Premier (PINC) Upgraded at BidaskClub

BidaskClub upgraded shares of Premier (NASDAQ:PINC) from a sell rating to a hold rating in a research report report published on Wednesday morning, BidAskClub reports.

A number of other research analysts have also commented on PINC. Zacks Investment Research raised shares of Premier from a sell rating to a hold rating in a research report on Tuesday, December 25th. UBS Group started coverage on shares of Premier in a research report on Thursday, January 17th. They set a buy rating and a $45.00 price objective for the company. ValuEngine lowered shares of Premier from a buy rating to a hold rating in a research report on Thursday, February 7th. Leerink Swann lowered shares of Premier from an outperform rating to a market perform rating and set a $36.00 price objective for the company. in a research report on Wednesday, April 10th. Finally, Svb Leerink lowered shares of Premier from an outperform rating to a market perform rating in a research report on Wednesday, April 10th. Nine analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $43.70.

Premier stock opened at $33.59 on Wednesday. The firm has a market cap of $4.35 billion, a price-to-earnings ratio of 47.99, a PEG ratio of 1.22 and a beta of 0.49. Premier has a fifty-two week low of $28.81 and a fifty-two week high of $47.22.

Premier (NASDAQ:PINC) last released its earnings results on Tuesday, February 5th. The company reported $0.66 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.08. The firm had revenue of $421.86 million during the quarter, compared to analyst estimates of $417.09 million. Premier had a net margin of 21.63% and a negative return on equity of 25.06%. The business’s revenue was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.50 EPS. Equities analysts expect that Premier will post 2.43 earnings per share for the current year.

In related news, insider Craig S. Mckasson sold 50,000 shares of the company’s stock in a transaction dated Friday, February 15th. The shares were sold at an average price of $37.55, for a total value of $1,877,500.00. Following the sale, the insider now owns 135,709 shares of the company’s stock, valued at $5,095,872.95. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Stephen R. D’arcy sold 3,733 shares of the company’s stock in a transaction dated Friday, February 8th. The shares were sold at an average price of $36.90, for a total transaction of $137,747.70. Following the completion of the sale, the director now directly owns 10,676 shares in the company, valued at approximately $393,944.40. The disclosure for this sale can be found here. 18.30% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Brinker Capital Inc. increased its stake in Premier by 5.5% in the fourth quarter. Brinker Capital Inc. now owns 27,641 shares of the company’s stock valued at $1,032,000 after acquiring an additional 1,441 shares during the period. Squarepoint Ops LLC increased its stake in Premier by 42.1% in the fourth quarter. Squarepoint Ops LLC now owns 26,092 shares of the company’s stock valued at $975,000 after acquiring an additional 7,729 shares during the period. Reinhart Partners Inc. increased its stake in Premier by 65.6% in the first quarter. Reinhart Partners Inc. now owns 162,450 shares of the company’s stock valued at $5,603,000 after acquiring an additional 64,330 shares during the period. Teacher Retirement System of Texas increased its stake in Premier by 4,523.2% in the fourth quarter. Teacher Retirement System of Texas now owns 286,225 shares of the company’s stock valued at $10,691,000 after acquiring an additional 280,034 shares during the period. Finally, LPL Financial LLC bought a new stake in Premier in the third quarter valued at about $203,000. 48.11% of the stock is currently 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.

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Analyst Recommendations for Premier (NASDAQ:PINC)

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