Premier (PINC) Lifted to Hold at Zacks Investment Research

Premier (NASDAQ:PINC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Friday.

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. “

Separately, UBS Group began coverage on shares of Premier in a research note on Thursday, January 17th. They issued a “buy” rating and a $45.00 target price for the company. Six research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $44.17.

PINC opened at $39.74 on Friday. The stock has a market capitalization of $5.27 billion, a PE ratio of 56.78, a price-to-earnings-growth ratio of 1.39 and a beta of 0.49. Premier has a twelve month low of $28.81 and a twelve month high of $47.22.

Premier (NASDAQ:PINC) last posted its earnings results on Tuesday, November 6th. The company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.05. The firm had revenue of $401.60 million during the quarter, compared to the consensus estimate of $412.79 million. Premier had a net margin of 32.31% and a negative return on equity of 23.61%. The company’s revenue was up 2.8% on a year-over-year basis. During the same quarter last year, the company earned $0.44 earnings per share. As a group, equities research analysts expect that Premier will post 2.44 EPS for the current fiscal year.

In related news, General Counsel David L. Klatsky sold 12,048 shares of the business’s stock in a transaction that occurred on Monday, December 31st. The shares were sold at an average price of $36.81, for a total transaction of $443,486.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Leigh Anderson sold 2,892 shares of the business’s stock in a transaction that occurred on Wednesday, January 2nd. The shares were sold at an average price of $36.85, for a total transaction of $106,570.20. Following the transaction, the insider now directly owns 16,744 shares of the company’s stock, valued at approximately $617,016.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 93,298 shares of company stock valued at $3,556,271. 18.30% of the stock is owned by corporate insiders.

Large investors have recently modified their holdings of the stock. Oppenheimer Asset Management Inc. lifted its position in Premier by 3.9% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 21,410 shares of the company’s stock valued at $800,000 after purchasing an additional 795 shares during the last quarter. Hanseatic Management Services Inc. bought a new stake in Premier during the fourth quarter valued at approximately $801,000. Strs Ohio lifted its position in Premier by 5.1% during the fourth quarter. Strs Ohio now owns 14,967 shares of the company’s stock valued at $559,000 after purchasing an additional 728 shares during the last quarter. Empowered Funds LLC bought a new stake in Premier during the fourth quarter valued at approximately $1,182,000. Finally, Diversified Investment Strategies LLC lifted its position in Premier by 6.5% during the fourth quarter. Diversified Investment Strategies LLC now owns 142,900 shares of the company’s stock valued at $5,337,000 after purchasing an additional 8,700 shares during the last quarter. 41.69% 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. 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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