Zacks Investment Research lowered shares of Premier (NASDAQ:PINC) from a hold rating to a sell rating in a research report sent to investors on Wednesday.

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 analysts also recently commented on the company. Barclays assumed coverage on Premier in a research note on Tuesday, September 25th. They issued an overweight rating on the stock. Leerink Swann set a $55.00 price objective on Premier and gave the stock a buy rating in a research note on Wednesday, August 22nd. Canaccord Genuity boosted their price objective on Premier from $38.00 to $42.00 and gave the stock a hold rating in a research note on Wednesday, August 22nd. Raymond James boosted their price objective on Premier from $37.00 to $49.00 and gave the stock an in-line rating in a research note on Wednesday, August 22nd. Finally, Benchmark reissued a buy rating and issued a $50.00 price objective (up previously from $40.00) on shares of Premier in a research note on Wednesday, August 22nd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Premier presently has an average rating of Buy and a consensus price target of $42.19.

Premier stock traded down $0.64 during mid-day trading on Wednesday, hitting $38.40. 4,904 shares of the company’s stock traded hands, compared to its average volume of 991,032. The company has a market capitalization of $5.21 billion, a P/E ratio of 54.84, a PEG ratio of 1.36 and a beta of 0.50. Premier has a one year low of $28.59 and a one year high of $47.22.

Premier (NASDAQ:PINC) last announced its earnings results on Tuesday, November 6th. The company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.05. The firm had revenue of $401.60 million for the quarter, compared to the consensus estimate of $412.79 million. Premier had a negative return on equity of 23.61% and a net margin of 32.31%. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.44 EPS. Equities research analysts predict that Premier will post 2.46 earnings per share for the current year.

In other Premier news, SVP David Alfred Hargraves sold 2,210 shares of the business’s stock in a transaction dated Tuesday, October 2nd. The stock was sold at an average price of $45.58, for a total value of $100,731.80. Following the completion of the sale, the senior vice president now owns 11,108 shares of the company’s stock, valued at $506,302.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Craig S. Mckasson sold 6,250 shares of the business’s stock in a transaction dated Thursday, November 15th. The stock was sold at an average price of $39.44, for a total value of $246,500.00. Following the completion of the sale, the insider now directly owns 85,709 shares of the company’s stock, valued at approximately $3,380,362.96. The disclosure for this sale can be found here. Insiders sold 10,648 shares of company stock worth $440,955 in the last 90 days. Corporate insiders own 18.30% of the company’s stock.

Several large investors have recently made changes to their positions in PINC. Vanguard Group Inc. lifted its position in shares of Premier by 3.9% during the 3rd quarter. Vanguard Group Inc. now owns 5,067,095 shares of the company’s stock worth $231,972,000 after purchasing an additional 190,635 shares during the last quarter. Jennison Associates LLC lifted its position in shares of Premier by 24.5% during the 2nd quarter. Jennison Associates LLC now owns 1,446,231 shares of the company’s stock worth $52,614,000 after purchasing an additional 284,729 shares during the last quarter. TIAA CREF Investment Management LLC lifted its position in shares of Premier by 6.1% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 1,305,807 shares of the company’s stock worth $59,780,000 after purchasing an additional 74,621 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of Premier by 1,599.8% during the 3rd quarter. Renaissance Technologies LLC now owns 1,290,171 shares of the company’s stock worth $59,064,000 after purchasing an additional 1,214,271 shares during the last quarter. Finally, First Trust Advisors LP lifted its position in shares of Premier by 51.8% during the 3rd quarter. First Trust Advisors LP now owns 919,467 shares of the company’s stock worth $42,093,000 after purchasing an additional 313,837 shares during the last quarter. 41.63% of the stock is owned by institutional investors.

About Premier

Premier, Inc, together with its subsidiaries, operates as a healthcare improvement company in the United States. The company operates through two segments, Supply Chain Services and Performance Services. The Supply Chain Services segment offers its members with access to a range of products and services, including medical and surgical products, pharmaceuticals, laboratory supplies, capital equipment, information technology, facilities and construction, and food and nutritional products, as well as purchased services, such as clinical engineering and document shredding services and software-as-a-service informatics products.

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