Premier Inc. (NASDAQ:PINC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.
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. “
Other equities research analysts also recently issued research reports about the stock. Credit Suisse Group AG began coverage on shares of Premier in a research report on Friday, August 5th. They issued an “outperform” rating and a $39.00 target price for the company. Barclays PLC decreased their price target on shares of Premier from $41.00 to $39.00 and set an “overweight” rating for the company in a report on Tuesday, August 23rd. JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of Premier in a report on Friday, October 28th. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating on shares of Premier in a report on Tuesday, August 23rd. Finally, Robert W. Baird decreased their price target on shares of Premier from $41.00 to $39.00 and set an “outperform” rating for the company in a report on Tuesday, August 23rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $37.08.
Premier (NASDAQ:PINC) opened at 29.98 on Thursday. Premier has a one year low of $28.27 and a one year high of $37.00. The stock has a market capitalization of $1.50 billion, a PE ratio of 22.22 and a beta of 0.55. The firm has a 50-day moving average of $30.93 and a 200-day moving average of $31.97.
Premier (NASDAQ:PINC) last released its earnings results on Monday, November 7th. The company reported $0.41 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.01. The company earned $313.30 million during the quarter, compared to the consensus estimate of $319.09 million. Premier had a net margin of 34.65% and a negative return on equity of 9.50%. The company’s revenue was up 15.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.38 EPS. On average, equities research analysts forecast that Premier will post $1.81 earnings per share for the current year.
In other news, VP R. Wesley Champion sold 7,108 shares of the company’s stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $31.47, for a total value of $223,688.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 17.14% of the stock is currently owned by insiders.
Hedge funds have recently modified their holdings of the company. Meeder Asset Management Inc. bought a new stake in shares of Premier during the second quarter worth $105,000. Advisors Asset Management Inc. increased its stake in Premier by 25.0% in the third quarter. Advisors Asset Management Inc. now owns 3,583 shares of the company’s stock worth $116,000 after buying an additional 717 shares during the last quarter. Bronfman E.L. Rothschild L.P. increased its stake in Premier by 843.8% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 3,577 shares of the company’s stock worth $116,000 after buying an additional 3,198 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new stake in Premier during the third quarter worth approximately $132,000. Finally, Panagora Asset Management Inc. acquired a new stake in Premier during the second quarter worth approximately $152,000. 89.43% of the stock is owned by institutional investors.
Premier Company Profile
Premier, Inc is a healthcare improvement company. The Company is uniting an alliance of approximately 3,750 United States hospitals and more than 130,000 other provider organizations 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.