Premier’s (PINC) Buy Rating Reaffirmed at KeyCorp
Premier, Inc. (NASDAQ:PINC)‘s stock had its “buy” rating restated by KeyCorp in a research report issued on Wednesday. They currently have a $42.00 price target on the stock. KeyCorp’s target price would indicate a potential upside of 22.77% from the company’s previous close.
Several other brokerages also recently issued reports on PINC. Jefferies Group LLC reiterated a “buy” rating and issued a $40.00 price objective on shares of Premier in a research report on Wednesday, August 9th. Zacks Investment Research raised Premier from a “sell” rating to a “hold” rating in a report on Tuesday. Piper Jaffray Companies restated a “hold” rating on shares of Premier in a research report on Tuesday, August 22nd. William Blair reiterated an “ourperform” rating on shares of Premier in a research report on Tuesday, August 22nd. Finally, BidaskClub lowered shares of Premier from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 23rd. Two analysts have rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company’s stock. Premier has a consensus rating of “Hold” and an average target price of $38.88.
Shares of Premier (PINC) traded up 0.09% during midday trading on Wednesday, hitting $34.24. 105,788 shares of the company’s stock traded hands. The firm has a market capitalization of $1.82 billion, a price-to-earnings ratio of 22.68 and a beta of 0.46. Premier has a 1-year low of $28.27 and a 1-year high of $36.50. The company has a 50 day moving average price of $32.93 and a 200 day moving average price of $33.83.
Premier (NASDAQ:PINC) last posted its earnings results on Monday, August 21st. The company reported $0.50 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by ($0.02). The firm had revenue of $403.10 million during the quarter, compared to the consensus estimate of $400.45 million. Premier had a negative return on equity of 16.27% and a net margin of 0.66%. During the same period in the previous year, the company posted $0.36 EPS. The firm’s revenue for the quarter was up 33.7% compared to the same quarter last year. Equities analysts anticipate that Premier will post $2.05 earnings per share for the current year.
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In related news, SVP Leigh Anderson sold 2,264 shares of the stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $32.73, for a total value of $74,100.72. Following the completion of the sale, the senior vice president now directly owns 14,654 shares in the company, valued at $479,625.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Susan D. Devore sold 40,000 shares of the firm’s stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $32.74, for a total value of $1,309,600.00. Following the transaction, the chief executive officer now directly owns 466,427 shares of the company’s stock, valued at $15,270,819.98. The disclosure for this sale can be found here. Insiders have sold 78,014 shares of company stock worth $2,575,863 over the last quarter. Corporate insiders own 17.14% of the company’s stock.
Institutional investors have recently modified their holdings of the business. Acrospire Investment Management LLC bought a new stake in shares of Premier in the 1st quarter valued at $103,000. Meeder Asset Management Inc. purchased a new stake in shares of Premier in the second quarter worth approximately $105,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Premier by 13.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,185 shares of the company’s stock worth $115,000 after purchasing an additional 384 shares during the last quarter. Advisors Asset Management Inc. raised its stake in shares of Premier by 25.0% in the third quarter. Advisors Asset Management Inc. now owns 3,583 shares of the company’s stock worth $116,000 after purchasing an additional 717 shares during the last quarter. Finally, Bronfman E.L. Rothschild L.P. raised its stake in shares of Premier by 843.8% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 3,577 shares of the company’s stock worth $116,000 after purchasing an additional 3,198 shares during the last quarter. Hedge funds and other institutional investors own 37.75% of the company’s stock.
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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