Premier Inc (NASDAQ:PINC) insider Leigh Anderson sold 2,273 shares of the business’s stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $44.48, for a total transaction of $101,103.04. Following the transaction, the insider now owns 16,252 shares in the company, valued at $722,888.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
PINC traded up $0.04 during midday trading on Wednesday, reaching $43.92. The company had a trading volume of 665,200 shares, compared to its average volume of 687,564. The stock has a market cap of $5.87 billion, a price-to-earnings ratio of 62.73, a PEG ratio of 1.50 and a beta of 0.54. Premier Inc has a 12-month low of $27.16 and a 12-month high of $45.31.
Premier (NASDAQ:PINC) last released its earnings results on Tuesday, August 21st. The company reported $0.70 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.04. The firm had revenue of $433.96 million for the quarter, compared to analysts’ expectations of $412.24 million. Premier had a net margin of 47.84% and a negative return on equity of 25.18%. The company’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.50 earnings per share. sell-side analysts expect that Premier Inc will post 2.48 EPS for the current year.
PINC has been the topic of several analyst reports. Raymond James boosted their price target on shares of Premier from $37.00 to $49.00 and gave the stock an “in-line” rating in a report on Wednesday, August 22nd. Zacks Investment Research cut shares of Premier from a “buy” rating to a “hold” rating in a report on Saturday, May 12th. Canaccord Genuity boosted their price target on shares of Premier from $38.00 to $42.00 and gave the stock a “hold” rating in a report on Wednesday, August 22nd. Leerink Swann initiated coverage on shares of Premier in a report on Wednesday, June 27th. They set an “outperform” rating and a $45.00 price target on the stock. Finally, Oppenheimer boosted their price target on shares of Premier to $48.00 and gave the stock an “outperform” rating in a report on Tuesday, August 21st. One analyst has rated the stock with a sell rating, eight have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Premier currently has an average rating of “Buy” and an average price target of $40.63.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in PINC. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in Premier in the second quarter valued at about $36,492,000. Summit Trail Advisors LLC boosted its stake in Premier by 4,678.6% in the first quarter. Summit Trail Advisors LLC now owns 1,019,280 shares of the company’s stock valued at $1,019,000 after acquiring an additional 997,950 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Premier by 46.9% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,797,781 shares of the company’s stock valued at $101,783,000 after acquiring an additional 893,451 shares during the last quarter. River Road Asset Management LLC boosted its stake in Premier by 63.2% in the second quarter. River Road Asset Management LLC now owns 2,160,966 shares of the company’s stock valued at $78,616,000 after acquiring an additional 836,502 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Premier by 16.2% in the first quarter. JPMorgan Chase & Co. now owns 4,867,432 shares of the company’s stock valued at $152,400,000 after acquiring an additional 679,358 shares during the last quarter. Hedge funds and other institutional investors own 42.38% of the company’s stock.
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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