Zacks Investment Research Lowers Premier (NASDAQ:PINC) to Hold

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Zacks Investment Research downgraded shares of Premier (NASDAQ:PINC) from a buy rating to a hold rating in a research report report published on Wednesday morning, Zacks.com reports.

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. “

PINC has been the topic of several other reports. Svb Leerink downgraded Premier from an outperform rating to a market perform rating in a research note on Wednesday, April 10th. Guggenheim raised their price target on Zillow Group from $45.00 to $50.00 in a research note on Tuesday, June 18th. BidaskClub downgraded Xencor from a sell rating to a strong sell rating in a research note on Tuesday, June 11th. Leerink Swann downgraded Premier from an outperform rating to a market perform rating and set a $36.00 price target on the stock. in a research note on Wednesday, April 10th. Finally, Citigroup downgraded BCE from a buy rating to a neutral rating in a research note on Thursday, May 2nd. Ten analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Premier has a consensus rating of Hold and an average price target of $43.45.

Shares of PINC opened at $38.93 on Wednesday. The company’s fifty day simple moving average is $38.15. Premier has a 12 month low of $31.31 and a 12 month high of $47.22. The stock has a market cap of $4.98 billion, a P/E ratio of 16.90, a price-to-earnings-growth ratio of 1.33 and a beta of 0.35.

Premier (NASDAQ:PINC) last issued its earnings results on Tuesday, May 7th. The company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.61 by $0.05. Premier had a negative return on equity of 27.23% and a net margin of 21.50%. The business had revenue of $422.90 million for the quarter, compared to the consensus estimate of $432.94 million. During the same period last year, the business posted $0.67 EPS. The company’s revenue was down .6% compared to the same quarter last year. Research analysts forecast that Premier will post 2.45 earnings per share for the current year.

In related news, SVP David Alfred Hargraves sold 1,037 shares of Premier stock in a transaction on Friday, June 14th. The stock was sold at an average price of $37.61, for a total transaction of $39,001.57. Following the transaction, the senior vice president now directly owns 10,024 shares in the company, valued at $377,002.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Craig S. Mckasson sold 50,000 shares of Premier stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $37.54, for a total value of $1,877,000.00. Following the transaction, the chief financial officer now owns 135,709 shares in the company, valued at $5,094,515.86. The disclosure for this sale can be found here. Company insiders own 18.30% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its position in Premier by 5.8% during the fourth quarter. BlackRock Inc. now owns 2,501,972 shares of the company’s stock valued at $93,451,000 after purchasing an additional 137,075 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Premier by 0.4% during the first quarter. JPMorgan Chase & Co. now owns 2,328,048 shares of the company’s stock valued at $80,294,000 after purchasing an additional 9,080 shares in the last quarter. Rice Hall James & Associates LLC lifted its position in Premier by 1.8% during the first quarter. Rice Hall James & Associates LLC now owns 2,179,537 shares of the company’s stock valued at $75,172,000 after purchasing an additional 38,104 shares in the last quarter. River Road Asset Management LLC lifted its position in Premier by 74.1% during the first quarter. River Road Asset Management LLC now owns 1,928,936 shares of the company’s stock valued at $66,529,000 after purchasing an additional 821,033 shares in the last quarter. Finally, APG Asset Management N.V. lifted its position in Premier by 14.4% during the fourth quarter. APG Asset Management N.V. now owns 1,921,700 shares of the company’s stock valued at $62,787,000 after purchasing an additional 241,900 shares in the last quarter. Institutional investors own 48.30% of the company’s stock.

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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