Premier, Inc. (NASDAQ:PINC) Cut to Sell at Zacks Investment Research
Zacks Investment Research lowered shares of Premier, Inc. (NASDAQ:PINC) from a hold rating to a sell rating in a research note published on Wednesday morning.
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. “
A number of other equities analysts have also issued reports on PINC. Bank of America Corporation upgraded shares of Premier from an underperform rating to a buy rating and set a $37.00 target price on the stock in a research report on Tuesday, March 28th. Jefferies Group LLC restated a buy rating and set a $40.00 target price on shares of Premier in a research report on Thursday, April 13th. Finally, UBS AG restated a neutral rating and set a $35.00 target price (up from $34.00) on shares of Premier in a research report on Thursday, May 25th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and twelve have issued a buy rating to the company. Premier has an average rating of Buy and a consensus target price of $38.25.
Premier (NASDAQ PINC) traded down 1.30% during mid-day trading on Wednesday, hitting $35.68. 219,992 shares of the stock traded hands. The company has a 50 day moving average of $35.00 and a 200-day moving average of $32.57. The stock has a market cap of $1.85 billion, a PE ratio of 16.82 and a beta of 0.47. Premier has a 12-month low of $28.27 and a 12-month high of $36.50.
Premier (NASDAQ:PINC) last announced its earnings results on Monday, May 8th. The company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.05. The business had revenue of $379.80 million for the quarter, compared to analyst estimates of $401.71 million. Premier had a net margin of 31.41% and a negative return on equity of 13.95%. The company’s revenue for the quarter was up 27.2% compared to the same quarter last year. During the same period last year, the firm posted $0.44 earnings per share. Equities research analysts forecast that Premier will post $1.91 earnings per share for the current year.
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In related news, insider Craig S. Mckasson sold 10,750 shares of the business’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $34.84, for a total value of $374,530.00. Following the completion of the transaction, the insider now owns 74,505 shares of the company’s stock, valued at approximately $2,595,754.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Susan D. Devore sold 40,000 shares of the business’s stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $35.24, for a total transaction of $1,409,600.00. Following the completion of the transaction, the chief executive officer now directly owns 391,589 shares of the company’s stock, valued at approximately $13,799,596.36. The disclosure for this sale can be found here. Insiders sold a total of 184,710 shares of company stock valued at $6,490,663 in the last three months. 17.14% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. FMR LLC increased its position in shares of Premier by 1.2% in the first quarter. FMR LLC now owns 7,605,279 shares of the company’s stock valued at $242,076,000 after buying an additional 92,394 shares during the last quarter. Vanguard Group Inc. boosted its stake in Premier by 7.9% in the first quarter. Vanguard Group Inc. now owns 4,045,361 shares of the company’s stock valued at $128,764,000 after buying an additional 297,758 shares during the period. TimesSquare Capital Management LLC boosted its stake in Premier by 1.0% in the first quarter. TimesSquare Capital Management LLC now owns 2,638,000 shares of the company’s stock valued at $83,968,000 after buying an additional 27,300 shares during the period. Los Angeles Capital Management & Equity Research Inc. boosted its stake in Premier by 561.3% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 1,676,451 shares of the company’s stock valued at $53,361,000 after buying an additional 1,422,955 shares during the period. Finally, Westwood Holdings Group Inc. boosted its stake in Premier by 5.9% in the first quarter. Westwood Holdings Group Inc. now owns 1,351,917 shares of the company’s stock valued at $43,032,000 after buying an additional 75,426 shares during the period.
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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