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 research analysts also recently issued reports about the stock. Citigroup downgraded shares of BCE from a buy rating to a neutral rating in a research report on Thursday, May 2nd. Svb Leerink downgraded shares of Premier from an outperform rating to a market perform rating in a research report on Wednesday, April 10th. Guggenheim lifted their target price on shares of Zillow Group from $45.00 to $50.00 in a research report on Tuesday, June 18th. Leerink Swann downgraded shares of Premier from an outperform rating to a market perform rating and set a $36.00 target price on the stock. in a research report on Wednesday, April 10th. Finally, BidaskClub downgraded shares of Xencor from a sell rating to a strong sell rating in a research report on Tuesday, June 11th. Ten analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Premier presently has an average rating of Hold and a consensus price target of $43.45.
Premier stock opened at $38.93 on Wednesday. The stock has a 50 day moving average price of $38.15. The stock has a market capitalization of $4.92 billion, a P/E ratio of 16.71, a P/E/G ratio of 1.31 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 released its earnings results on Tuesday, May 7th. The company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.05. The business had revenue of $422.90 million for 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 firm’s quarterly revenue was down .6% compared to the same quarter last year. During the same period last year, the firm posted $0.67 earnings per share. Equities research analysts forecast that Premier will post 2.45 EPS for the current year.
In related news, SVP David Alfred Hargraves sold 1,037 shares of the business’s stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 10,024 shares of the company’s stock, valued at $377,002.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Craig S. Mckasson sold 50,000 shares of the business’s 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 transaction, the chief financial officer now directly owns 135,709 shares in the company, valued at $5,094,515.86. The disclosure for this sale can be found here. Insiders own 18.30% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Royce & Associates LP lifted its stake in Premier by 48.6% in the first quarter. Royce & Associates LP now owns 1,388 shares of the company’s stock valued at $48,000 after acquiring an additional 454 shares during the last quarter. Quadrant Capital Group LLC lifted its stake in Premier by 980.4% in the first quarter. Quadrant Capital Group LLC now owns 2,042 shares of the company’s stock valued at $68,000 after acquiring an additional 1,853 shares during the last quarter. Cambria Investment Management L.P. acquired a new stake in Premier in the first quarter valued at approximately $131,000. Campbell & CO Investment Adviser LLC acquired a new stake in Premier in the first quarter valued at approximately $226,000. Finally, Virtu Financial LLC acquired a new stake in Premier in the first quarter valued at approximately $234,000. 48.30% of the stock is currently owned by hedge funds and other institutional investors.
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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