BidaskClub Downgrades Premier (NASDAQ:PINC) to Sell
A number of other analysts also recently commented on the stock. Canaccord Genuity set a $36.00 target price on shares of Premier and gave the stock a hold rating in a report on Wednesday, August 21st. Zacks Investment Research upgraded shares of Premier from a sell rating to a hold rating in a report on Friday, August 16th. Guggenheim initiated coverage on shares of Premier in a report on Tuesday, June 18th. They set a neutral rating and a $41.00 target price for the company. Piper Jaffray Companies restated a hold rating on shares of Premier in a research report on Thursday, August 22nd. Finally, Credit Suisse Group reaffirmed a neutral rating and issued a $42.00 price target (down previously from $43.00) on shares of Premier in a report on Tuesday, August 13th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $41.29.
Shares of Premier stock opened at $34.92 on Friday. The company’s 50-day moving average price is $37.76 and its two-hundred day moving average price is $36.64. Premier has a 52 week low of $31.31 and a 52 week high of $47.22. The stock has a market cap of $4.40 billion, a PE ratio of 15.38, a price-to-earnings-growth ratio of 1.24 and a beta of 0.33.
In other Premier news, Director William E. Mayer sold 4,000 shares of the company’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $37.45, for a total transaction of $149,800.00. Following the completion of the sale, the director now directly owns 13,763 shares of the company’s stock, valued at $515,424.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP David Alfred Hargraves sold 2,015 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $35.05, for a total transaction of $70,625.75. Following the sale, the senior vice president now directly owns 22,106 shares of the company’s stock, valued at $774,815.30. The disclosure for this sale can be found here. Insiders sold a total of 10,065 shares of company stock valued at $370,969 in the last quarter. 18.30% of the stock is currently owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in PINC. Van Berkom & Associates Inc. raised its holdings in shares of Premier by 13.5% during the second quarter. Van Berkom & Associates Inc. now owns 31,118 shares of the company’s stock valued at $1,217,000 after acquiring an additional 3,692 shares during the period. Treasurer of the State of North Carolina raised its position in Premier by 5.8% during the second quarter. Treasurer of the State of North Carolina now owns 25,505 shares of the company’s stock valued at $998,000 after buying an additional 1,390 shares during the period. Ladenburg Thalmann Financial Services Inc. lifted its stake in Premier by 22.5% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 6,496 shares of the company’s stock worth $254,000 after acquiring an additional 1,191 shares in the last quarter. Nuveen Asset Management LLC purchased a new stake in Premier in the 2nd quarter worth about $23,463,000. Finally, UBS Asset Management Americas Inc. lifted its stake in Premier by 4.6% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 94,582 shares of the company’s stock worth $3,699,000 after acquiring an additional 4,147 shares in the last quarter. 49.72% of the stock is currently owned by institutional investors and hedge funds.
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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