Premier (PINC) Earns Buy Rating from Analysts at Benchmark

Stock analysts at Benchmark began coverage on shares of Premier (NASDAQ:PINC) in a report released on Thursday. The firm set a “buy” rating and a $40.00 price target on the stock. Benchmark’s target price indicates a potential upside of 26.54% from the company’s previous close.

Other equities research analysts have also recently issued reports about the stock. BidaskClub upgraded shares of Premier from a “strong sell” rating to a “sell” rating in a report on Thursday, January 11th. Zacks Investment Research upgraded shares of Premier from a “hold” rating to a “buy” rating and set a $33.00 price target for the company in a report on Wednesday, January 10th. William Blair restated an “outperform” rating on shares of Premier in a report on Tuesday. Piper Jaffray Companies reiterated a “hold” rating on shares of Premier in a report on Wednesday. Finally, Evercore ISI started coverage on shares of Premier in a report on Thursday, January 18th. They set an “in-line” rating and a $33.50 price objective for the company. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Premier currently has a consensus rating of “Buy” and a consensus target price of $36.68.

Shares of Premier (PINC) opened at $31.61 on Thursday. The company has a market cap of $4,538.23, a price-to-earnings ratio of -9.70, a price-to-earnings-growth ratio of 1.40 and a beta of 0.50. Premier has a twelve month low of $27.16 and a twelve month high of $36.50.

Premier (NASDAQ:PINC) last posted its quarterly earnings results on Monday, February 5th. The company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. The business had revenue of $411.40 million during the quarter, compared to analysts’ expectations of $393.35 million. Premier had a net margin of 14.14% and a negative return on equity of 18.21%. The business’s quarterly revenue was up 14.8% on a year-over-year basis. During the same period last year, the company posted $0.46 earnings per share. equities research analysts forecast that Premier will post 1.93 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the company. State of Alaska Department of Revenue acquired a new position in shares of Premier during the fourth quarter valued at about $124,000. The Manufacturers Life Insurance Company grew its holdings in shares of Premier by 7.8% during the second quarter. The Manufacturers Life Insurance Company now owns 4,373 shares of the company’s stock valued at $157,000 after buying an additional 315 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Premier by 30.9% during the second quarter. PNC Financial Services Group Inc. now owns 4,796 shares of the company’s stock valued at $173,000 after buying an additional 1,132 shares during the last quarter. Suntrust Banks Inc. acquired a new position in shares of Premier during the second quarter valued at about $276,000. Finally, American Century Companies Inc. acquired a new position in shares of Premier during the fourth quarter valued at about $243,000. Hedge funds and other institutional investors own 39.52% of the company’s stock.

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About Premier

Premier, Inc is a healthcare improvement company. The Company is uniting an alliance of approximately 3,900 United States hospitals and health systems and approximately 150,000 other providers and 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.

Analyst Recommendations for Premier (NASDAQ:PINC)

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