Premier Inc. (PINC) Sees Strong Trading Volume
Premier Inc. (NASDAQ:PINC) shares saw strong trading volume on Friday . 626,476 shares were traded during mid-day trading, an increase of 63% from the previous session’s volume of 383,282 shares.The stock last traded at $32.75 and had previously closed at $32.41.
Several equities research analysts recently weighed in on the stock. Zacks Investment Research raised shares of Premier from a “sell” rating to a “hold” rating in a report on Friday, July 8th. Canaccord Genuity reaffirmed a “buy” rating and issued a $40.00 price objective on shares of Premier in a report on Wednesday, June 29th. Barclays PLC assumed coverage on shares of Premier in a report on Wednesday, June 1st. They issued an “overweight” rating and a $41.00 price objective for the company. KeyCorp reaffirmed a “buy” rating on shares of Premier in a report on Sunday, May 22nd. Finally, Oppenheimer Holdings Inc. reaffirmed a “buy” rating on shares of Premier in a report on Tuesday, May 10th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Premier presently has a consensus rating of “Buy” and an average target price of $39.86.
The stock has a market capitalization of $1.49 billion and a P/E ratio of 58.60. The company’s 50 day moving average price is $32.88 and its 200-day moving average price is $32.73.
Premier (NASDAQ:PINC) last released its quarterly earnings data on Monday, May 9th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.03. The company had revenue of $298.70 million for the quarter, compared to analyst estimates of $302.86 million. The business’s revenue was up 14.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.38 earnings per share. On average, equities research analysts predict that Premier Inc. will post $1.63 EPS for the current fiscal year.
In other Premier news, insider Durral R. Gilbert sold 20,000 shares of the stock in a transaction on Tuesday, July 12th. The stock was sold at an average price of $34.00, for a total transaction of $680,000.00. Following the completion of the transaction, the insider now directly owns 44,239 shares in the company, valued at $1,504,126. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP R. Wesley Champion sold 25,049 shares of the stock in a transaction on Friday, July 1st. The stock was sold at an average price of $33.23, for a total value of $832,378.27. Following the transaction, the vice president now owns 40,913 shares of the company’s stock, valued at $1,359,538.99. The disclosure for this sale can be found here.
Several hedge funds have made changes to their positions in the stock. Rhumbline Advisers raised its stake in shares of Premier by 3.2% in the fourth quarter. Rhumbline Advisers now owns 32,806 shares of the company’s stock worth $1,157,000 after buying an additional 1,020 shares during the period. Swiss National Bank raised its stake in shares of Premier by 13.3% in the fourth quarter. Swiss National Bank now owns 55,212 shares of the company’s stock worth $1,947,000 after buying an additional 6,500 shares during the period. California State Teachers Retirement System raised its stake in shares of Premier by 1.7% in the fourth quarter. California State Teachers Retirement System now owns 69,748 shares of the company’s stock worth $2,460,000 after buying an additional 1,147 shares during the period. First Trust Advisors LP raised its stake in shares of Premier by 49.9% in the fourth quarter. First Trust Advisors LP now owns 103,881 shares of the company’s stock worth $3,664,000 after buying an additional 34,589 shares during the period. Finally, California Public Employees Retirement System raised its stake in shares of Premier by 24.7% in the fourth quarter. California Public Employees Retirement System now owns 124,600 shares of the company’s stock worth $4,395,000 after buying an additional 24,700 shares during the period.
Premier, Inc is a healthcare improvement company. The Company is uniting an alliance of approximately 3,600 United States hospitals and approximately 120,000 other providers 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.
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