Robert W. Baird set a $46.00 price target on Premier (NASDAQ:PINC) in a research report released on Thursday, TipRanks reports. The brokerage currently has a buy rating on the stock.
A number of other analysts have also issued reports on PINC. Credit Suisse Group reissued a neutral rating and set a $42.00 target price (down from $43.00) on shares of Premier in a research note on Tuesday, August 13th. Canaccord Genuity set a $36.00 target price on shares of Premier and gave the company a hold rating in a research note on Wednesday, August 21st. Piper Jaffray Companies reissued a hold rating on shares of Premier in a research note on Thursday, August 22nd. BidaskClub lowered shares of Premier from a hold rating to a sell rating in a research note on Saturday, September 7th. Finally, ValuEngine lowered shares of Premier from a hold rating to a sell rating in a research note on Wednesday, September 25th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of Hold and an average target price of $42.00.
NASDAQ PINC traded down $0.28 on Thursday, hitting $28.92. 1,642,033 shares of the stock were exchanged, compared to its average volume of 675,528. The stock has a fifty day moving average price of $35.59 and a two-hundred day moving average price of $36.48. The firm has a market capitalization of $3.78 billion, a P/E ratio of 12.74, a P/E/G ratio of 1.24 and a beta of 0.33. Premier has a 52-week low of $28.21 and a 52-week high of $47.22.
Premier (NASDAQ:PINC) last posted its quarterly earnings data on Tuesday, August 20th. The company reported $0.57 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.04). The firm had revenue of $316.20 million for 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 firm’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.70 earnings per share. On average, research analysts forecast that Premier will post 2.66 earnings per share for the current year.
In related news, SVP David Alfred Hargraves sold 2,015 shares of the company’s 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 completion of the sale, the senior vice president now directly owns 22,106 shares of the company’s stock, valued at $774,815.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director William E. Mayer sold 4,000 shares of the company’s 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 sale, the director now directly owns 13,763 shares of the company’s stock, valued at $515,424.35. The disclosure for this sale can be found here. Insiders have sold 11,315 shares of company stock valued at $416,586 over the last three months. Insiders own 18.30% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. CIBC Asset Management Inc purchased a new stake in Premier in the second quarter worth about $204,000. Trexquant Investment LP purchased a new stake in Premier in the second quarter worth about $579,000. Riverhead Capital Management LLC lifted its stake in Premier by 13.1% in the second quarter. Riverhead Capital Management LLC now owns 17,200 shares of the company’s stock worth $673,000 after acquiring an additional 1,990 shares during the period. SG Americas Securities LLC purchased a new stake in Premier in the second quarter worth about $1,264,000. Finally, GAM Holding AG purchased a new stake in Premier in the first quarter worth about $1,498,000. 49.45% of the stock is owned by institutional investors.
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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