Premier Inc (PINC) Receives Average Recommendation of “Buy” from Analysts

Premier Inc (NASDAQ:PINC) has earned an average rating of “Buy” from the fourteen ratings firms that are covering the company, Marketbeat.com reports. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $36.35.

PINC has been the subject of a number of recent research reports. BidaskClub upgraded Premier from a “strong sell” rating to a “sell” rating in a research report on Thursday, January 11th. Zacks Investment Research upgraded shares of Premier from a “hold” rating to a “buy” rating and set a $33.00 price target on the stock in a research report on Wednesday, January 10th. Evercore ISI assumed coverage on shares of Premier in a research note on Thursday, January 18th. They set an “in-line” rating and a $33.50 price target on the stock. Oppenheimer restated a “buy” rating and issued a $40.00 price objective on shares of Premier in a report on Thursday, December 7th. Finally, SunTrust Banks cut their price objective on shares of Premier to $36.00 and set a “buy” rating for the company in a research note on Friday, November 17th.

Shares of Premier (NASDAQ:PINC) opened at $32.91 on Friday. Premier has a 12-month low of $27.16 and a 12-month high of $36.50. The firm has a market capitalization of $4,507.53, a PE ratio of -7.85, a price-to-earnings-growth ratio of 1.39 and a beta of 0.50.

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

In related news, COO Michael J. Alkire sold 25,000 shares of the firm’s stock in a transaction that occurred on 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 approximately $5,398,445. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 17.52% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the business. Schwab Charles Investment Management Inc. grew its holdings 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 worth $5,349,000 after purchasing an additional 13,652 shares during the last quarter. Alliancebernstein L.P. raised its holdings in Premier by 2.3% during the 2nd quarter. Alliancebernstein L.P. now owns 32,057 shares of the company’s stock valued at $1,154,000 after buying an additional 708 shares during the last quarter. Ameriprise Financial Inc. boosted its position in Premier by 23.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 184,765 shares of the company’s stock valued at $6,652,000 after buying an additional 35,492 shares during the period. Amalgamated Bank boosted its position in Premier by 40.8% during the 2nd quarter. Amalgamated Bank now owns 9,296 shares of the company’s stock valued at $335,000 after buying an additional 2,696 shares during the period. Finally, PNC Financial Services Group Inc. grew its holdings in Premier by 30.9% in the 2nd quarter. PNC Financial Services Group Inc. now owns 4,796 shares of the company’s stock worth $173,000 after acquiring an additional 1,132 shares during the last quarter. Hedge funds and other institutional investors own 38.77% 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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