Oppenheimer Reaffirms Buy Rating for Premier (PINC)
A number of other analysts have also commented on the company. Zacks Investment Research raised Premier from a sell rating to a hold rating in a report on Tuesday, September 5th. BidaskClub downgraded Premier from a sell rating to a strong sell rating in a research note on Wednesday, August 23rd. SunTrust Banks cut their target price on Premier to $36.00 and set a buy rating on the stock in a research note on Friday, November 17th. William Blair restated an ourperform rating on shares of Premier in a research note on Tuesday, August 22nd. Finally, Robert W. Baird restated a buy rating and issued a $35.00 target price on shares of Premier in a research note on Friday, November 10th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company. Premier currently has an average rating of Hold and an average price target of $38.38.
Shares of Premier (NASDAQ:PINC) traded up $0.32 on Thursday, reaching $29.78. The company’s stock had a trading volume of 914,647 shares, compared to its average volume of 971,715. The company has a market cap of $4,155.86, a price-to-earnings ratio of 16.64, a P/E/G ratio of 1.32 and a beta of 0.40. Premier has a 1 year low of $27.16 and a 1 year high of $36.50.
Premier (NASDAQ:PINC) last issued its quarterly earnings data on Monday, November 6th. The company reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.05). The company had revenue of $390.56 million for the quarter, compared to the consensus estimate of $389.56 million. Premier had a negative return on equity of 18.31% and a net margin of 17.99%. The business’s revenue for the quarter was up 24.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.41 earnings per share. research analysts forecast that Premier will post 1.87 earnings per share for the current year.
In other news, COO Michael J. Alkire sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $29.90, for a total value of $747,500.00. Following the transaction, the chief operating officer now owns 180,550 shares in the company, valued at approximately $5,398,445. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 17.52% of the stock is owned by insiders.
A number of institutional investors have recently bought and sold shares of PINC. Janus Henderson Group PLC purchased a new position in Premier in the second quarter valued at approximately $25,285,000. Jennison Associates LLC lifted its stake in Premier by 188.2% in the second quarter. Jennison Associates LLC now owns 712,104 shares of the company’s stock valued at $25,636,000 after purchasing an additional 465,012 shares during the last quarter. APG Asset Management N.V. purchased a new position in Premier in the third quarter valued at approximately $12,706,000. First Trust Advisors LP lifted its stake in Premier by 130.2% in the third quarter. First Trust Advisors LP now owns 658,789 shares of the company’s stock valued at $21,457,000 after purchasing an additional 372,650 shares during the last quarter. Finally, Citadel Advisors LLC lifted its stake in Premier by 37.7% in the second quarter. Citadel Advisors LLC now owns 1,193,181 shares of the company’s stock valued at $42,954,000 after purchasing an additional 326,899 shares during the last quarter. Institutional investors and hedge funds own 38.31% of the company’s stock.
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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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