Premier (PINC) Receives Buy Rating from Oppenheimer
Premier (NASDAQ:PINC)‘s stock had its “buy” rating reaffirmed by analysts at Oppenheimer in a note issued to investors on Thursday. They presently have a $40.00 target price on the stock. Oppenheimer’s price target indicates a potential upside of 37.13% from the company’s previous close.
A number of other research firms have also issued reports on PINC. Robert W. Baird restated a “buy” rating and issued a $35.00 target price on shares of Premier in a report on Friday, November 10th. Zacks Investment Research upgraded shares of Premier from a “sell” rating to a “hold” rating in a report on Tuesday, September 5th. BidaskClub lowered shares of Premier from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 23rd. William Blair reiterated an “ourperform” rating on shares of Premier in a report on Tuesday, August 22nd. Finally, SunTrust Banks cut their price objective on shares of Premier to $36.00 and set a “buy” rating on the stock in a report on Friday, November 17th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $38.38.
Shares of Premier (NASDAQ PINC) traded up $0.26 during midday trading on Thursday, reaching $29.17. 716,900 shares of the company were exchanged, compared to its average volume of 511,640. The firm has a market cap of $4,034.45, a PE ratio of 16.15, a price-to-earnings-growth ratio of 1.29 and a beta of 0.40. Premier has a 12-month low of $27.16 and a 12-month high of $36.50.
In related news, COO Michael J. Alkire sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $29.90, for a total value of $747,500.00. Following the transaction, the chief operating officer now owns 180,550 shares in the company, valued at $5,398,445. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 17.52% of the company’s stock.
A number of large investors have recently modified their holdings of the business. Burgundy Asset Management Ltd. grew its position in Premier by 3.9% in the third quarter. Burgundy Asset Management Ltd. now owns 328,984 shares of the company’s stock valued at $10,715,000 after acquiring an additional 12,384 shares in the last quarter. Sterling Capital Management LLC grew its position in Premier by 17.3% in the third quarter. Sterling Capital Management LLC now owns 127,909 shares of the company’s stock valued at $4,166,000 after acquiring an additional 18,834 shares in the last quarter. Argent Capital Management LLC grew its position in Premier by 16.4% in the third quarter. Argent Capital Management LLC now owns 89,800 shares of the company’s stock valued at $2,925,000 after acquiring an additional 12,650 shares in the last quarter. California Public Employees Retirement System grew its position in Premier by 4.9% in the third quarter. California Public Employees Retirement System now owns 111,111 shares of the company’s stock valued at $3,619,000 after acquiring an additional 5,211 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in Premier in the third quarter valued at approximately $719,000. 38.31% of the stock is owned by institutional investors.
Premier Company Profile
Premier, Inc is a healthcare improvement company. The Company is uniting an alliance of approximately 3,900 United States hospitals and health systems and approximately 150,000 other providers and 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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