Bank of America Corp Raises Premier Inc (PINC) Price Target to $39.00
Premier Inc (NASDAQ:PINC) had its target price raised by research analysts at Bank of America Corp from $37.00 to $39.00 in a research report issued on Thursday. The brokerage currently has a “buy” rating on the stock. Bank of America Corp’s price objective would indicate a potential upside of 12.00% from the stock’s current price.
Several other equities research analysts have also commented on the stock. Zacks Investment Research lowered shares of Premier from a “buy” rating to a “hold” rating in a research note on Friday, May 12th. Jefferies Group LLC restated a “buy” rating and issued a $40.00 price target on shares of Premier in a research note on Thursday, April 13th. Evercore ISI lowered shares of Premier from a “hold” rating to an “underperform” rating in a research note on Friday, March 3rd. Oppenheimer Holdings Inc. set a $40.00 price target on shares of Premier and gave the company a “buy” rating in a research note on Tuesday, February 7th. Finally, William Blair restated an “outperform” rating on shares of Premier in a research note on Tuesday, February 7th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $38.55.
Premier (NASDAQ:PINC) traded down 0.29% during mid-day trading on Thursday, hitting $34.82. The stock had a trading volume of 150,787 shares. The stock has a market cap of $1.80 billion, a P/E ratio of 16.42 and a beta of 0.50. The company has a 50 day moving average price of $33.72 and a 200 day moving average price of $31.68. Premier has a one year low of $28.27 and a one year high of $35.06.
Premier (NASDAQ:PINC) last announced its quarterly earnings results on Monday, May 8th. The company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.47 by $0.05. Premier had a net margin of 63.27% and a negative return on equity of 11.92%. The company had revenue of $379.80 million for the quarter, compared to analyst estimates of $401.71 million. During the same quarter last year, the business earned $0.44 earnings per share. Premier’s revenue was up 27.2% compared to the same quarter last year. On average, equities analysts anticipate that Premier will post $1.91 EPS for the current year.
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In related news, Director Stephen R. D’arcy sold 6,542 shares of the firm’s stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $31.78, for a total transaction of $207,904.76. Following the completion of the sale, the director now directly owns 11,467 shares in the company, valued at $364,421.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Kelli L. Price sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 15th. The stock was sold at an average price of $30.80, for a total transaction of $308,000.00. Following the sale, the vice president now owns 13,191 shares of the company’s stock, valued at $406,282.80. The disclosure for this sale can be found here. Insiders have sold 38,042 shares of company stock valued at $1,218,955 over the last 90 days. 17.14% of the stock is currently owned by insiders.
A number of hedge funds have recently modified their holdings of PINC. PNC Financial Services Group Inc. boosted its stake in shares of Premier by 4.2% in the first quarter. PNC Financial Services Group Inc. now owns 3,664 shares of the company’s stock worth $117,000 after buying an additional 149 shares during the last quarter. Advisors Asset Management Inc. increased its stake in shares of 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 during the period. Pacer Advisors Inc. increased its stake in shares of Premier by 7.4% in the third quarter. Pacer Advisors Inc. now owns 5,148 shares of the company’s stock valued at $166,000 after buying an additional 354 shares during the period. Investment Counselors of Maryland LLC purchased a new stake in shares of Premier during the first quarter valued at approximately $166,000. Finally, BOKF NA increased its stake in shares of Premier by 6.3% in the third quarter. BOKF NA now owns 7,115 shares of the company’s stock valued at $230,000 after buying an additional 420 shares during the period. Hedge funds and other institutional investors own 96.70% of the company’s stock.
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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