Premier (NASDAQ:PINC) Price Target Cut to $37.00

Share on StockTwits

Premier (NASDAQ:PINC) had its target price trimmed by Credit Suisse Group from $38.00 to $37.00 in a research report sent to investors on Tuesday morning, BenzingaRatingsTable reports. The firm currently has a neutral rating on the stock.

Several other equities research analysts have also recently weighed in on PINC. Canaccord Genuity upgraded Premier from a hold rating to a buy rating and set a $36.00 target price for the company in a research note on Tuesday, October 15th. Robert W. Baird dropped their price target on Premier from $41.00 to $36.00 and set a neutral rating for the company in a research note on Wednesday, February 5th. Evercore ISI reiterated a hold rating on shares of Premier in a research note on Monday, November 11th. Zacks Investment Research upgraded Premier from a hold rating to a buy rating and set a $35.00 price target for the company in a research note on Saturday, February 8th. Finally, Barclays reiterated a buy rating and issued a $44.00 price target on shares of Premier in a research note on Sunday, January 19th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $39.45.

NASDAQ PINC opened at $32.00 on Tuesday. The business has a fifty day moving average price of $35.25 and a two-hundred day moving average price of $35.57. Premier has a fifty-two week low of $27.37 and a fifty-two week high of $40.13. The stock has a market capitalization of $3.90 billion, a PE ratio of 13.07, a PEG ratio of 1.13 and a beta of 0.38.

Premier (NASDAQ:PINC) last released its earnings results on Tuesday, February 4th. The company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.06. Premier had a negative return on equity of 64.10% and a negative net margin of 21.22%. The firm had revenue of $319.60 million during the quarter, compared to analysts’ expectations of $307.12 million. During the same period in the prior year, the company earned $0.66 earnings per share. The company’s quarterly revenue was up 3.9% on a year-over-year basis. On average, equities research analysts expect that Premier will post 2.68 earnings per share for the current year.

In other news, CFO Craig S. Mckasson sold 84,366 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $37.61, for a total value of $3,173,005.26. Following the completion of the transaction, the chief financial officer now directly owns 166,284 shares in the company, valued at approximately $6,253,941.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Craig S. Mckasson sold 8,149 shares of the stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $37.01, for a total value of $301,594.49. Following the completion of the transaction, the chief financial officer now owns 120,200 shares of the company’s stock, valued at $4,448,602. The disclosure for this sale can be found here. Insiders sold a total of 94,700 shares of company stock valued at $3,555,484 over the last quarter. 17.67% of the stock is owned by corporate insiders.

A number of large investors have recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA raised its position in Premier by 2.2% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 6,191,160 shares of the company’s stock worth $234,521,000 after purchasing an additional 134,866 shares during the last quarter. River Road Asset Management LLC raised its position in Premier by 20.3% during the 4th quarter. River Road Asset Management LLC now owns 4,248,141 shares of the company’s stock worth $160,920,000 after purchasing an additional 716,082 shares during the last quarter. Renaissance Technologies LLC raised its position in Premier by 3.0% during the 4th quarter. Renaissance Technologies LLC now owns 3,680,209 shares of the company’s stock worth $139,406,000 after purchasing an additional 107,600 shares during the last quarter. Bank of New York Mellon Corp raised its position in Premier by 4.0% during the 4th quarter. Bank of New York Mellon Corp now owns 1,578,958 shares of the company’s stock worth $59,811,000 after purchasing an additional 60,608 shares during the last quarter. Finally, Credit Suisse AG raised its position in Premier by 1.0% during the 4th quarter. Credit Suisse AG now owns 1,229,068 shares of the company’s stock worth $46,556,000 after purchasing an additional 12,042 shares during the last quarter. 53.88% of the stock is owned by institutional investors and hedge funds.

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.

Read More: Guidelines for Successful Channel Trading

Analyst Recommendations for Premier (NASDAQ:PINC)

Receive News & Ratings for Premier Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Premier and related companies with MarketBeat.com's FREE daily email newsletter.

 


Latest News

Yu Darvish Receives Cortisone Shot for Elbow Impingement
Yu Darvish Receives Cortisone Shot for Elbow Impingement
Red Sox and Brandon Phillips Agree to Minor League Deal
Red Sox and Brandon Phillips Agree to Minor League Deal
Chris Sale Proves He is 2018 AL Cy Young Candidate
Chris Sale Proves He is 2018 AL Cy Young Candidate
Strong Results by Clint Frazier Could Keep Him with Yankees
Strong Results by Clint Frazier Could Keep Him with Yankees
Giants Closer Breaks Hand Punching Door Following Poor Outing
Giants Closer Breaks Hand Punching Door Following Poor Outing
Evan Longoria Out Six to Eight Weeks With Broken Hand
Evan Longoria Out Six to Eight Weeks With Broken Hand


 
© 2006-2020 BBNS.