Premier, Inc. (PINC) Lifted to Hold at Zacks Investment Research
Premier, Inc. (NASDAQ:PINC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Friday.
According to Zacks, “Premier, Inc. operates as a healthcare alliance. The company brings together hospitals, health systems, physicians and other healthcare providers primarily in the United States. It also maintains clinical, financial and outcomes databases. Premier, Inc. is headquartered in Charlotte, North Carolina. “
A number of other research analysts have also commented on the stock. Jefferies Group LLC reiterated a “buy” rating and set a $40.00 price objective on shares of Premier in a research note on Wednesday, August 9th. BidaskClub lowered shares of Premier from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Bank of America Corporation raised their price objective on shares of Premier from $37.00 to $39.00 and gave the company a “buy” rating in a research note on Thursday, May 25th. Finally, UBS AG reiterated a “neutral” rating and set a $35.00 price objective (up previously from $34.00) on shares of Premier in a research note on Thursday, May 25th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $38.25.
Shares of Premier (NASDAQ PINC) opened at 32.94 on Friday. The stock has a market cap of $1.70 billion, a price-to-earnings ratio of 15.53 and a beta of 0.46. The stock’s 50 day moving average price is $34.89 and its 200 day moving average price is $33.45. Premier has a 52 week low of $28.27 and a 52 week high of $36.50.
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In related news, insider Craig S. Mckasson sold 10,750 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $33.55, for a total value of $360,662.50. Following the completion of the transaction, the insider now owns 88,688 shares of the company’s stock, valued at approximately $2,975,482.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Durral R. Gilbert sold 82,861 shares of the firm’s stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $35.11, for a total transaction of $2,909,249.71. Following the completion of the transaction, the insider now directly owns 145,261 shares of the company’s stock, valued at approximately $5,100,113.71. The disclosure for this sale can be found here. In the last 90 days, insiders sold 184,710 shares of company stock worth $6,476,796. 17.14% of the stock is currently owned by company insiders.
A number of institutional investors have recently bought and sold shares of PINC. FMR LLC raised its position in Premier by 2.1% in the second quarter. FMR LLC now owns 7,763,382 shares of the company’s stock worth $279,482,000 after buying an additional 158,103 shares in the last quarter. Vanguard Group Inc. raised its position in Premier by 7.4% in the second quarter. Vanguard Group Inc. now owns 4,345,748 shares of the company’s stock worth $156,447,000 after buying an additional 300,387 shares in the last quarter. TimesSquare Capital Management LLC raised its position in Premier by 1.0% in the first quarter. TimesSquare Capital Management LLC now owns 2,638,000 shares of the company’s stock worth $83,968,000 after buying an additional 27,300 shares in the last quarter. JPMorgan Chase & Co. raised its position in Premier by 2.5% in the second quarter. JPMorgan Chase & Co. now owns 2,307,387 shares of the company’s stock worth $83,066,000 after buying an additional 57,064 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. raised its position in Premier by 561.3% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 1,676,451 shares of the company’s stock worth $53,361,000 after buying an additional 1,422,955 shares in the last quarter.
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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