Premier (NASDAQ:PINC) was downgraded by stock analysts at Jefferies Financial Group from a “buy” rating to a “hold” rating in a report released on Friday, Anlyst Ratings reports. They currently have a $40.00 target price on the stock. Jefferies Financial Group’s price target would suggest a potential upside of 7.18% from the company’s previous close.
Other equities analysts have also issued reports about the stock. Zacks Investment Research upgraded shares of Premier from a “sell” rating to a “hold” rating in a research report on Tuesday, October 27th. Canaccord Genuity upped their target price on shares of Premier from $37.00 to $44.00 and gave the stock a “buy” rating in a report on Thursday. Berenberg Bank initiated coverage on Premier in a report on Tuesday, December 8th. They set a “buy” rating and a $42.00 price target on the stock. Piper Sandler upped their price objective on Premier from $31.00 to $32.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 3rd. Finally, ValuEngine cut Premier from a “hold” rating to a “sell” rating in a research report on Tuesday, January 5th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $38.00.
NASDAQ:PINC opened at $37.32 on Friday. Premier has a one year low of $27.11 and a one year high of $37.79. The business has a fifty day moving average price of $35.36 and a 200-day moving average price of $33.94. The firm has a market capitalization of $4.56 billion, a price-to-earnings ratio of -6.07, a price-to-earnings-growth ratio of 2.35 and a beta of 0.18. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.25 and a quick ratio of 1.10.
Premier (NASDAQ:PINC) last released its quarterly earnings results on Monday, November 2nd. The company reported $0.57 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.08. Premier had a negative return on equity of 475.26% and a negative net margin of 4.13%. The business had revenue of $346.90 million during the quarter, compared to analyst estimates of $305.32 million. During the same quarter in the previous year, the company posted $0.68 earnings per share. Premier’s revenue for the quarter was up 14.7% on a year-over-year basis. On average, equities research analysts expect that Premier will post 2.06 earnings per share for the current fiscal year.
In other Premier news, Director Stephen R. D’arcy sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 10th. The stock was sold at an average price of $35.08, for a total transaction of $35,080.00. Following the sale, the director now directly owns 13,714 shares of the company’s stock, valued at $481,087.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 17.67% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in Premier by 56.4% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,078,807 shares of the company’s stock valued at $68,247,000 after acquiring an additional 749,311 shares during the last quarter. Raymond James & Associates boosted its stake in shares of Premier by 70.1% during the 3rd quarter. Raymond James & Associates now owns 1,311,292 shares of the company’s stock worth $43,050,000 after purchasing an additional 540,418 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in shares of Premier by 24.7% during the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,755,055 shares of the company’s stock worth $57,618,000 after purchasing an additional 348,155 shares during the period. Boston Trust Walden Corp grew its holdings in Premier by 55.5% during the 3rd quarter. Boston Trust Walden Corp now owns 752,906 shares of the company’s stock valued at $24,718,000 after purchasing an additional 268,845 shares during the last quarter. Finally, Bank of America Corp DE raised its position in Premier by 96.4% in the 2nd quarter. Bank of America Corp DE now owns 514,629 shares of the company’s stock worth $17,643,000 after purchasing an additional 252,557 shares during the period. 53.92% of the stock is owned by institutional investors.
Premier Company Profile
Premier, Inc, together with its subsidiaries, operates as a healthcare improvement company in the United States. It 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.
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