Analysts at Evercore ISI began coverage on shares of Premier (NASDAQ:PINC) in a note issued to investors on Thursday, Marketbeat.com reports. The brokerage set an “in-line” rating and a $33.50 price target on the stock. Evercore ISI’s price target points to a potential upside of 3.94% from the stock’s previous close.
Other equities research analysts have also issued research reports about the company. Zacks Investment Research raised Premier from a “hold” rating to a “buy” rating and set a $33.00 price objective on the stock in a report on Wednesday, January 10th. Oppenheimer reissued a “buy” rating and set a $40.00 price target on shares of Premier in a research note on Thursday, December 7th. SunTrust Banks cut their price objective on Premier to $36.00 and set a “buy” rating for the company in a research report on Friday, November 17th. Robert W. Baird restated a “buy” rating and set a $35.00 price objective on shares of Premier in a research report on Friday, November 10th. Finally, KeyCorp restated a “buy” rating and set a $42.00 price objective on shares of Premier in a research report on Wednesday, October 4th. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $36.35.
Premier (PINC) traded down $0.02 during trading hours on Thursday, reaching $32.23. The company had a trading volume of 835,900 shares, compared to its average volume of 736,892. The stock has a market capitalization of $4,500.55, a price-to-earnings ratio of -7.69, a PEG ratio of 1.41 and a beta of 0.40. Premier has a 52-week low of $27.16 and a 52-week 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 transaction of $747,500.00. Following the completion of the sale, the chief operating officer now directly owns 180,550 shares in the company, valued at $5,398,445. The sale 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.
Hedge funds have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its position 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 buying an additional 384 shares in the last quarter. State of Alaska Department of Revenue acquired a new position in Premier in the 4th quarter valued at $124,000. 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 last quarter. 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 last quarter. Finally, Suntrust Banks Inc. acquired a new stake in Premier in the 2nd quarter worth $276,000. Institutional investors own 38.36% of the company’s stock.
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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