Premier (PINC) Receives New Coverage from Analysts at Evercore ISI

Evercore ISI began coverage on shares of Premier (NASDAQ:PINC) in a research note published on Thursday. The firm issued an in-line rating and a $33.50 price objective on the stock.

PINC has been the subject of several other reports. Robert W. Baird reiterated a buy rating and set a $35.00 price objective on shares of Premier in a report on Friday, November 10th. JPMorgan Chase & Co. restated a neutral rating and set a $30.00 target price on shares of Premier in a report on Tuesday, December 19th. KeyCorp restated a buy rating and set a $42.00 target price on shares of Premier in a report on Wednesday, October 4th. Zacks Investment Research upgraded Premier from a sell rating to a hold rating in a report on Tuesday, October 3rd. Finally, Citigroup began coverage on Premier in a report on Thursday, January 4th. They set a neutral rating on the stock. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company’s stock. Premier presently has a consensus rating of Hold and a consensus target price of $36.35.

Shares of Premier (NASDAQ:PINC) traded up $0.39 during trading hours on Thursday, hitting $32.62. The company had a trading volume of 432,747 shares, compared to its average volume of 563,547. Premier has a twelve month low of $27.16 and a twelve month high of $36.50. The stock has a market capitalization of $4,497.76, a price-to-earnings ratio of -7.79, a price-to-earnings-growth ratio of 1.39 and a beta of 0.40.

Premier (NASDAQ:PINC) last announced its quarterly earnings data on Monday, November 6th. The company reported $0.44 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.05). Premier had a negative return on equity of 18.31% and a net margin of 17.99%. The firm had revenue of $390.56 million for the quarter, compared to analysts’ expectations of $389.56 million. During the same quarter in the prior year, the business posted $0.41 earnings per share. Premier’s revenue was up 24.7% on a year-over-year basis. equities analysts anticipate that Premier will post 1.93 EPS for the current year.

In other Premier news, COO Michael J. Alkire sold 25,000 shares of the firm’s stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $29.90, for a total transaction of $747,500.00. Following the transaction, the chief operating officer now directly owns 180,550 shares in the company, valued at $5,398,445. The transaction was disclosed in a filing with the SEC, which is available through this link. 17.52% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Schwab Charles Investment Management Inc. grew its position in shares of Premier by 10.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 148,579 shares of the company’s stock valued at $5,349,000 after purchasing an additional 13,652 shares during the last quarter. Legal & General Group Plc grew its position in shares of Premier by 10.6% in the second quarter. Legal & General Group Plc now owns 18,922 shares of the company’s stock valued at $681,000 after purchasing an additional 1,819 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of 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 purchasing an additional 384 shares during the last quarter. Swiss National Bank grew its position in shares of Premier by 2.9% in the second quarter. Swiss National Bank now owns 85,012 shares of the company’s stock valued at $3,060,000 after purchasing an additional 2,400 shares during the last quarter. Finally, Schroder Investment Management Group grew its position in shares of Premier by 17.2% in the second quarter. Schroder Investment Management Group now owns 18,471 shares of the company’s stock valued at $664,000 after purchasing an additional 2,706 shares during the last quarter. Institutional investors own 38.36% of the company’s stock.

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About Premier

Premier, Inc is a healthcare improvement company. The Company is uniting an alliance of approximately 3,900 United States hospitals and health systems and approximately 150,000 other providers and 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.

Analyst Recommendations for Premier (NASDAQ:PINC)

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