A number of other equities analysts have also issued reports on PINC. Robert W. Baird set a $46.00 target price on Premier and gave the stock a “buy” rating in a research note on Thursday, September 26th. Zacks Investment Research upgraded Premier from a “sell” rating to a “hold” rating in a research note on Friday, August 16th. Credit Suisse Group restated a “neutral” rating and issued a $42.00 target price (down previously from $43.00) on shares of Premier in a research note on Tuesday, August 13th. Jefferies Financial Group set a $43.00 target price on Premier and gave the stock a “buy” rating in a research note on Thursday, September 26th. Finally, Guggenheim started coverage on Premier in a research note on Tuesday, June 18th. They issued a “neutral” rating and a $41.00 target price for the company. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $42.00.
Shares of PINC traded up $0.96 during midday trading on Friday, hitting $30.23. 966,198 shares of the company’s stock traded hands, compared to its average volume of 1,283,647. Premier has a 1 year low of $27.37 and a 1 year high of $47.22. The firm’s fifty day moving average is $33.38 and its 200-day moving average is $36.17. The stock has a market capitalization of $3.69 billion, a price-to-earnings ratio of 12.89, a price-to-earnings-growth ratio of 1.20 and a beta of 0.32.
Premier (NASDAQ:PINC) last issued its earnings results on Tuesday, August 20th. The company reported $0.57 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.61 by ($0.04). The firm had revenue of $316.20 million during the quarter, compared to analysts’ expectations of $426.69 million. Premier had a negative return on equity of 29.70% and a net margin of 17.30%. The business’s revenue was up 1.2% on a year-over-year basis. During the same quarter last year, the business earned $0.70 EPS. As a group, research analysts expect that Premier will post 2.66 EPS for the current fiscal year.
In other Premier news, Director William E. Mayer sold 4,000 shares of Premier stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $37.45, for a total transaction of $149,800.00. Following the completion of the transaction, the director now owns 13,763 shares in the company, valued at approximately $515,424.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP David Alfred Hargraves sold 2,015 shares of Premier stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $35.05, for a total value of $70,625.75. Following the transaction, the senior vice president now owns 22,106 shares of the company’s stock, valued at approximately $774,815.30. The disclosure for this sale can be found here. Insiders have sold a total of 11,315 shares of company stock valued at $416,586 in the last quarter. Company insiders own 18.30% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in PINC. Fort L.P. raised its stake in shares of Premier by 33.1% during the 1st quarter. Fort L.P. now owns 55,499 shares of the company’s stock valued at $1,914,000 after buying an additional 13,811 shares during the last quarter. Mission Wealth Management LP purchased a new position in shares of Premier during the 1st quarter valued at about $236,000. Quantinno Capital Management LP purchased a new position in shares of Premier during the 1st quarter valued at about $832,000. Nordea Investment Management AB raised its stake in shares of Premier by 2.0% during the 1st quarter. Nordea Investment Management AB now owns 104,894 shares of the company’s stock valued at $3,618,000 after buying an additional 2,041 shares during the last quarter. Finally, WINTON GROUP Ltd grew its position in shares of Premier by 8.9% during the 2nd quarter. WINTON GROUP Ltd now owns 14,465 shares of the company’s stock valued at $566,000 after acquiring an additional 1,188 shares during the period. Institutional investors and hedge funds own 49.45% of the company’s stock.
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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