Cowen started coverage on shares of Premier (NASDAQ:PINC) in a report issued on Tuesday, Marketbeat Ratings reports. The firm issued a market perform rating and a $35.00 price target on the stock.
PINC has been the subject of several other reports. SunTrust Banks reaffirmed a buy rating and set a $38.00 price objective on shares of Premier in a report on Thursday, February 8th. Piper Jaffray Companies reaffirmed a hold rating on shares of Premier in a report on Wednesday, February 7th. Benchmark started coverage on shares of Premier in a report on Thursday, February 8th. They set a buy rating and a $40.00 price objective for the company. William Blair reaffirmed an outperform rating on shares of Premier in a report on Tuesday, February 6th. Finally, BidaskClub raised shares of Premier from a strong sell rating to a sell rating in a report on Thursday, January 11th. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company presently has an average rating of Buy and an average target price of $36.71.
Premier (PINC) opened at $31.82 on Tuesday. Premier has a 12 month low of $27.16 and a 12 month high of $36.50. The company has a market cap of $4,330.00, a price-to-earnings ratio of -18.94, a PEG ratio of 1.24 and a beta of 0.50. The company has a debt-to-equity ratio of -0.01, a quick ratio of 0.71 and a current ratio of 0.83.
Premier (NASDAQ:PINC) last announced its quarterly earnings results on Monday, February 5th. The company reported $0.50 EPS for the quarter, topping the Thomson Reuters’ consensus estimate 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 for the quarter, compared to analyst estimates of $393.35 million. During the same quarter in the prior year, the business posted $0.46 EPS. Premier’s quarterly revenue was up 14.8% on a year-over-year basis. research analysts forecast that Premier will post 2.11 earnings per share for the current year.
In related news, Director Stephen R. D’arcy sold 3,967 shares of the company’s stock in a transaction on 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 directly owns 11,233 shares of the company’s stock, valued at approximately $356,310.76. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 17.52% of the stock is currently owned by corporate insiders.
Institutional investors have recently modified their holdings of the business. State of Alaska Department of Revenue bought a new stake in Premier in the 4th quarter valued at $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 period. 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 period. Suntrust Banks Inc. bought a new stake in Premier in the 2nd quarter valued at $276,000. Finally, American Century Companies Inc. bought a new stake in Premier in the 4th quarter valued at $243,000. 39.60% of the stock is owned by hedge funds and other 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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