Premier (NASDAQ:PINC) was upgraded by stock analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research report issued to clients and investors on Thursday.

Several other research firms have also issued reports on PINC. Robert W. Baird reiterated a “buy” rating and set a $35.00 target price on shares of Premier in a report on Friday, November 10th. Oppenheimer reiterated a “buy” rating and set a $40.00 target price on shares of Premier in a report on Thursday, December 7th. SunTrust Banks lowered their target price on shares of Premier to $36.00 and set a “buy” rating for the company in a report on Friday, November 17th. Zacks Investment Research upgraded shares of Premier from a “sell” rating to a “hold” rating in a report on Thursday, November 23rd. Finally, JPMorgan Chase & Co. restated a “neutral” rating and issued a $30.00 price objective on shares of Premier in a report on Tuesday, December 19th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $36.67.

Premier (NASDAQ PINC) traded up $0.56 during mid-day trading on Thursday, hitting $31.82. 711,480 shares of the stock traded hands, compared to its average volume of 602,156. Premier has a 1 year low of $27.16 and a 1 year high of $36.50. The stock has a market capitalization of $4,440.54, a price-to-earnings ratio of 17.78, a price-to-earnings-growth ratio of 1.39 and a beta of 0.40.

Premier (NASDAQ:PINC) last released its earnings results on Monday, November 6th. The company reported $0.44 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.05). Premier had a net margin of 17.99% and a negative return on equity of 18.31%. The business had revenue of $390.56 million for the quarter, compared to analysts’ expectations of $389.56 million. During the same quarter in the previous year, the business posted $0.41 earnings per share. Premier’s revenue for the quarter was up 24.7% on a year-over-year basis. equities research analysts anticipate that Premier will post 1.9 earnings per share for the current year.

In related news, COO Michael J. Alkire sold 25,000 shares of the business’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 completion of the transaction, the chief operating officer now directly owns 180,550 shares in the company, valued at approximately $5,398,445. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 17.52% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in PINC. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Premier by 13.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,185 shares of the company’s stock worth $115,000 after acquiring an additional 384 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Premier by 7.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,373 shares of the company’s stock worth $157,000 after purchasing an additional 315 shares during the period. PNC Financial Services Group Inc. grew its position in Premier by 30.9% in the 2nd quarter. PNC Financial Services Group Inc. now owns 4,796 shares of the company’s stock worth $173,000 after purchasing an additional 1,132 shares during the period. Pacer Advisors Inc. grew its position in Premier by 11.6% in the 2nd quarter. Pacer Advisors Inc. now owns 7,426 shares of the company’s stock worth $267,000 after purchasing an additional 774 shares during the period. Finally, Suntrust Banks Inc. bought a new stake in Premier in the 2nd quarter worth approximately $276,000. Institutional investors own 38.37% of the company’s stock.

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About Premier

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.

Analyst Recommendations for Premier (NASDAQ:PINC)

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