William Blair Reiterates Ourperform Rating for Premier, Inc. (PINC)
Premier, Inc. (NASDAQ:PINC)‘s stock had its “ourperform” rating reiterated by research analysts at William Blair in a research note issued on Tuesday.
Several other brokerages also recently issued reports on PINC. Zacks Investment Research downgraded shares of Premier from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Bank of America Corporation boosted their price target on shares of Premier from $37.00 to $39.00 and gave the company a “buy” rating in a report on Thursday, May 25th. UBS AG reissued a “neutral” rating and set a $35.00 price target (up previously from $34.00) on shares of Premier in a report on Thursday, May 25th. BidaskClub downgraded shares of Premier from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Finally, Jefferies Group LLC reissued a “buy” rating and set a $40.00 price target on shares of Premier in a report on Wednesday, August 9th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and eleven have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $38.25.
Shares of Premier (PINC) traded up 2.151% during midday trading on Tuesday, reaching $33.485. The company’s stock had a trading volume of 358,556 shares. The company’s 50-day moving average price is $34.80 and its 200-day moving average price is $33.48. The company has a market cap of $1.73 billion, a PE ratio of 15.787 and a beta of 0.46. Premier has a 12 month low of $28.27 and a 12 month high of $36.50.
Premier (NASDAQ:PINC) last announced its quarterly earnings results on Monday, August 21st. The company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by $0.02. Premier had a net margin of 31.41% and a negative return on equity of 13.95%. The firm had revenue of $403.10 million for the quarter, compared to analyst estimates of $400.45 million. During the same period last year, the firm posted $0.36 EPS. The business’s revenue was up 33.7% compared to the same quarter last year. On average, equities analysts anticipate that Premier will post $1.91 EPS for the current fiscal year.
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In other Premier news, SVP Leigh Anderson sold 1,099 shares of the company’s stock in a transaction dated 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 sale, the senior vice president now directly owns 7,655 shares of the company’s stock, valued at approximately $270,144.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Craig S. Mckasson sold 10,750 shares of the company’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $33.55, for a total transaction of $360,662.50. Following the completion of the sale, the insider now directly owns 88,688 shares of the company’s stock, valued at $2,975,482.40. The disclosure for this sale can be found here. Insiders sold a total of 184,710 shares of company stock valued at $6,476,796 over the last three months. 17.14% of the stock is owned by corporate insiders.
A number of large investors have recently modified their holdings of PINC. Alps Advisors Inc. increased its stake in shares of Premier by 0.3% in the second quarter. Alps Advisors Inc. now owns 15,462 shares of the company’s stock worth $557,000 after buying an additional 40 shares during the last quarter. Advisors Asset Management Inc. increased its stake in shares of Premier by 1.6% in the second quarter. Advisors Asset Management Inc. now owns 4,461 shares of the company’s stock worth $161,000 after buying an additional 72 shares during the last quarter. PNC Financial Services Group Inc. increased 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. The Manufacturers Life Insurance Company increased its stake in shares of Premier by 7.8% in the second quarter. The Manufacturers Life Insurance Company now owns 4,373 shares of the company’s stock worth $157,000 after buying an additional 315 shares during the last quarter. Finally, People s United Financial Inc. increased its stake in shares of Premier by 4.0% in the second quarter. People s United Financial Inc. now owns 9,728 shares of the company’s stock worth $350,000 after buying an additional 372 shares during the last quarter.
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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