Premier Inc. (PINC) Trading 2.9% Higher
Premier Inc. (NASDAQ:PINC) traded up 2.9% during mid-day trading on Monday . The stock traded as high as $33.96 and last traded at $33.79, with a volume of 553,444 shares traded. The stock had previously closed at $32.84.
Several equities research analysts have issued reports on the stock. KeyCorp restated a “buy” rating on shares of Premier in a research report on Sunday, May 22nd. Canaccord Genuity reaffirmed a “buy” rating on shares of Premier in a report on Tuesday. Barclays PLC lowered their target price on shares of Premier from $41.00 to $39.00 and set an “overweight” rating on the stock in a report on Tuesday. Zacks Investment Research raised shares of Premier from a “hold” rating to a “buy” rating and set a $36.00 target price on the stock in a report on Thursday, August 18th. Finally, Credit Suisse Group AG initiated coverage on shares of Premier in a report on Friday, August 5th. They set an “outperform” rating and a $39.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $39.14.
The firm has a 50 day moving average price of $32.94 and a 200-day moving average price of $32.84. The company has a market cap of $1.43 billion and a PE ratio of 56.09.
Premier (NASDAQ:PINC) last released its earnings results on Monday, August 22nd. The company reported $0.36 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.38 by $0.02. During the same period in the previous year, the business earned $0.36 EPS. The business had revenue of $301.40 million for the quarter. The company’s quarterly revenue was up 13.1% compared to the same quarter last year. Equities analysts expect that Premier Inc. will post $1.80 EPS for the current year.
In related news, insider Durral R. Gilbert sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 12th. The shares were sold at an average price of $34.00, for a total transaction of $680,000.00. Following the sale, the insider now directly owns 44,239 shares in the company, valued at approximately $1,504,126. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP R. Wesley Champion sold 25,049 shares of the company’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 sale, the vice president now owns 40,913 shares in the company, 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 PINC. Jennison Associates LLC boosted its stake in shares of Premier by 17.0% in the fourth quarter. Jennison Associates LLC now owns 893,647 shares of the company’s stock worth $31,519,000 after buying an additional 129,650 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Premier by 11.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 153,413 shares of the company’s stock worth $5,411,000 after buying an additional 15,594 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its stake in shares of Premier by 7.8% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 72,474 shares of the company’s stock worth $2,557,000 after buying an additional 5,242 shares during the last quarter. Finally, Rhumbline Advisers boosted 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 last quarter.
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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