Premier (PINC) Coverage Initiated by Analysts at Citigroup
Citigroup initiated coverage on shares of Premier (NASDAQ:PINC) in a research note published on Thursday morning, The Fly reports. The firm issued a neutral rating on the stock.
Several other analysts also recently commented on PINC. JPMorgan Chase & Co. reissued a neutral rating and issued a $30.00 target price on shares of Premier in a research report on Tuesday, December 19th. Oppenheimer reissued a buy rating and issued a $40.00 target price on shares of Premier in a research report on Thursday, December 7th. Zacks Investment Research raised shares of Premier from a sell rating to a hold rating in a report on Thursday, November 23rd. SunTrust Banks decreased their price objective on shares of Premier to $36.00 and set a buy rating for the company in a report on Friday, November 17th. Finally, Robert W. Baird reaffirmed a buy rating and set a $35.00 price objective on shares of Premier in a report on Friday, November 10th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $37.44.
Premier (PINC) traded down $0.02 during trading on Thursday, reaching $29.86. 490,465 shares of the company’s stock traded hands, compared to its average volume of 744,667. The firm has a market cap of $4,170.00, a price-to-earnings ratio of -12.14, a PEG ratio of 1.33 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 released its quarterly earnings data on Monday, November 6th. The company reported $0.44 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.05). The company had revenue of $390.56 million during the quarter, compared to analyst estimates of $389.56 million. Premier had a net margin of 17.99% and a negative return on equity of 18.31%. The firm’s quarterly revenue was up 24.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.41 EPS. equities research analysts predict that Premier will post 1.87 earnings per share for the current fiscal year.
In related news, COO Michael J. Alkire sold 25,000 shares of the company’s stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $29.90, for a total transaction of $747,500.00. Following the completion of the transaction, the chief operating officer now directly owns 180,550 shares in the company, valued at approximately $5,398,445. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 17.52% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Premier by 13.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,185 shares of the company’s stock valued at $115,000 after buying an additional 384 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake 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 buying an additional 315 shares in the last quarter. Advisors Asset Management Inc. raised its stake 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 buying an additional 72 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Premier by 30.9% in the 2nd quarter. PNC Financial Services Group Inc. now owns 4,796 shares of the company’s stock valued at $173,000 after buying an additional 1,132 shares in the last quarter. Finally, Pacer Advisors Inc. raised its stake in shares of Premier by 11.6% in the 2nd quarter. Pacer Advisors Inc. now owns 7,426 shares of the company’s stock valued at $267,000 after buying an additional 774 shares in the last quarter. Hedge funds and other institutional investors own 38.37% 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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