Premier, Inc. (PINC) Stock Rating Reaffirmed by Robert W. Baird
PINC has been the topic of a number of other reports. Piper Jaffray Companies reiterated a hold rating on shares of Premier in a research note on Tuesday, August 22nd. KeyCorp reiterated a buy rating and set a $42.00 price objective on shares of Premier in a research note on Wednesday, October 4th. Zacks Investment Research upgraded Premier from a sell rating to a hold rating in a research note on Tuesday, October 3rd. BidaskClub lowered Premier from a sell rating to a strong sell rating in a research note on Wednesday, August 23rd. Finally, William Blair reiterated an ourperform rating on shares of Premier in a research note on Tuesday, August 22nd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company’s stock. Premier currently has a consensus rating of Hold and a consensus target price of $38.71.
Shares of Premier (PINC) opened at $27.94 on Friday. Premier has a one year low of $27.16 and a one year high of $36.50. The stock has a market capitalization of $3,878.15, a price-to-earnings ratio of 15.52, a P/E/G ratio of 1.24 and a beta of 0.46.
Premier (NASDAQ:PINC) last released its quarterly earnings data on Monday, November 6th. The company reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.05). Premier had a net margin of 17.99% and a negative return on equity of 18.31%. The company had revenue of $390.56 million for the quarter, compared to the consensus estimate of $389.56 million. During the same quarter in the previous year, the firm posted $0.41 earnings per share. The business’s revenue for the quarter was up 24.7% compared to the same quarter last year. equities analysts expect that Premier will post 1.87 EPS for the current year.
Premier declared that its Board of Directors has authorized a share repurchase program on Tuesday, October 31st that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
In other news, COO Michael J. Alkire sold 25,000 shares of the stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $29.90, for a total transaction of $747,500.00. Following the transaction, the chief operating officer now directly owns 180,550 shares in the company, valued at approximately $5,398,445. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Leigh Anderson sold 2,264 shares of the stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $32.73, for a total value of $74,100.72. Following the transaction, the senior vice president now owns 14,654 shares in the company, valued at $479,625.42. The disclosure for this sale can be found here. Insiders sold a total of 92,264 shares of company stock worth $2,962,701 over the last 90 days. Corporate insiders own 17.52% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Suntrust Banks Inc. bought a new position in shares of Premier during the 2nd quarter valued at about $276,000. Citadel Advisors LLC increased its position in shares of Premier by 37.7% during the 2nd 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. Vanguard Group Inc. increased its position in shares of Premier by 7.4% during the 2nd quarter. Vanguard Group Inc. now owns 4,345,748 shares of the company’s stock valued at $156,447,000 after purchasing an additional 300,387 shares during the last quarter. Marshall Wace North America L.P. increased its position in shares of Premier by 69.8% during the 2nd quarter. Marshall Wace North America L.P. now owns 57,206 shares of the company’s stock valued at $2,059,000 after purchasing an additional 23,511 shares during the last quarter. Finally, Seminole Management Co. Inc. bought a new position in shares of Premier during the 2nd quarter valued at about $432,000. Hedge funds and other institutional investors own 38.22% of the company’s stock.
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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