Several other equities research analysts also recently issued reports on PINC. Barclays PLC started coverage on shares of Premier in a research note on Wednesday, June 1st. They set an overweight rating and a $41.00 price target on the stock. Canaccord Genuity reaffirmed a buy rating on shares of Premier in a research note on Wednesday, June 8th. Zacks Investment Research raised shares of Premier from a sell rating to a hold rating in a research note on Wednesday, June 8th. Credit Suisse Group AG started coverage on shares of Premier in a research note on Friday, August 5th. They set an outperform rating and a $39.00 price target on the stock. Finally, Evercore ISI downgraded shares of Premier from a buy rating to a hold rating and dropped their price target for the stock from $36.50 to $34.00 in a research note on Tuesday, August 23rd. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The company presently has an average rating of Buy and a consensus target price of $38.85.
Shares of Premier (NASDAQ:PINC) traded up 0.06% on Wednesday, hitting $31.72. The stock had a trading volume of 407,194 shares. The stock has a market cap of $1.50 billion, a PE ratio of 23.80 and a beta of 0.55. The company’s 50 day moving average is $31.89 and its 200 day moving average is $32.70. Premier has a one year low of $29.68 and a one year high of $37.24.
Premier (NASDAQ:PINC) last released its quarterly earnings results on Monday, August 22nd. The company reported $0.36 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by $0.02. Premier had a negative return on equity of 8.33% and a net margin of 110.54%. The firm had revenue of $301.40 million for the quarter. During the same quarter last year, the business earned $0.36 earnings per share. Premier’s revenue for the quarter was up 13.1% compared to the same quarter last year. Equities research analysts predict that Premier will post $1.77 EPS for the current fiscal year.
In other Premier news, insider Durral R. Gilbert sold 20,000 shares of the business’s stock in a transaction dated Tuesday, July 12th. The shares were sold at an average price of $34.00, for a total transaction of $680,000.00. Following the completion of the transaction, the insider now directly owns 44,239 shares of the company’s stock, valued at approximately $1,504,126. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP R. Wesley Champion sold 7,108 shares of the business’s stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $31.47, for a total transaction of $223,688.76. The disclosure for this sale can be found here. Company insiders own 17.31% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Acrospire Investment Management LLC purchased a new position in Premier during the first quarter worth about $103,000. Meeder Asset Management Inc. purchased a new position in Premier during the second quarter worth about $105,000. Panagora Asset Management Inc. purchased a new position in Premier during the second quarter worth about $152,000. Pacer Advisors Inc. raised its position in Premier by 502.3% in the second quarter. Pacer Advisors Inc. now owns 4,794 shares of the company’s stock worth $156,000 after buying an additional 3,998 shares during the last quarter. Finally, Legal & General Group Plc raised its position in Premier by 62.0% in the second quarter. Legal & General Group Plc now owns 4,775 shares of the company’s stock worth $156,000 after buying an additional 1,828 shares during the last quarter. 99.13% of the stock is owned by hedge funds and other institutional investors.
Premier, Inc is a healthcare improvement company. The Company is uniting an alliance of approximately 3,600 United States hospitals and approximately 120,000 other providers 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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