Premier, Inc. (NASDAQ:PINC) COO Michael J. Alkire sold 25,000 shares of Premier stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $33.26, for a total value of $831,500.00. Following the transaction, the chief operating officer now owns 209,164 shares in the company, valued at approximately $6,956,794.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Premier, Inc. (PINC) traded down 0.51% during midday trading on Friday, reaching $32.90. The company’s stock had a trading volume of 559,745 shares. The firm’s 50-day moving average price is $34.58 and its 200-day moving average price is $33.49. Premier, Inc. has a 52 week low of $28.27 and a 52 week high of $36.50. The stock has a market capitalization of $1.75 billion, a PE ratio of 21.79 and a beta of 0.46.
Premier (NASDAQ:PINC) last issued its earnings results on Monday, August 21st. The company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by $0.02. The company had revenue of $403.10 million for the quarter, compared to analyst estimates of $400.45 million. Premier had a net margin of 0.66% and a negative return on equity of 16.61%. The company’s quarterly revenue was up 33.7% on a year-over-year basis. During the same period last year, the business earned $0.36 EPS. On average, analysts anticipate that Premier, Inc. will post $2.06 earnings per share for the current year.
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A number of equities analysts recently commented on PINC shares. Zacks Investment Research downgraded Premier from a “buy” rating to a “hold” rating in a research report on Friday, May 12th. Bank of America Corp lifted their price objective on Premier from $37.00 to $39.00 and gave the stock a “buy” rating in a research report on Thursday, May 25th. BidaskClub downgraded Premier from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Jefferies Group LLC reiterated a “buy” rating and set a $40.00 price objective on shares of Premier in a research report on Wednesday, August 9th. Finally, William Blair reiterated an “ourperform” rating on shares of Premier in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $38.38.
Several large investors have recently modified their holdings of the stock. FMR LLC raised its stake in shares of Premier by 2.1% in the second quarter. FMR LLC now owns 7,763,382 shares of the company’s stock worth $279,482,000 after buying an additional 158,103 shares during the period. Vanguard Group Inc. raised its stake in shares of Premier by 7.4% in the second quarter. Vanguard Group Inc. now owns 4,345,748 shares of the company’s stock worth $156,447,000 after buying an additional 300,387 shares during the period. TimesSquare Capital Management LLC raised its stake in shares of 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 during the period. JPMorgan Chase & Co. raised its stake in shares of Premier by 2.5% in the second quarter. JPMorgan Chase & Co. now owns 2,307,387 shares of the company’s stock worth $83,066,000 after buying an additional 57,064 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. raised its stake in shares of 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 during the period.
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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