Premier (NASDAQ:PINC) Downgraded to “Hold” at BidaskClub

BidaskClub downgraded shares of Premier (NASDAQ:PINC) from a buy rating to a hold rating in a report released on Tuesday, BidAskClub reports.

Several other research analysts also recently issued reports on PINC. Zacks Investment Research raised Premier from a sell rating to a hold rating in a research note on Tuesday, May 14th. Svb Leerink downgraded Premier from an outperform rating to a market perform rating in a research note on Wednesday, April 10th. Leerink Swann downgraded Premier from an outperform rating to a market perform rating and set a $36.00 price objective for the company. in a research note on Wednesday, April 10th. Finally, Citigroup raised Premier from a neutral rating to a buy rating and set a $45.00 price objective for the company in a research note on Thursday, May 2nd. Nine research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Premier presently has an average rating of Hold and a consensus target price of $44.40.

Premier stock opened at $37.51 on Tuesday. Premier has a 1 year low of $31.31 and a 1 year high of $47.22. The company has a market capitalization of $4.76 billion, a PE ratio of 53.59, a PEG ratio of 1.36 and a beta of 0.31.



Premier (NASDAQ:PINC) last released its quarterly earnings data on Tuesday, May 7th. The company reported $0.66 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.05. Premier had a negative return on equity of 27.23% and a net margin of 21.50%. The company had revenue of $422.90 million during the quarter, compared to the consensus estimate of $432.94 million. During the same quarter in the prior year, the firm posted $0.67 earnings per share. The firm’s revenue was down .6% compared to the same quarter last year. Analysts expect that Premier will post 2.45 EPS for the current fiscal year.

In other Premier news, CFO Craig S. Mckasson sold 50,000 shares of the 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 owns 135,709 shares of the company’s stock, valued at approximately $5,094,515.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 18.30% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in PINC. Cutler Group LP increased its position in Premier by 98.0% during the 4th quarter. Cutler Group LP now owns 792 shares of the company’s stock valued at $29,000 after purchasing an additional 392 shares during the period. Royce & Associates LP increased its position in Premier by 48.6% during the 1st quarter. Royce & Associates LP now owns 1,388 shares of the company’s stock valued at $48,000 after purchasing an additional 454 shares during the period. Quadrant Capital Group LLC increased its position in Premier by 980.4% during the 1st quarter. Quadrant Capital Group LLC now owns 2,042 shares of the company’s stock valued at $68,000 after purchasing an additional 1,853 shares during the period. Cresset Asset Management LLC acquired a new stake in Premier during the 1st quarter valued at approximately $124,000. Finally, Cambria Investment Management L.P. acquired a new stake in Premier during the 1st quarter valued at approximately $131,000. 49.14% of the stock is owned by institutional investors and hedge funds.

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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