Benchmark Initiates Coverage on Premier (PINC)

Research analysts at Benchmark started coverage on shares of Premier (NASDAQ:PINC) in a research report issued to clients and investors on Thursday, Marketbeat Ratings reports. The firm set a “buy” rating and a $40.00 price target on the stock. Benchmark’s target price would suggest a potential upside of 26.58% from the stock’s previous close.

A number of other brokerages have also weighed in on PINC. BidaskClub raised Premier from a “sell” rating to a “hold” rating in a report on Tuesday, January 23rd. Piper Jaffray Companies reaffirmed a “hold” rating on shares of Premier in a report on Wednesday. Evercore ISI began coverage on Premier in a report on Thursday, January 18th. They issued an “in-line” rating and a $33.50 price objective on the stock. William Blair reaffirmed an “outperform” rating on shares of Premier in a report on Tuesday, February 6th. Finally, Zacks Investment Research raised Premier from a “hold” rating to a “buy” rating and set a $33.00 price target on the stock in a research note on Wednesday, January 10th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Premier currently has an average rating of “Buy” and an average price target of $36.86.

Shares of Premier (PINC) traded up $0.32 on Thursday, reaching $31.60. The company’s stock had a trading volume of 1,085,424 shares, compared to its average volume of 763,540. Premier has a 12 month low of $27.16 and a 12 month high of $36.50. The stock has a market cap of $4,409.84, a price-to-earnings ratio of -9.69, a PEG ratio of 1.27 and a beta of 0.50. The company has a debt-to-equity ratio of -0.01, a current ratio of 0.83 and a quick ratio of 0.69.

Premier (NASDAQ:PINC) last announced its quarterly earnings data on Monday, February 5th. The company reported $0.50 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.02. Premier had a negative return on equity of 19.94% and a net margin of 14.14%. The company had revenue of $411.40 million for the quarter, compared to analyst estimates of $393.35 million. During the same quarter in the previous year, the company earned $0.46 EPS. The firm’s revenue for the quarter was up 14.8% compared to the same quarter last year. equities analysts predict that Premier will post 2.08 EPS for the current fiscal year.

In other news, Director Stephen R. D’arcy sold 3,967 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $31.72, for a total transaction of $125,833.24. Following the sale, the director now owns 11,233 shares of the company’s stock, valued at approximately $356,310.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 17.52% of the stock is owned by insiders.

Large investors have recently made changes to their positions in the company. State of Alaska Department of Revenue purchased a new stake in shares of Premier during the 4th quarter worth approximately $124,000. The Manufacturers Life Insurance Company boosted its stake in shares of Premier by 7.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,373 shares of the company’s stock worth $157,000 after acquiring an additional 315 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Premier by 30.9% during the 2nd quarter. PNC Financial Services Group Inc. now owns 4,796 shares of the company’s stock worth $173,000 after acquiring an additional 1,132 shares in the last quarter. Suntrust Banks Inc. purchased a new stake in Premier in the 2nd quarter valued at approximately $276,000. Finally, American Century Companies Inc. purchased a new stake in Premier in the 4th quarter valued at approximately $243,000. 39.52% of the stock is currently owned by institutional investors and hedge funds.

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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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