Premier (NASDAQ:PINC) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a report issued on Thursday.
Other research analysts also recently issued reports about the company. Zacks Investment Research upgraded Premier from a “hold” rating to a “buy” rating and set a $33.00 price objective for the company in a report on Wednesday, January 10th. Benchmark assumed coverage on Premier in a report on Thursday, February 8th. They set a “buy” rating and a $40.00 price objective for the company. Cowen assumed coverage on Premier in a report on Tuesday, February 13th. They set a “market perform” rating and a $35.00 price objective for the company. William Blair reiterated an “outperform” rating on shares of Premier in a report on Tuesday, February 6th. Finally, SunTrust Banks reiterated a “buy” rating and set a $38.00 price objective on shares of Premier in a report on Thursday, February 8th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $36.71.
Shares of Premier stock opened at $30.60 on Thursday. The company has a quick ratio of 0.71, a current ratio of 0.83 and a debt-to-equity ratio of -0.01. The stock has a market capitalization of $4,203.71, a price-to-earnings ratio of 17.02, a price-to-earnings-growth ratio of 1.19 and a beta of 0.49. Premier has a 1 year low of $27.16 and a 1 year high of $36.50.
Premier (NASDAQ:PINC) last posted its quarterly earnings data on Monday, February 5th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.02. The business 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 19.94% and a net margin of 14.14%. Premier’s quarterly revenue was up 14.8% on a year-over-year basis. During the same period last year, the company earned $0.46 earnings per share. research analysts predict that Premier will post 2.11 EPS for the current fiscal year.
In other Premier news, SVP Leigh Anderson sold 1,177 shares of the firm’s stock in a transaction that occurred on Friday, March 23rd. The stock was sold at an average price of $31.85, for a total value of $37,487.45. Following the completion of the transaction, the senior vice president now directly owns 10,784 shares in the company, valued at $343,470.40. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Kelli L. Price sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 14th. The shares were sold at an average price of $34.33, for a total value of $137,320.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 55,394 shares of company stock valued at $1,815,003. Corporate insiders own 17.52% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the business. TimesSquare Capital Management LLC grew its stake in Premier by 7.1% in the fourth quarter. TimesSquare Capital Management LLC now owns 2,907,500 shares of the company’s stock valued at $84,870,000 after purchasing an additional 191,800 shares in the last quarter. BlackRock Inc. grew its stake in Premier by 6.7% in the fourth quarter. BlackRock Inc. now owns 2,614,627 shares of the company’s stock valued at $76,321,000 after purchasing an additional 164,968 shares in the last quarter. River Road Asset Management LLC grew its stake in Premier by 10.2% in the fourth quarter. River Road Asset Management LLC now owns 1,410,267 shares of the company’s stock valued at $41,166,000 after purchasing an additional 130,432 shares in the last quarter. APG Asset Management N.V. grew its stake in Premier by 214.8% in the fourth quarter. APG Asset Management N.V. now owns 1,227,900 shares of the company’s stock valued at $29,849,000 after purchasing an additional 837,800 shares in the last quarter. Finally, Jennison Associates LLC grew its stake in Premier by 24.6% in the fourth quarter. Jennison Associates LLC now owns 1,150,468 shares of the company’s stock valued at $33,582,000 after purchasing an additional 227,285 shares in the last quarter. Hedge funds and other institutional investors own 42.91% of the company’s stock.
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Premier, Inc, together with its subsidiaries, operates as a healthcare improvement company in the United States. The company operates through two segments, Supply Chain Services and Performance Services. The Supply Chain Services segment offers its members with access to a range of products and services, including medical and surgical products, pharmaceuticals, laboratory supplies, capital equipment, information technology, facilities and construction, and food and nutritional products, as well as purchased services, such as clinical engineering and document shredding services and software-as-a-service informatics products.
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