Premier Inc. (PINC) Sees Strong Trading Volume
Shares of Premier Inc. (NASDAQ:PINC) saw unusually-high trading volume on Wednesday . Approximately 777,826 shares were traded during trading, an increase of 74% from the previous session’s volume of 448,030 shares.The stock last traded at $33.21 and had previously closed at $32.76.
PINC has been the subject of a number of recent research reports. Zacks Investment Research raised Premier from a “sell” rating to a “hold” rating in a report on Monday, May 30th. Canaccord Genuity reissued a “buy” rating and set a $40.00 price objective on shares of Premier in a report on Wednesday, June 29th. Jefferies Group reissued a “buy” rating on shares of Premier in a report on Monday, April 11th. Oppenheimer Holdings Inc. reissued a “buy” rating on shares of Premier in a report on Tuesday, May 10th. Finally, KeyCorp reissued a “buy” rating on shares of Premier in a report on Sunday, May 22nd. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $39.86.
The company’s 50-day moving average is $32.42 and its 200-day moving average is $32.89. The stock has a market cap of $1.51 billion and a price-to-earnings ratio of 59.52.
Premier (NASDAQ:PINC) last issued its quarterly earnings data on Monday, May 9th. The company reported $0.44 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.03. The company earned $298.70 million during the quarter, compared to analysts’ expectations of $302.86 million. The business’s quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter last year, the business earned $0.38 earnings per share. Analysts expect that Premier Inc. will post $1.63 EPS for the current year.
In other Premier news, VP R. Wesley Champion sold 25,049 shares of the firm’s stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $33.23, for a total transaction of $832,378.27. Following the completion of the transaction, the vice president now owns 40,913 shares of the company’s stock, valued at $1,359,538.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Several institutional investors have made changes to their positions in PINC. California Public Employees Retirement System increased its position 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 in the last quarter. California State Teachers Retirement System increased its position 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 in the last quarter. Sei Investments Co. increased its position in shares of Premier by 0.8% in the fourth quarter. Sei Investments Co. now owns 169,019 shares of the company’s stock worth $5,961,000 after buying an additional 1,309 shares in the last quarter. Swiss National Bank increased its position 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 in the last quarter. Finally, SECOR Capital Advisors LP acquired a new position in shares of Premier during the fourth quarter worth $2,118,000.
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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