Premier (PINC) Rating Lowered to Sell at BidaskClub

BidaskClub cut shares of Premier (NASDAQ:PINC) from a hold rating to a sell rating in a research note published on Saturday, March 30th, BidAskClub reports.

A number of other research firms have also recently issued reports on PINC. ValuEngine cut shares of Premier from a buy rating to a hold rating in a report on Thursday, February 7th. UBS Group initiated coverage on shares of Premier in a research note on Thursday, January 17th. They issued a buy rating and a $45.00 target price for the company. Finally, Zacks Investment Research upgraded shares of Premier from a sell rating to a hold rating in a research note on Friday, January 25th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company. Premier presently has an average rating of Hold and a consensus target price of $43.70.

NASDAQ:PINC traded up $0.31 during trading hours on Friday, hitting $31.97. 1,366,014 shares of the stock traded hands, compared to its average volume of 989,772. Premier has a fifty-two week low of $28.81 and a fifty-two week high of $47.22. The company has a market cap of $4.14 billion, a P/E ratio of 45.67, a price-to-earnings-growth ratio of 1.17 and a beta of 0.49.

Premier (NASDAQ:PINC) last posted its quarterly earnings results on Tuesday, February 5th. The company reported $0.66 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.08. The business had revenue of $421.86 million for the quarter, compared to the consensus estimate of $417.09 million. Premier had a net margin of 21.63% and a negative return on equity of 25.06%. Premier’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.50 earnings per share. Analysts expect that Premier will post 2.43 EPS for the current year.

In other news, insider Craig S. Mckasson sold 50,000 shares of Premier stock in a transaction on Friday, February 15th. The shares were sold at an average price of $37.55, for a total transaction of $1,877,500.00. Following the transaction, the insider now directly owns 135,709 shares of the company’s stock, valued at $5,095,872.95. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Stephen R. D’arcy sold 3,733 shares of Premier stock in a transaction on Friday, February 8th. The stock was sold at an average price of $36.90, for a total transaction of $137,747.70. Following the transaction, the director now directly owns 10,676 shares in the company, valued at $393,944.40. The disclosure for this sale can be found here. Company insiders own 18.30% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. Csenge Advisory Group acquired a new position in shares of Premier during the 3rd quarter worth about $25,000. Cutler Group LP grew its stake in Premier by 98.0% in the 4th quarter. Cutler Group LP now owns 792 shares of the company’s stock valued at $29,000 after buying an additional 392 shares during the last quarter. CENTRAL TRUST Co grew its stake in Premier by 15.4% in the 4th quarter. CENTRAL TRUST Co now owns 3,775 shares of the company’s stock valued at $141,000 after buying an additional 505 shares during the last quarter. LPL Financial LLC acquired a new position in Premier in the 3rd quarter valued at about $203,000. Finally, Ibex Investors LLC acquired a new position in Premier in the 3rd quarter valued at about $215,000. Hedge funds and other institutional investors own 48.15% of the company’s stock.

About Premier

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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Analyst Recommendations for Premier (NASDAQ:PINC)

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