC stock opened at $43.95 on Friday. Premier has a 1-year low of $27.16 and a 1-year high of $45.31. The company has a debt-to-equity ratio of -0.01, a current ratio of 0.77 and a quick ratio of 0.66. The stock has a market capitalization of $5.10 billion, a PE ratio of 27.30, a price-to-earnings-growth ratio of 1.27 and a beta of 0.47.
Premier (NASDAQ:PINC) last posted its quarterly earnings data on Tuesday, August 21st. The company reported $0.70 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.04. Premier had a negative return on equity of 21.96% and a net margin of 23.33%. The firm had revenue of $433.96 million during the quarter, compared to analyst estimates of $412.24 million. During the same period last year, the company posted $0.50 EPS. The business’s quarterly revenue was up 7.7% on a year-over-year basis. analysts expect that Premier will post 2.1 earnings per share for the current year.
In related news, VP Kelli L. Price sold 4,000 shares of the business’s stock in a transaction dated Monday, June 11th. The stock was sold at an average price of $35.00, for a total value of $140,000.00. Following the completion of the sale, the vice president now directly owns 18,678 shares of the company’s stock, valued at approximately $653,730. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 17.52% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in Premier during the 2nd quarter valued at about $36,492,000. Summit Trail Advisors LLC boosted its stake in Premier by 4,678.6% during the 1st quarter. Summit Trail Advisors LLC now owns 1,019,280 shares of the company’s stock valued at $1,019,000 after purchasing an additional 997,950 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Premier by 46.9% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,797,781 shares of the company’s stock valued at $101,783,000 after purchasing an additional 893,451 shares during the last quarter. River Road Asset Management LLC boosted its stake in Premier by 63.2% during the 2nd quarter. River Road Asset Management LLC now owns 2,160,966 shares of the company’s stock valued at $78,616,000 after purchasing an additional 836,502 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Premier by 16.2% during the 1st quarter. JPMorgan Chase & Co. now owns 4,867,432 shares of the company’s stock valued at $152,400,000 after purchasing an additional 679,358 shares during the last quarter. 44.09% of the stock is owned by institutional investors and hedge funds.
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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