William Blair Reiterates “Outperform” Rating for Premier (PINC)

Premier (NASDAQ:PINC)‘s stock had its “outperform” rating reaffirmed by equities researchers at William Blair in a research report issued to clients and investors on Tuesday.

PINC has been the subject of a number of other reports. Zacks Investment Research upgraded shares of Premier from a “hold” rating to a “buy” rating and set a $33.00 target price for the company in a report on Wednesday, January 10th. SunTrust Banks reduced 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. Robert W. Baird reiterated a “buy” rating and issued a $35.00 target price on shares of Premier in a report on Friday, November 10th. Oppenheimer reiterated a “buy” rating and issued a $40.00 target price on shares of Premier in a report on Thursday, December 7th. Finally, BidaskClub upgraded shares of Premier from a “sell” rating to a “hold” rating in a report on Tuesday, January 23rd. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $36.35.

Shares of Premier (NASDAQ:PINC) opened at $31.37 on Tuesday. The firm has a market capitalization of $4,592.66, a PE ratio of -7.49, a P/E/G ratio of 1.42 and a beta of 0.50. Premier has a fifty-two week low of $27.16 and a fifty-two week high of $36.50.

Premier (NASDAQ:PINC) last released its quarterly earnings data on Monday, February 5th. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.02. The firm had revenue of $411.40 million during the quarter, compared to the consensus estimate of $393.35 million. Premier had a negative return on equity of 18.31% and a net margin of 17.99%. The firm’s quarterly revenue was up 14.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.46 earnings per share. equities analysts forecast that Premier will post 1.93 EPS for the current fiscal year.

In other news, COO Michael J. Alkire sold 25,000 shares of the company’s stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $29.90, for a total transaction 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 filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 17.52% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. State of Alaska Department of Revenue acquired a new position in shares of Premier during the fourth quarter valued at about $124,000. The Manufacturers Life Insurance Company increased its holdings in shares of Premier by 7.8% during the second quarter. The Manufacturers Life Insurance Company now owns 4,373 shares of the company’s stock valued at $157,000 after acquiring an additional 315 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Premier by 30.9% during the second quarter. PNC Financial Services Group Inc. now owns 4,796 shares of the company’s stock valued at $173,000 after acquiring an additional 1,132 shares in the last quarter. American Century Companies Inc. acquired a new position in shares of Premier during the fourth quarter valued at about $243,000. Finally, Suntrust Banks Inc. acquired a new position in shares of Premier during the second quarter valued at about $276,000. Hedge funds and other institutional investors own 39.52% of the company’s stock.

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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.

Analyst Recommendations for Premier (NASDAQ:PINC)

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