Premier Inc (NASDAQ:PINC) – Equities researchers at SunTrust Banks increased their Q3 2018 earnings per share estimates for shares of Premier in a report released on Thursday. SunTrust Banks analyst S. Draper now forecasts that the company will earn $0.63 per share for the quarter, up from their prior estimate of $0.54. SunTrust Banks has a “Buy” rating and a $38.00 price objective on the stock. SunTrust Banks also issued estimates for Premier’s Q4 2018 earnings at $0.62 EPS.
A number of other research analysts have also recently weighed in on the stock. Oppenheimer reaffirmed a “buy” rating and issued a $40.00 price objective on shares of Premier in a report on Thursday, December 7th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $30.00 price objective on shares of Premier in a report on Tuesday, December 19th. Citigroup started coverage on shares of Premier in a report on Thursday, January 4th. They issued a “neutral” rating for the company. Robert W. Baird reaffirmed a “buy” rating and issued a $35.00 price objective on shares of Premier in a report on Friday, November 10th. Finally, Zacks Investment Research raised shares of Premier from a “sell” rating to a “hold” rating in a report on Thursday, November 23rd. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $36.86.
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 analysts’ consensus estimates of $0.48 by $0.02. Premier had a net margin of 14.14% and a negative return on equity of 19.94%. The company had revenue of $411.40 million during the quarter, compared to analysts’ expectations of $393.35 million. During the same quarter in the previous year, the company earned $0.46 earnings per share. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis.
In related news, Director Stephen R. D’arcy sold 3,967 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $31.72, for a total transaction of $125,833.24. Following the completion of 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 SEC, which can be accessed 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. State of Alaska Department of Revenue acquired a new position in Premier in the 4th quarter valued at about $124,000. The Manufacturers Life Insurance Company boosted its holdings in Premier by 7.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,373 shares of the company’s stock valued at $157,000 after purchasing an additional 315 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in Premier by 30.9% in the 2nd quarter. PNC Financial Services Group Inc. now owns 4,796 shares of the company’s stock valued at $173,000 after purchasing an additional 1,132 shares during the last quarter. Suntrust Banks Inc. acquired a new position in Premier in the 2nd quarter valued at about $276,000. Finally, American Century Companies Inc. acquired a new position in Premier in the 4th quarter valued at about $243,000. 39.52% of the stock is owned by institutional investors.
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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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