Premier Inc (NASDAQ:PINC) insider Craig S. Mckasson sold 6,250 shares of Premier stock in a transaction that occurred on Thursday, November 15th. The stock was sold at an average price of $39.44, for a total transaction of $246,500.00. Following the completion of the sale, the insider now directly owns 85,709 shares in the company, valued at approximately $3,380,362.96. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.
Shares of PINC stock opened at $39.57 on Friday. Premier Inc has a 1 year low of $27.70 and a 1 year high of $47.22. The firm has a market cap of $5.28 billion, a price-to-earnings ratio of 17.90, a price-to-earnings-growth ratio of 1.38 and a beta of 0.55.
Premier (NASDAQ:PINC) last issued its earnings results on Tuesday, November 6th. The company reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.05. Premier had a net margin of 32.31% and a negative return on equity of 23.61%. The business had revenue of $401.60 million for the quarter, compared to analysts’ expectations of $412.79 million. During the same quarter in the previous year, the firm posted $0.44 EPS. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. On average, equities research analysts forecast that Premier Inc will post 2.46 earnings per share for the current fiscal year.
PINC has been the topic of a number of research reports. Piper Jaffray Companies lifted their price target on shares of Premier from $32.00 to $40.00 and gave the stock a “neutral” rating in a report on Tuesday, August 21st. Raymond James lifted their price target on shares of Premier from $37.00 to $49.00 and gave the stock an “in-line” rating in a report on Wednesday, August 22nd. Barclays assumed coverage on shares of Premier in a report on Tuesday, September 25th. They set an “overweight” rating on the stock. SunTrust Banks cut shares of Premier from a “buy” rating to a “hold” rating and set a $38.00 target price on the stock. in a report on Wednesday, August 22nd. They noted that the move was a valuation call. Finally, ValuEngine raised shares of Premier from a “hold” rating to a “buy” rating in a report on Wednesday, August 22nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $42.19.
A number of hedge funds have recently modified their holdings of PINC. Raymond James & Associates increased its holdings in shares of Premier by 5.9% in the second quarter. Raymond James & Associates now owns 457,954 shares of the company’s stock worth $16,660,000 after purchasing an additional 25,444 shares during the period. Virginia Retirement Systems ET AL increased its holdings in shares of Premier by 31.2% in the second quarter. Virginia Retirement Systems ET AL now owns 36,600 shares of the company’s stock worth $1,332,000 after purchasing an additional 8,700 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of Premier by 46.9% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,797,781 shares of the company’s stock worth $101,783,000 after purchasing an additional 893,451 shares during the period. Seven Eight Capital LP increased its holdings in shares of Premier by 12.7% in the third quarter. Seven Eight Capital LP now owns 42,500 shares of the company’s stock worth $1,946,000 after purchasing an additional 4,800 shares during the period. Finally, Strs Ohio bought a new position in shares of Premier in the second quarter worth $477,000. 41.82% of the stock is currently owned by institutional investors and hedge funds.
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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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