Premier (PINC) Downgraded by Zacks Investment Research to Sell

Zacks Investment Research lowered shares of Premier (NASDAQ:PINC) from a hold rating to a sell rating in a research note published on Friday morning.

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. “

A number of other research analysts have also commented on the stock. Leerink Swann set a $55.00 price objective on shares of Premier and gave the company a buy rating in a research note on Wednesday, August 22nd. Canaccord Genuity raised their price objective on shares of Premier from $38.00 to $42.00 and gave the company a hold rating in a research note on Wednesday, August 22nd. Raymond James raised their price objective on shares of Premier from $37.00 to $49.00 and gave the company an in-line rating in a research note on Wednesday, August 22nd. Benchmark reiterated a buy rating and set a $50.00 price objective (up previously from $40.00) on shares of Premier in a research note on Wednesday, August 22nd. Finally, SunTrust Banks lowered shares of Premier from a buy rating to a hold rating and set a $38.00 price objective on the stock. in a research note on Wednesday, August 22nd. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Premier currently has an average rating of Buy and a consensus target price of $40.63.

NASDAQ PINC opened at $44.32 on Friday. Premier has a 12 month low of $27.16 and a 12 month high of $45.31. The company has a market cap of $5.87 billion, a P/E ratio of 63.31, a P/E/G ratio of 1.53 and a beta of 0.47.

Premier (NASDAQ:PINC) last posted its quarterly earnings data on Tuesday, August 21st. The company reported $0.70 EPS for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.04. Premier had a net margin of 47.84% and a negative return on equity of 25.18%. The business had revenue of $433.96 million for the quarter, compared to analyst estimates of $412.24 million. During the same quarter last year, the business earned $0.50 earnings per share. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. research analysts expect that Premier will post 2.48 EPS for the current fiscal year.

In other Premier news, VP Kelli L. Price sold 4,000 shares of Premier stock in a transaction that occurred on Monday, June 11th. The shares were sold at an average price of $35.00, for a total value of $140,000.00. Following the transaction, the vice president now owns 18,678 shares in the company, valued at $653,730. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Craig S. Mckasson sold 6,250 shares of Premier stock in a transaction that occurred on Friday, August 24th. The stock was sold at an average price of $43.09, for a total transaction of $269,312.50. Following the completion of the transaction, the chief financial officer now owns 90,184 shares in the company, valued at approximately $3,886,028.56. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,250 shares of company stock worth $539,363. 17.52% of the stock is currently owned by company insiders.

A number of institutional investors have recently bought and sold shares of PINC. Fort L.P. acquired a new position in Premier in the second quarter worth approximately $123,000. Ostrum Asset Management acquired a new position in Premier in the first quarter worth approximately $129,000. Flinton Capital Management LLC acquired a new position in Premier in the first quarter worth approximately $133,000. Riverhead Capital Management LLC acquired a new position in Premier in the 1st quarter worth approximately $149,000. Finally, Financial Gravity Wealth Inc. acquired a new position in Premier in the 1st quarter worth approximately $151,000. Hedge funds and other institutional investors own 41.63% of the company’s stock.

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.

See Also: Price to Earnings Ratio (PE)

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