Premier Sets New 52-Week Low on Analyst Downgrade (PINC)
Premier (NASDAQ:PINC) shares reached a new 52-week low on Wednesday after Citigroup lowered their price target on the stock, Stock Ratings Network.com reports. The company traded as low as $26.80 and last traded at $27.02, with a volume of 122,888 shares changing hands. The stock had previously closed at $28.18.
Other equities research analysts have also recently issued reports about the stock. Analysts at SunTrust cut their price target on shares of Premier from $40.00 to $35.00 in a research note on Tuesday. Separately, analysts at ISI Group reiterated a “buy” rating on shares of Premier in a research note on Tuesday. They now have a $35.00 price target on the stock, down previously from $39.50. Finally, analysts at ISI Group upgraded shares of Premier from a “neutral” rating to a “buy” rating in a research note on Thursday, April 10th. They now have a $39.50 price target on the stock. They noted that the move was a valuation call. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. Premier presently has a consensus rating of “Buy” and an average target price of $33.33.
The stock has a 50-day moving average of $31. and a 200-day moving average of $33.74. The company’s market cap is $871.5 million. Premier also was the target of a large decline in short interest in the month of April. As of April 30th, there was short interest totalling 547,495 shares, a decline of 26.4% from the April 15th total of 743,688 shares. Based on an average daily volume of 200,083 shares, the days-to-cover ratio is presently 2.7 days. Approximately 1.7% of the company’s shares are short sold.
Premier (NASDAQ:PINC) last released its earnings data on Monday, May 12th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.01. The company had revenue of $225.60 million for the quarter, compared to the consensus estimate of $219.16 million. The company’s revenue for the quarter was up .8% on a year-over-year basis. Analysts expect that Premier will post $1.27 EPS for the current fiscal year.
Premier, Inc is a collaborative healthcare alliance of approximately 2,900 the United States community hospitals and 100,000 alternate sites.
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