Premier (NASDAQ:PINC) had its price target cut by equities researchers at SunTrust Banks from $38.00 to $30.00 in a report issued on Thursday, BenzingaRatingsTable reports. The firm currently has a “hold” rating on the stock. SunTrust Banks’ price objective would indicate a potential upside of 6.42% from the company’s previous close.
Other analysts have also recently issued research reports about the stock. Benchmark reaffirmed a “buy” rating and issued a $43.00 price objective (down previously from $46.00) on shares of Premier in a report on Wednesday, February 5th. Robert W. Baird dropped their price objective on shares of Premier from $41.00 to $36.00 and set a “neutral” rating on the stock in a report on Wednesday, February 5th. Barclays reaffirmed a “buy” rating and issued a $44.00 price objective on shares of Premier in a report on Sunday, January 19th. BidaskClub raised shares of Premier from a “sell” rating to a “hold” rating in a report on Saturday, March 14th. Finally, Zacks Investment Research upgraded shares of Premier from a “hold” rating to a “buy” rating and set a $35.00 target price for the company in a research report on Saturday, February 8th. Ten analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $38.91.
Shares of NASDAQ:PINC traded down $0.05 on Thursday, reaching $28.19. 12,313 shares of the company’s stock were exchanged, compared to its average volume of 1,375,845. The firm has a market capitalization of $3.53 billion, a price-to-earnings ratio of -2.69, a PEG ratio of 1.00 and a beta of 0.46. Premier has a fifty-two week low of $27.11 and a fifty-two week high of $40.13. The business’s 50-day moving average is $30.82 and its two-hundred day moving average is $34.11.
Premier (NASDAQ:PINC) last issued its earnings results on Tuesday, February 4th. The company reported $0.74 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.06. Premier had a negative net margin of 21.22% and a negative return on equity of 64.10%. The company had revenue of $319.60 million for the quarter, compared to analysts’ expectations of $307.12 million. During the same period in the prior year, the company earned $0.66 earnings per share. The firm’s revenue was up 3.9% compared to the same quarter last year. Sell-side analysts anticipate that Premier will post 2.68 EPS for the current year.
Several large investors have recently bought and sold shares of PINC. Tower Research Capital LLC TRC boosted its position in shares of Premier by 11.6% during the 3rd quarter. Tower Research Capital LLC TRC now owns 2,865 shares of the company’s stock valued at $83,000 after purchasing an additional 297 shares in the last quarter. Voya Investment Management LLC boosted its position in shares of Premier by 22.0% during the 3rd quarter. Voya Investment Management LLC now owns 11,216 shares of the company’s stock valued at $325,000 after purchasing an additional 2,025 shares in the last quarter. State Street Corp boosted its position in shares of Premier by 5.0% during the 3rd quarter. State Street Corp now owns 875,277 shares of the company’s stock valued at $25,313,000 after purchasing an additional 41,731 shares in the last quarter. Virtu Financial LLC bought a new position in shares of Premier during the 3rd quarter valued at about $343,000. Finally, Stifel Financial Corp boosted its position in shares of Premier by 22.3% during the 3rd quarter. Stifel Financial Corp now owns 15,960 shares of the company’s stock valued at $462,000 after purchasing an additional 2,906 shares in the last quarter. Institutional investors own 55.66% of the company’s stock.
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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