Premier, Inc. (PINC) Receives Consensus Rating of “Buy” from Brokerages
Premier, Inc. (NASDAQ:PINC) has earned an average recommendation of “Buy” from the sixteen brokerages that are currently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and twelve have given a buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $38.90.
Several equities research analysts have issued reports on PINC shares. Bank of America Corporation upgraded Premier from an “underperform” rating to a “buy” rating and set a $37.00 target price on the stock in a research report on Tuesday, March 28th. Zacks Investment Research downgraded Premier from a “buy” rating to a “hold” rating in a research report on Friday, May 12th. Jefferies Group LLC restated a “buy” rating and set a $40.00 target price on shares of Premier in a research report on Thursday, April 13th. Finally, UBS Group AG reiterated a “neutral” rating and issued a $35.00 price objective (up previously from $34.00) on shares of Premier in a research report on Thursday, May 25th.
Premier (NASDAQ PINC) traded down 0.48% during trading on Tuesday, reaching $35.37. The company’s stock had a trading volume of 299,463 shares. The company has a market cap of $1.83 billion, a price-to-earnings ratio of 16.68 and a beta of 0.47. Premier has a 12 month low of $28.27 and a 12 month high of $36.50. The stock’s 50 day moving average is $35.00 and its 200 day moving average is $32.57.
Premier (NASDAQ:PINC) last posted its earnings results on Monday, May 8th. The company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.05. The firm had revenue of $379.80 million for the quarter, compared to the consensus estimate of $401.71 million. Premier had a negative return on equity of 13.95% and a net margin of 31.41%. The business’s quarterly revenue was up 27.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.44 earnings per share. On average, equities analysts expect that Premier will post $1.91 EPS for the current fiscal year.
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In related news, CEO Susan D. Devore sold 40,000 shares of the stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $35.24, for a total value of $1,409,600.00. Following the transaction, the chief executive officer now owns 391,589 shares of the company’s stock, valued at $13,799,596.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Leigh Anderson sold 1,099 shares of the stock in a transaction on Monday, June 19th. The shares were sold at an average price of $35.29, for a total value of $38,783.71. Following the completion of the transaction, the senior vice president now directly owns 7,655 shares in the company, valued at approximately $270,144.95. The disclosure for this sale can be found here. In the last three months, insiders sold 184,710 shares of company stock worth $6,490,663. 17.14% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in PINC. Investment Counselors of Maryland LLC bought a new position in shares of Premier during the first quarter worth about $166,000. Punch & Associates Investment Management Inc. boosted its position in shares of Premier by 0.6% in the first quarter. Punch & Associates Investment Management Inc. now owns 75,540 shares of the company’s stock worth $2,404,000 after buying an additional 425 shares during the period. Russell Investments Group Ltd. boosted its position in shares of Premier by 131.6% in the first quarter. Russell Investments Group Ltd. now owns 83,964 shares of the company’s stock worth $2,673,000 after buying an additional 47,713 shares during the period. River Road Asset Management LLC boosted its position in shares of Premier by 23.1% in the first quarter. River Road Asset Management LLC now owns 1,342,069 shares of the company’s stock worth $42,718,000 after buying an additional 251,825 shares during the period. Finally, Nationwide Fund Advisors bought a new position in shares of Premier during the first quarter worth about $2,035,000.
Premier Company Profile
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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