Shares of Premier Inc. (NASDAQ:PINC) have been assigned a consensus recommendation of “Buy” from the sixteen brokerages that are currently covering the company. Three analysts have rated the stock with a hold recommendation and thirteen have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $38.50.
Several research analysts have issued reports on PINC shares. Robert W. Baird dropped their price target on Premier from $41.00 to $39.00 and set an “outperform” rating on the stock in a report on Tuesday, August 23rd. Zacks Investment Research raised Premier from a “sell” rating to a “hold” rating in a report on Wednesday, August 10th. Canaccord Genuity reaffirmed a “buy” rating and issued a $43.00 price target on shares of Premier in a report on Tuesday, August 23rd. Credit Suisse Group AG started coverage on Premier in a report on Friday, August 5th. They issued an “outperform” rating and a $39.00 price target on the stock. Finally, Evercore ISI cut Premier from a “buy” rating to a “hold” rating and dropped their price target for the company from $36.50 to $34.00 in a report on Tuesday, August 23rd.
Premier (NASDAQ:PINC) opened at 32.34 on Tuesday. The stock has a market capitalization of $1.53 billion, a price-to-earnings ratio of 24.26 and a beta of 0.55. Premier has a 12 month low of $29.68 and a 12 month high of $37.24. The company has a 50 day moving average price of $31.88 and a 200 day moving average price of $32.69.
Premier (NASDAQ:PINC) last posted its quarterly earnings results on Monday, August 22nd. The company reported $0.36 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by $0.02. The company earned $301.40 million during the quarter. Premier had a net margin of 110.54% and a negative return on equity of 8.33%. The business’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.36 earnings per share. Equities research analysts predict that Premier will post $1.77 earnings per share for the current year.
In other Premier news, Director Stephen R. D’arcy acquired 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 25th. The stock was purchased at an average cost of $30.91 per share, for a total transaction of $123,640.00. Following the completion of the acquisition, the director now owns 14,042 shares of the company’s stock, valued at approximately $434,038.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP R. Wesley Champion sold 7,108 shares of the company’s stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $31.47, for a total transaction of $223,688.76. The disclosure for this sale can be found here. 17.31% of the stock is currently owned by corporate insiders.
A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Premier by 4.3% in the second quarter. Vanguard Group Inc. now owns 3,289,991 shares of the company’s stock worth $107,583,000 after buying an additional 136,186 shares in the last quarter. TimesSquare Capital Management LLC boosted its stake in shares of Premier by 0.5% in the first quarter. TimesSquare Capital Management LLC now owns 2,652,100 shares of the company’s stock worth $88,474,000 after buying an additional 14,100 shares in the last quarter. Neuberger Berman Group LLC boosted its stake in shares of Premier by 5.3% in the second quarter. Neuberger Berman Group LLC now owns 2,304,717 shares of the company’s stock worth $75,364,000 after buying an additional 116,567 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Premier by 9.0% in the second quarter. JPMorgan Chase & Co. now owns 1,825,283 shares of the company’s stock worth $59,687,000 after buying an additional 150,044 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. acquired a new stake in shares of Premier during the second quarter worth about $51,574,000. Hedge funds and other institutional investors own 99.13% of the company’s stock.
Premier, Inc is a healthcare improvement company. The Company is uniting an alliance of approximately 3,600 United States hospitals and approximately 120,000 other providers 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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