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. “
Other analysts also recently issued research reports about the stock. Leerink Swann downgraded shares of Premier from an “outperform” rating to a “market perform” rating and set a $36.00 price objective for the company. in a research report on Wednesday, April 10th. BidaskClub raised shares of Premier from a “hold” rating to a “buy” rating in a research report on Thursday, May 9th. Citigroup raised shares of Premier from a “neutral” rating to a “buy” rating and set a $45.00 price objective for the company in a research report on Thursday, May 2nd. ValuEngine downgraded shares of Premier from a “buy” rating to a “hold” rating in a research report on Thursday, February 7th. Finally, Svb Leerink downgraded shares of Premier from an “outperform” rating to a “market perform” rating in a research report on Wednesday, April 10th. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Premier has an average rating of “Hold” and a consensus target price of $44.40.
Premier (NASDAQ:PINC) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $0.66 EPS for the quarter, topping the consensus estimate of $0.61 by $0.05. The company had revenue of $422.90 million during the quarter, compared to the consensus estimate of $432.94 million. Premier had a net margin of 21.50% and a negative return on equity of 27.23%. The company’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter last year, the firm posted $0.67 EPS. Equities research analysts forecast that Premier will post 2.43 earnings per share for the current fiscal year.
In related news, insider Craig S. Mckasson sold 50,000 shares of the stock in a transaction on Friday, February 15th. The stock was sold at an average price of $37.55, for a total value of $1,877,500.00. Following the transaction, the insider now directly owns 135,709 shares in the company, valued at approximately $5,095,872.95. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 18.30% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of PINC. Bank of New York Mellon Corp lifted its holdings in shares of Premier by 4.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 637,505 shares of the company’s stock worth $29,185,000 after purchasing an additional 29,921 shares in the last quarter. LPL Financial LLC bought a new position in shares of Premier in the 3rd quarter worth $203,000. Teachers Advisors LLC lifted its holdings in shares of Premier by 3.2% in the 3rd quarter. Teachers Advisors LLC now owns 149,697 shares of the company’s stock worth $6,853,000 after purchasing an additional 4,598 shares in the last quarter. TIAA CREF Investment Management LLC lifted its holdings in shares of Premier by 6.1% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 1,305,807 shares of the company’s stock worth $59,780,000 after purchasing an additional 74,621 shares in the last quarter. Finally, Nordea Investment Management AB lifted its holdings in shares of Premier by 3.8% in the 3rd quarter. Nordea Investment Management AB now owns 100,304 shares of the company’s stock worth $4,592,000 after purchasing an additional 3,650 shares in the last quarter. Institutional investors own 48.34% 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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