Premier, Inc. (PINC) Short Interest Down 24.4% in August
Premier, Inc. (NASDAQ:PINC) was the target of a significant decline in short interest in the month of August. As of August 15th, there was short interest totalling 3,219,411 shares, a decline of 24.4% from the July 31st total of 4,256,640 shares. Based on an average daily volume of 434,240 shares, the short-interest ratio is presently 7.4 days. Approximately 6.5% of the shares of the company are sold short.
A number of analysts have commented on the company. Jefferies Group LLC restated a “buy” rating and issued a $40.00 price objective on shares of Premier in a research report on Wednesday, August 9th. Zacks Investment Research lowered Premier from a “buy” rating to a “hold” rating in a research note on Friday, May 12th. Piper Jaffray Companies reiterated a “hold” rating on shares of Premier in a research note on Tuesday, August 22nd. William Blair reiterated an “ourperform” rating on shares of Premier in a research note on Tuesday, August 22nd. Finally, Bank of America Corporation upped their target price on Premier from $37.00 to $39.00 and gave the company a “buy” rating in a research note on Thursday, May 25th. Three equities 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. Premier currently has a consensus rating of “Hold” and an average target price of $38.38.
Premier (NASDAQ PINC) opened at 32.89 on Tuesday. Premier has a 12-month low of $28.27 and a 12-month high of $36.50. The company has a market cap of $1.75 billion, a P/E ratio of 21.78 and a beta of 0.46. The firm’s 50-day moving average price is $34.51 and its 200-day moving average price is $33.49.
Premier (NASDAQ:PINC) last posted its quarterly earnings results on Monday, August 21st. The company reported $0.50 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by $0.02. The firm had revenue of $403.10 million for the quarter, compared to analyst estimates of $400.45 million. Premier had a negative return on equity of 16.27% and a net margin of 0.66%. The business’s revenue was up 33.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.36 EPS. Analysts expect that Premier will post $2.06 EPS for the current year.
In other Premier news, SVP Leigh Anderson sold 1,099 shares of the business’s stock in a transaction on Monday, June 19th. The stock was sold at an average price of $35.29, for a total transaction of $38,783.71. Following the sale, the senior vice president now directly owns 7,655 shares in the company, valued at $270,144.95. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Susan D. Devore sold 40,000 shares of the business’s stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $35.24, for a total value of $1,409,600.00. Following the sale, the chief executive officer now owns 391,589 shares in the company, valued at $13,799,596.36. The disclosure for this sale can be found here. Insiders have sold 209,710 shares of company stock worth $7,308,296 in the last ninety days. 17.14% of the stock is currently owned by corporate insiders.
Several institutional investors have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Premier by 13.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,185 shares of the company’s stock worth $115,000 after buying an additional 384 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in Premier by 4.2% in the first quarter. PNC Financial Services Group Inc. now owns 3,664 shares of the company’s stock valued at $117,000 after buying an additional 149 shares during the period. Advisors Asset Management Inc. increased its stake in Premier by 49.8% in the first quarter. Advisors Asset Management Inc. now owns 4,389 shares of the company’s stock valued at $140,000 after buying an additional 1,459 shares during the period. The Manufacturers Life Insurance Company increased its stake in Premier by 7.8% in the second quarter. The Manufacturers Life Insurance Company now owns 4,373 shares of the company’s stock valued at $157,000 after buying an additional 315 shares during the period. Finally, Investment Counselors of Maryland LLC bought a new stake in Premier during the first quarter valued at $166,000.
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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