Premier (NASDAQ:PINC) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report issued on Wednesday.
According to Zacks, “Premier, Inc. operates as a healthcare alliance. The company brings together hospitals, health systems, physicians and other healthcare providers primarily in the United States. It also maintains clinical, financial and outcomes databases. Premier, Inc. is headquartered in Charlotte, North Carolina. “
Several other research analysts also recently weighed in on the company. Oppenheimer restated a “buy” rating and set a $40.00 target price on shares of Premier in a research note on Thursday, December 7th. Evercore ISI started coverage on Premier in a research note on Thursday, January 18th. They set an “in-line” rating and a $33.50 target price on the stock. Citigroup started coverage on Premier in a research note on Thursday, January 4th. They set a “neutral” rating on the stock. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $30.00 price target on shares of Premier in a research report on Tuesday, December 19th. Finally, SunTrust Banks lowered their price target on Premier to $36.00 and set a “buy” rating for the company in a research report on Friday, November 17th. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $36.71.
Premier (NASDAQ:PINC) last announced its earnings results on Monday, February 5th. The company reported $0.50 earnings per share for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $411.40 million for the quarter, compared to the consensus estimate of $393.35 million. During the same period in the previous year, the business earned $0.46 EPS. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. analysts predict that Premier will post 2.11 earnings per share for the current year.
In other Premier news, CEO Susan D. Devore sold 40,000 shares of Premier stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $32.47, for a total transaction of $1,298,800.00. Following the completion of the sale, the chief executive officer now owns 373,176 shares of the company’s stock, valued at approximately $12,117,024.72. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Craig S. Mckasson sold 6,250 shares of the business’s stock in a transaction dated Monday, March 12th. The shares were sold at an average price of $34.49, for a total value of $215,562.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 50,217 shares of company stock valued at $1,640,196. 17.52% of the stock is currently owned by insiders.
Several hedge funds have recently modified their holdings of the company. TimesSquare Capital Management LLC lifted its holdings in shares of Premier by 7.1% in the 4th quarter. TimesSquare Capital Management LLC now owns 2,907,500 shares of the company’s stock valued at $84,870,000 after buying an additional 191,800 shares during the period. BlackRock Inc. lifted its holdings in shares of Premier by 6.7% in the 4th quarter. BlackRock Inc. now owns 2,614,627 shares of the company’s stock valued at $76,321,000 after buying an additional 164,968 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Premier by 3.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,380,922 shares of the company’s stock valued at $77,808,000 after buying an additional 73,535 shares during the period. River Road Asset Management LLC lifted its holdings in shares of Premier by 10.2% in the 4th quarter. River Road Asset Management LLC now owns 1,410,267 shares of the company’s stock valued at $41,166,000 after buying an additional 130,432 shares during the period. Finally, APG Asset Management N.V. lifted its holdings in shares of Premier by 214.8% in the 4th quarter. APG Asset Management N.V. now owns 1,227,900 shares of the company’s stock valued at $29,849,000 after buying an additional 837,800 shares during the period. 42.91% of the stock is 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.
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