Premier Inc (PINC) Receives Consensus Rating of “Buy” from Analysts

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Premier Inc (NASDAQ:PINC) has been given a consensus recommendation of “Buy” by the seventeen analysts that are currently covering the firm, MarketBeat Ratings reports. Seven analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $37.32.

PINC has been the subject of several research analyst reports. Bank of America initiated coverage on Premier in a research note on Tuesday, February 27th. They set a “buy” rating and a $39.00 target price for the company. Zacks Investment Research downgraded Premier from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 14th. BidaskClub downgraded Premier from a “hold” rating to a “sell” rating in a research note on Thursday, April 12th. ValuEngine cut Premier from a “hold” rating to a “sell” rating in a report on Tuesday, May 8th. Finally, Credit Suisse Group reduced their price target on Premier from $42.00 to $38.00 and set an “outperform” rating on the stock in a report on Wednesday, May 9th.

In other news, VP Kelli L. Price sold 4,000 shares of the business’s stock in a transaction dated Monday, June 11th. The stock was sold at an average price of $35.00, for a total transaction of $140,000.00. Following the sale, the vice president now directly owns 18,678 shares in the company, valued at $653,730. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Leigh Anderson sold 1,177 shares of the company’s stock in a transaction that occurred on Friday, March 23rd. The shares were sold at an average price of $31.85, for a total value of $37,487.45. Following the completion of the sale, the senior vice president now owns 10,784 shares in the company, valued at $343,470.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,427 shares of company stock worth $376,675. Company insiders own 17.52% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. Amalgamated Bank boosted its holdings in Premier by 17.5% in the fourth quarter. Amalgamated Bank now owns 10,970 shares of the company’s stock valued at $320,000 after acquiring an additional 1,631 shares during the last quarter. Rhumbline Advisers boosted its holdings in Premier by 2.9% in the first quarter. Rhumbline Advisers now owns 64,856 shares of the company’s stock valued at $2,031,000 after acquiring an additional 1,853 shares during the last quarter. Aperio Group LLC boosted its holdings in Premier by 12.0% in the first quarter. Aperio Group LLC now owns 18,135 shares of the company’s stock valued at $568,000 after acquiring an additional 1,945 shares during the last quarter. Northern Trust Corp boosted its holdings in Premier by 0.4% in the first quarter. Northern Trust Corp now owns 434,860 shares of the company’s stock valued at $13,616,000 after acquiring an additional 1,945 shares during the last quarter. Finally, Xact Kapitalforvaltning AB boosted its holdings in Premier by 28.2% in the first quarter. Xact Kapitalforvaltning AB now owns 9,095 shares of the company’s stock valued at $285,000 after acquiring an additional 2,000 shares during the last quarter. Institutional investors and hedge funds own 42.78% of the company’s stock.

NASDAQ PINC traded down $0.08 during trading on Friday, hitting $35.42. 499,900 shares of the company’s stock were exchanged, compared to its average volume of 669,422. The company has a current ratio of 0.77, a quick ratio of 0.66 and a debt-to-equity ratio of -0.01. The company has a market cap of $4.66 billion, a price-to-earnings ratio of 22.00, a PEG ratio of 1.35 and a beta of 0.47. Premier has a fifty-two week low of $27.16 and a fifty-two week high of $36.50.

Premier (NASDAQ:PINC) last issued its earnings results on Monday, May 7th. The company reported $0.67 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.01. The firm had revenue of $425.30 million during the quarter, compared to the consensus estimate of $408.06 million. Premier had a negative return on equity of 21.96% and a net margin of 23.33%. The business’s quarterly revenue was up 12.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.52 earnings per share. sell-side analysts predict that Premier will post 2.09 earnings per share for the current year.

Premier Company Profile

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.

Analyst Recommendations for Premier (NASDAQ:PINC)

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