Several other analysts have also issued reports on PINC. BidaskClub lowered shares of Premier from a hold rating to a sell rating in a research report on Monday, July 31st. Jefferies Group LLC restated a buy rating and set a $40.00 price target on shares of Premier in a research report on Wednesday, August 9th. Zacks Investment Research upgraded shares of Premier from a sell rating to a hold rating in a research report on Friday, August 18th. William Blair restated an ourperform rating on shares of Premier in a research report on Tuesday, August 22nd. Finally, Piper Jaffray Companies restated a hold rating on shares of Premier in a research report on Tuesday, August 22nd. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $38.71.
Premier (PINC) traded down $2.26 during midday trading on Friday, reaching $27.79. 3,210,500 shares of the company’s stock traded hands, compared to its average volume of 553,128. Premier has a twelve month low of $27.15 and a twelve month high of $36.50. The stock has a market capitalization of $3,870.73, a price-to-earnings ratio of 15.53, a price-to-earnings-growth ratio of 1.24 and a beta of 0.46.
Premier (NASDAQ:PINC) last posted its quarterly earnings results on Monday, November 6th. The company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.05). Premier had a net margin of 17.99% and a negative return on equity of 18.31%. The business had revenue of $390.56 million for the quarter, compared to analysts’ expectations of $389.56 million. During the same quarter in the previous year, the company earned $0.41 earnings per share. The business’s quarterly revenue was up 24.7% on a year-over-year basis. equities research analysts forecast that Premier will post 1.87 earnings per share for the current year.
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Premier declared that its board has initiated a share buyback program on Tuesday, October 31st that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are undervalued.
In related news, SVP Leigh Anderson sold 2,264 shares of the stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $32.73, for a total value of $74,100.72. Following the completion of the transaction, the senior vice president now directly owns 14,654 shares of the company’s stock, valued at $479,625.42. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Susan D. Devore sold 40,000 shares of the stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $32.74, for a total transaction of $1,309,600.00. Following the completion of the transaction, the chief executive officer now directly owns 466,427 shares of the company’s stock, valued at $15,270,819.98. The disclosure for this sale can be found here. Over the last three months, insiders sold 78,014 shares of company stock valued at $2,575,863. 17.52% of the stock is owned by insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Premier by 13.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,185 shares of the company’s stock worth $115,000 after buying an additional 384 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Premier by 4.2% during the first quarter. PNC Financial Services Group Inc. now owns 3,664 shares of the company’s stock valued at $117,000 after purchasing an additional 149 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Premier by 7.8% during the second quarter. The Manufacturers Life Insurance Company now owns 4,373 shares of the company’s stock valued at $157,000 after purchasing an additional 315 shares in the last quarter. Advisors Asset Management Inc. increased its stake in shares of Premier by 1.6% during the second quarter. Advisors Asset Management Inc. now owns 4,461 shares of the company’s stock valued at $161,000 after purchasing an additional 72 shares in the last quarter. Finally, Pacer Advisors Inc. increased its stake in shares of Premier by 11.6% during the second quarter. Pacer Advisors Inc. now owns 7,426 shares of the company’s stock valued at $267,000 after purchasing an additional 774 shares in the last quarter. 38.49% of the stock is owned by institutional investors.
Premier, Inc is a healthcare improvement company. The Company is uniting an alliance of approximately 3,900 United States hospitals and health systems and approximately 150,000 other providers and organizations to transform healthcare. The Company operates healthcare group purchasing organizations and also provides integrated data and analytics, supply chain solutions, advisory services, performance improvement collaborative and other services.
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