Premier (NASDAQ:PINC) Rating Lowered to Hold at BidaskClub

Premier (NASDAQ:PINC) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued on Tuesday, BidAskClub reports.

Several other analysts have also recently issued reports on the stock. Credit Suisse Group reissued a “neutral” rating and set a $42.00 price objective (down from $43.00) on shares of Premier in a research note on Tuesday, August 13th. Guggenheim assumed coverage on shares of Premier in a research note on Tuesday, June 18th. They set a “neutral” rating and a $41.00 price objective for the company. 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 note on Thursday, May 2nd. Finally, Zacks Investment Research raised shares of Premier from a “sell” rating to a “hold” rating in a research note on Friday, August 16th. Ten investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Premier currently has a consensus rating of “Hold” and an average target price of $43.20.

Shares of PINC opened at $37.82 on Tuesday. The stock has a fifty day moving average of $39.20 and a two-hundred day moving average of $36.87. The company has a market capitalization of $4.89 billion, a PE ratio of 54.03, a price-to-earnings-growth ratio of 1.32 and a beta of 0.35. Premier has a fifty-two week low of $31.31 and a fifty-two week high of $47.22.



Premier (NASDAQ:PINC) last announced its quarterly earnings data on Tuesday, August 20th. The company reported $0.57 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by ($0.04). Premier had a net margin of 21.50% and a negative return on equity of 27.23%. The company had revenue of $316.20 million for the quarter, compared to analysts’ expectations of $426.69 million. During the same period in the prior year, the firm earned $0.70 earnings per share. The firm’s quarterly revenue was up 1.2% on a year-over-year basis. As a group, research analysts anticipate that Premier will post 2.46 earnings per share for the current year.

In related news, SVP David Alfred Hargraves sold 1,037 shares of the company’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $37.61, for a total transaction of $39,001.57. Following the completion of the sale, the senior vice president now directly owns 10,024 shares of the company’s stock, valued at approximately $377,002.64. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 18.30% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC boosted its position in Premier by 20.8% during the 2nd quarter. Renaissance Technologies LLC now owns 3,166,309 shares of the company’s stock worth $123,834,000 after purchasing an additional 546,200 shares during the period. JPMorgan Chase & Co. boosted its position in Premier by 3.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,405,592 shares of the company’s stock worth $94,251,000 after purchasing an additional 77,544 shares during the period. Rice Hall James & Associates LLC boosted its position in Premier by 1.8% during the 1st quarter. Rice Hall James & Associates LLC now owns 2,179,537 shares of the company’s stock worth $75,172,000 after purchasing an additional 38,104 shares during the period. River Road Asset Management LLC boosted its position in Premier by 74.1% during the 1st quarter. River Road Asset Management LLC now owns 1,928,936 shares of the company’s stock worth $66,529,000 after purchasing an additional 821,033 shares during the period. Finally, Mackenzie Financial Corp boosted its position in Premier by 141.6% during the 2nd quarter. Mackenzie Financial Corp now owns 1,716,406 shares of the company’s stock worth $67,129,000 after purchasing an additional 1,005,871 shares during the period. 50.26% of the stock is owned by hedge funds and other institutional investors.

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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