Premier’s (NASDAQ:PINC) Buy Rating Reaffirmed at Jefferies Group LLC
Premier, Inc. (NASDAQ:PINC)‘s stock had its “buy” rating reissued by research analysts at Jefferies Group LLC in a research note issued to investors on Wednesday. They currently have a $40.00 price target on the stock. Jefferies Group LLC’s price objective would suggest a potential upside of 19.33% from the stock’s previous close.
Several other equities analysts have also recently issued reports on PINC. UBS AG reissued a “neutral” rating and issued a $35.00 price objective (up from $34.00) on shares of Premier in a research note on Thursday, May 25th. Zacks Investment Research cut shares of Premier from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. BidaskClub cut shares of Premier from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Finally, Bank of America Corporation upped their price target on shares of Premier from $37.00 to $39.00 and gave the stock a “buy” rating in a research note on Thursday, May 25th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and twelve have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $38.25.
Shares of Premier (PINC) traded down 0.68% on Wednesday, hitting $33.52. 459,000 shares of the stock traded hands. Premier has a one year low of $28.27 and a one year high of $36.50. The company has a market cap of $1.73 billion, a PE ratio of 15.80 and a beta of 0.46. The stock has a 50 day moving average of $35.46 and a 200 day moving average of $33.31.
Premier (NASDAQ:PINC) last announced its quarterly earnings data on Monday, May 8th. The company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.05. The company had revenue of $379.80 million for the quarter, compared to analysts’ expectations of $401.71 million. Premier had a net margin of 31.41% and a negative return on equity of 13.95%. Premier’s revenue was up 27.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.44 EPS. Equities analysts anticipate that Premier will post $1.91 earnings per share for the current year.
In related news, insider Durral R. Gilbert sold 82,861 shares of the business’s stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $35.11, for a total value of $2,909,249.71. Following the sale, the insider now directly owns 145,261 shares in the company, valued at approximately $5,100,113.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Craig S. Mckasson sold 10,750 shares of the business’s stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $34.84, for a total transaction of $374,530.00. Following the completion of the sale, the insider now owns 74,505 shares in the company, valued at $2,595,754.20. The disclosure for this sale can be found here. Insiders sold a total of 184,710 shares of company stock worth $6,490,663 over the last quarter. Insiders own 17.14% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Premier during the fourth quarter valued at approximately $11,830,000. Wells Fargo & Company MN raised its stake in Premier by 1.1% in the first quarter. Wells Fargo & Company MN now owns 65,880 shares of the company’s stock valued at $2,096,000 after buying an additional 747 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in Premier by 80.0% in the first quarter. Massachusetts Financial Services Co. MA now owns 321,215 shares of the company’s stock valued at $10,224,000 after buying an additional 142,741 shares in the last quarter. TimesSquare Capital Management LLC raised its stake in Premier by 1.0% in the first quarter. TimesSquare Capital Management LLC now owns 2,638,000 shares of the company’s stock valued at $83,968,000 after buying an additional 27,300 shares in the last quarter. Finally, Virginia Retirement Systems ET AL acquired a new stake in Premier during the first quarter valued at approximately $990,000.
Premier, Inc is a healthcare improvement company. The Company is uniting an alliance of approximately 3,750 United States hospitals and more than 130,000 other provider organizations 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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