Premier (NASDAQ:PINC) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report issued on Wednesday.

According to Zacks, “Premier, Inc. operates as a healthcare alliance. The company brings together hospitals, health systems, physicians and other healthcare providers primarily in the United States. It also maintains clinical, financial and outcomes databases. Premier, Inc. is headquartered in Charlotte, North Carolina. “

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Other research analysts also recently issued reports about the company. Bank of America assumed coverage on Premier in a report on Tuesday, February 27th. They set a “buy” rating and a $39.00 price objective for the company. Oppenheimer restated a “buy” rating and issued a $40.00 price target on shares of Premier in a research note on Thursday, December 7th. SunTrust Banks decreased their price target on Premier to $36.00 and set a “buy” rating for the company in a research note on Friday, November 17th. Benchmark assumed coverage on Premier in a research note on Thursday, February 8th. They issued a “buy” rating and a $40.00 price target for the company. Finally, Piper Jaffray Companies restated a “hold” rating on shares of Premier in a research note on Wednesday, February 7th. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $36.71.

Premier (NASDAQ:PINC) opened at $34.40 on Wednesday. The company has a current ratio of 0.83, a quick ratio of 0.71 and a debt-to-equity ratio of -0.01. The stock has a market capitalization of $4,741.04, a PE ratio of -10.55, a P/E/G ratio of 1.34 and a beta of 0.45. Premier has a fifty-two week low of $27.16 and a fifty-two week high of $36.50.

Premier (NASDAQ:PINC) last posted its quarterly earnings data on Monday, February 5th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.02. The business had revenue of $411.40 million during the quarter, compared to the consensus estimate of $393.35 million. Premier had a negative return on equity of 19.94% and a net margin of 14.14%. Premier’s quarterly revenue was up 14.8% on a year-over-year basis. During the same period last year, the company earned $0.46 earnings per share. analysts anticipate that Premier will post 2.11 EPS for the current year.

In other news, Director Stephen R. D’arcy sold 3,967 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $31.72, for a total value of $125,833.24. Following the completion of the sale, the director now directly owns 11,233 shares of the company’s stock, valued at $356,310.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Craig S. Mckasson sold 6,250 shares of the firm’s stock in a transaction that occurred on Monday, March 12th. The shares were sold at an average price of $34.49, for a total value of $215,562.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 50,217 shares of company stock valued at $1,640,196. Corporate insiders own 17.52% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. APG Asset Management N.V. lifted its position in shares of Premier by 214.8% in the fourth quarter. APG Asset Management N.V. now owns 1,227,900 shares of the company’s stock valued at $29,849,000 after buying an additional 837,800 shares during the last quarter. Allianz Asset Management GmbH acquired a new stake in shares of Premier in the third quarter valued at approximately $316,000. M&T Bank Corp acquired a new stake in shares of Premier in the fourth quarter valued at approximately $1,187,000. Wells Fargo & Company MN lifted its position in shares of Premier by 101.5% in the third quarter. Wells Fargo & Company MN now owns 119,608 shares of the company’s stock valued at $3,896,000 after buying an additional 60,257 shares during the last quarter. Finally, Reinhart Partners Inc. lifted its position in shares of Premier by 54.3% in the fourth quarter. Reinhart Partners Inc. now owns 81,830 shares of the company’s stock valued at $2,389,000 after buying an additional 28,810 shares during the last quarter. 42.91% of the stock is owned by institutional investors.

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Premier Company Profile

Premier, Inc is a healthcare improvement company. The Company is uniting an alliance of approximately 3,900 United States hospitals and health systems and approximately 150,000 other providers and 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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