Premier, Inc. (NASDAQ:PINC) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a research report issued on Monday.
Several other equities analysts also recently weighed in on the company. Zacks Investment Research downgraded Premier from a “buy” rating to a “hold” rating in a report on Friday, May 12th. Bank of America Corporation raised their price target on Premier from $37.00 to $39.00 and gave the company a “buy” rating in a report on Thursday, May 25th. Jefferies Group LLC restated a “buy” rating and set a $40.00 price target on shares of Premier in a report on Thursday, April 13th. Finally, UBS AG restated a “neutral” rating and set a $35.00 price target (up from $34.00) on shares of Premier in a report on Thursday, May 25th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and twelve have issued a buy rating to the stock. Premier has an average rating of “Buy” and an average price target of $38.25.
Shares of Premier (NASDAQ PINC) opened at 35.19 on Monday. The firm’s 50-day moving average is $35.46 and its 200-day moving average is $33.31. Premier has a 52 week low of $28.27 and a 52 week high of $36.50. The company has a market cap of $1.82 billion, a price-to-earnings ratio of 16.59 and a beta of 0.46.
Premier (NASDAQ:PINC) last issued its quarterly earnings results on Monday, May 8th. The company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.05. Premier had a negative return on equity of 13.95% and a net margin of 31.41%. The firm had revenue of $379.80 million during the quarter, compared to the consensus estimate of $401.71 million. During the same period last year, the company earned $0.44 earnings per share. The company’s revenue was up 27.2% on a year-over-year basis. Equities research analysts predict that Premier will post $1.91 earnings per share for the current year.
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In related news, insider Durral R. Gilbert sold 82,861 shares of Premier stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $35.11, for a total value of $2,909,249.71. Following the completion of the sale, the insider now directly owns 145,261 shares in the company, valued at approximately $5,100,113.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Craig S. Mckasson sold 10,750 shares of Premier stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $34.84, for a total value of $374,530.00. Following the completion of the sale, the insider now owns 74,505 shares of the company’s stock, valued at $2,595,754.20. The disclosure for this sale can be found here. Insiders sold a total of 184,710 shares of company stock valued at $6,490,663 over the last quarter. 17.14% of the stock is owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the company. FMR LLC increased its stake in Premier by 1.2% in the first quarter. FMR LLC now owns 7,605,279 shares of the company’s stock worth $242,076,000 after buying an additional 92,394 shares in the last quarter. Vanguard Group Inc. increased its stake in Premier by 7.9% in the first quarter. Vanguard Group Inc. now owns 4,045,361 shares of the company’s stock worth $128,764,000 after buying an additional 297,758 shares in the last quarter. TimesSquare Capital Management LLC increased its stake in Premier by 1.0% in the first quarter. TimesSquare Capital Management LLC now owns 2,638,000 shares of the company’s stock worth $83,968,000 after buying an additional 27,300 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. increased its stake in Premier by 561.3% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 1,676,451 shares of the company’s stock worth $53,361,000 after buying an additional 1,422,955 shares in the last quarter. Finally, Westwood Holdings Group Inc. increased its stake in Premier by 5.9% in the first quarter. Westwood Holdings Group Inc. now owns 1,351,917 shares of the company’s stock worth $43,032,000 after buying an additional 75,426 shares in the last quarter.
About Premier
Premier, Inc is a healthcare improvement company. The Company is uniting an alliance of approximately 3,750 United States hospitals and more than 130,000 other provider organizations to transform healthcare. The Company operates healthcare group purchasing organizations and also provides integrated data and analytics, supply chain solutions, advisory services, performance improvement collaborative and other services.
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