Premier (PINC) Receives “Buy” Rating from SunTrust Banks
Several other analysts also recently weighed in on PINC. Robert W. Baird reaffirmed a buy rating and issued a $35.00 target price on shares of Premier in a report on Friday, November 10th. Zacks Investment Research raised shares of Premier from a sell rating to a hold rating in a report on Thursday, November 23rd. Oppenheimer reissued a buy rating and set a $40.00 price objective on shares of Premier in a report on Thursday, December 7th. JPMorgan Chase & Co. reissued a neutral rating and set a $30.00 price objective on shares of Premier in a report on Tuesday, December 19th. Finally, Citigroup initiated coverage on shares of Premier in a report on Thursday, January 4th. They set a neutral rating on the stock. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $36.86.
Shares of Premier (NASDAQ:PINC) opened at $31.60 on Thursday. The firm has a market cap of $4,410.00, a PE ratio of -9.66, a PEG ratio of 1.27 and a beta of 0.50. The company has a quick ratio of 0.69, a current ratio of 0.83 and a debt-to-equity ratio of -0.01. Premier has a fifty-two week low of $27.16 and a fifty-two week high of $36.50.
In other Premier news, Director Stephen R. D’arcy sold 3,967 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $31.72, for a total value of $125,833.24. Following the sale, the director now owns 11,233 shares of the company’s stock, valued at $356,310.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 17.52% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in PINC. State of Alaska Department of Revenue purchased a new stake in shares of Premier in the fourth quarter valued at about $124,000. The Manufacturers Life Insurance Company lifted its holdings in shares of Premier by 7.8% in 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. PNC Financial Services Group Inc. lifted its holdings in shares of Premier by 30.9% in the second quarter. PNC Financial Services Group Inc. now owns 4,796 shares of the company’s stock valued at $173,000 after purchasing an additional 1,132 shares in the last quarter. American Century Companies Inc. purchased a new stake in shares of Premier in the fourth quarter valued at about $243,000. Finally, Suntrust Banks Inc. purchased a new stake in shares of Premier in the second quarter valued at about $276,000. 39.52% of the stock is currently owned by institutional investors.
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Premier Company Profile
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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