Zacks Investment Research upgraded shares of Premier (NASDAQ:PINC) from a hold rating to a buy rating in a research note released on Wednesday morning, Zacks.com reports. They currently have $42.00 target price on the stock.

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. “

PINC has been the subject of a number of other reports. BidaskClub lowered shares of Premier from a strong-buy rating to a buy rating in a research note on Saturday, February 23rd. Svb Leerink lowered shares of Premier from an outperform rating to a market perform rating in a research note on Wednesday, April 10th. Leerink Swann lowered shares of Premier from an outperform rating to a market perform rating and set a $36.00 price target for the company. in a research note on Wednesday, April 10th. Finally, Citigroup upgraded shares of Premier from a neutral rating to a buy rating and set a $45.00 price target for the company in a research note on Thursday, May 2nd. Nine analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $43.50.

Shares of PINC stock opened at $37.02 on Wednesday. Premier has a 52 week low of $31.31 and a 52 week high of $47.22. The company has a market capitalization of $4.76 billion, a PE ratio of 16.17, a P/E/G ratio of 1.36 and a beta of 0.32.

Premier (NASDAQ:PINC) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.05. Premier had a net margin of 21.50% and a negative return on equity of 27.23%. The firm had revenue of $422.90 million during the quarter, compared to analyst estimates of $432.94 million. During the same period in the previous year, the business posted $0.67 earnings per share. The business’s revenue for the quarter was down .6% on a year-over-year basis. On average, research analysts anticipate that Premier will post 2.45 EPS for the current fiscal year.

In related news, CFO Craig S. Mckasson sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $37.54, for a total transaction of $1,877,000.00. Following the completion of the sale, the chief financial officer now directly owns 135,709 shares in the company, valued at $5,094,515.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 18.30% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Cutler Group LP boosted its position in shares of Premier by 98.0% in the fourth quarter. Cutler Group LP now owns 792 shares of the company’s stock worth $29,000 after purchasing an additional 392 shares during the period. Royce & Associates LP boosted its position in shares of Premier by 48.6% in the first quarter. Royce & Associates LP now owns 1,388 shares of the company’s stock worth $48,000 after purchasing an additional 454 shares during the period. California State Teachers Retirement System boosted its position in shares of Premier by 0.8% in the fourth quarter. California State Teachers Retirement System now owns 84,179 shares of the company’s stock worth $3,144,000 after purchasing an additional 658 shares during the period. Cerity Partners LLC boosted its position in shares of Premier by 16.2% in the first quarter. Cerity Partners LLC now owns 6,795 shares of the company’s stock worth $234,000 after purchasing an additional 945 shares during the period. Finally, Avalon Advisors LLC boosted its position in shares of Premier by 1.2% in the first quarter. Avalon Advisors LLC now owns 84,676 shares of the company’s stock worth $2,920,000 after purchasing an additional 1,021 shares during the period. Institutional investors own 49.14% of the company’s stock.

Premier Company Profile

Premier, Inc, together with its subsidiaries, operates as a healthcare improvement company in the United States. The company operates through two segments, Supply Chain Services and Performance Services. The Supply Chain Services segment offers its members with access to a range of products and services, including medical and surgical products, pharmaceuticals, laboratory supplies, capital equipment, information technology, facilities and construction, and food and nutritional products, as well as purchased services, such as clinical engineering and document shredding services and software-as-a-service informatics products.

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