Analysts Set Premier, Inc. (PINC) PT at $38.83
Premier, Inc. (NASDAQ:PINC) has been assigned an average recommendation of “Hold” from the fourteen brokerages that are covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $39.29.
Several research firms have commented on PINC. KeyCorp reaffirmed a “buy” rating and issued a $42.00 target price on shares of Premier in a research note on Wednesday. Jefferies Group LLC reaffirmed a “buy” rating and issued a $40.00 target price on shares of Premier in a research note on Wednesday, August 9th. Zacks Investment Research raised shares of Premier from a “sell” rating to a “hold” rating in a research note on Tuesday. Piper Jaffray Companies reaffirmed a “hold” rating on shares of Premier in a research note on Tuesday, August 22nd. Finally, William Blair reaffirmed an “ourperform” rating on shares of Premier in a research note on Tuesday, August 22nd.
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Premier (NASDAQ:PINC) traded down 0.06% on Friday, reaching $34.19. The company had a trading volume of 1,331,556 shares. Premier has a 52-week low of $28.27 and a 52-week high of $36.50. The stock has a market capitalization of $1.82 billion, a PE ratio of 22.64 and a beta of 0.46. The stock has a 50 day moving average price of $32.93 and a 200 day moving average price of $33.83.
Premier (NASDAQ:PINC) last released its earnings results on Monday, August 21st. The company reported $0.50 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by ($0.02). The firm had revenue of $403.10 million during the quarter, compared to analysts’ expectations of $400.45 million. Premier had a negative return on equity of 16.27% and a net margin of 0.66%. The firm’s revenue was up 33.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.36 earnings per share. Analysts expect that Premier will post $2.04 EPS for the current year.
In other Premier news, CEO Susan D. Devore sold 40,000 shares of Premier stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $32.74, for a total value of $1,309,600.00. Following the transaction, the chief executive officer now owns 466,427 shares in the company, valued at approximately $15,270,819.98. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Craig S. Mckasson sold 10,750 shares of Premier stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $33.55, for a total transaction of $360,662.50. Following the completion of the transaction, the insider now owns 88,688 shares in the company, valued at approximately $2,975,482.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 78,014 shares of company stock worth $2,575,863. 17.14% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the business. Alps Advisors Inc. boosted its holdings in shares of Premier by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 15,462 shares of the company’s stock valued at $557,000 after purchasing an additional 40 shares during the last quarter. Advisors Asset Management Inc. boosted its holdings in shares of Premier by 1.6% in the 2nd quarter. Advisors Asset Management Inc. now owns 4,461 shares of the company’s stock valued at $161,000 after purchasing an additional 72 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Premier by 4.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,664 shares of the company’s stock valued at $117,000 after purchasing an additional 149 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of 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. Finally, People s United Financial Inc. boosted its holdings in shares of Premier by 4.0% in the 2nd quarter. People s United Financial Inc. now owns 9,728 shares of the company’s stock valued at $350,000 after purchasing an additional 372 shares during the last quarter. Institutional investors own 37.75% of the company’s stock.
Premier Company Profile
Premier, Inc is a healthcare improvement company. The Company is uniting an alliance of approximately 3,750 United States hospitals and more than 130,000 other provider 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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