BidaskClub cut shares of Premier, Inc. (NASDAQ:PINC) from a sell rating to a strong sell rating in a research note released on Wednesday.
PINC has been the topic of a number of other research reports. Jefferies Group LLC reiterated a buy rating and set a $40.00 target price on shares of Premier in a report on Wednesday, August 9th. Zacks Investment Research cut Premier from a buy rating to a hold rating in a report on Friday, May 12th. Piper Jaffray Companies restated a hold rating on shares of Premier in a report on Tuesday. William Blair restated an ourperform rating on shares of Premier in a report on Tuesday. Finally, Bank of America Corporation increased their target price on Premier from $37.00 to $39.00 and gave the stock a buy rating in a research report on Thursday, May 25th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $38.38.
Premier (NASDAQ:PINC) traded down 0.51% during mid-day trading on Wednesday, reaching $32.90. The company had a trading volume of 559,745 shares. Premier 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 price-to-earnings ratio of 21.79 and a beta of 0.46. The stock has a 50 day moving average of $34.51 and a 200 day moving average of $33.49.
Premier (NASDAQ:PINC) last announced its earnings results on Monday, August 21st. The company reported $0.50 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%. Premier’s quarterly revenue was up 33.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.36 EPS. Analysts anticipate that Premier will post $2.06 earnings per share for the current year.
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In other Premier news, COO Michael J. Alkire sold 25,000 shares of the company’s stock in a transaction 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 of the company’s stock, valued at $6,956,794.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Susan D. Devore sold 40,000 shares of the company’s stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $35.24, for a total value of $1,409,600.00. Following the completion of the transaction, the chief executive officer now directly owns 391,589 shares in the company, valued at approximately $13,799,596.36. The disclosure for this sale can be found here. In the last three months, insiders have sold 209,710 shares of company stock worth $7,308,296. 17.14% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Premier by 13.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,185 shares of the company’s stock valued at $115,000 after buying an additional 384 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in Premier by 4.2% in the first quarter. PNC Financial Services Group Inc. now owns 3,664 shares of the company’s stock valued at $117,000 after buying an additional 149 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in Premier by 7.8% in the second quarter. The Manufacturers Life Insurance Company now owns 4,373 shares of the company’s stock valued at $157,000 after buying an additional 315 shares in the last quarter. Advisors Asset Management Inc. boosted its position in Premier by 49.8% in the first quarter. Advisors Asset Management Inc. now owns 4,389 shares of the company’s stock valued at $140,000 after buying an additional 1,459 shares in the last quarter. Finally, Investment Counselors of Maryland LLC bought a new position in Premier during the first quarter valued at about $166,000.
Premier Company Profile
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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