Premier (NASDAQ:PINC) Price Target Cut to $37.00

Share on StockTwits

Premier (NASDAQ:PINC) had its target price cut by Credit Suisse Group from $38.00 to $37.00 in a research report sent to investors on Tuesday morning, BenzingaRatingsTable reports. They currently have a neutral rating on the stock.

A number of other brokerages have also commented on PINC. Barclays restated a buy rating and issued a $44.00 price target on shares of Premier in a report on Sunday, January 19th. UBS Group lowered Premier from a buy rating to a neutral rating and cut their price target for the company from $44.00 to $38.00 in a report on Thursday, October 31st. Benchmark restated a buy rating and issued a $43.00 price target (down from $46.00) on shares of Premier in a report on Wednesday, February 5th. BidaskClub lowered Premier from a sell rating to a strong sell rating in a report on Thursday, January 23rd. Finally, Zacks Investment Research upgraded Premier from a hold rating to a buy rating and set a $35.00 price target on the stock in a report on Saturday, February 8th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company. Premier has an average rating of Hold and a consensus target price of $39.45.

Shares of Premier stock opened at $32.00 on Tuesday. The firm has a market cap of $3.90 billion, a price-to-earnings ratio of 13.07, a price-to-earnings-growth ratio of 1.13 and a beta of 0.38. The stock’s 50-day moving average is $35.25 and its 200-day moving average is $35.57. Premier has a one year low of $27.37 and a one year high of $40.13.

Premier (NASDAQ:PINC) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.06. The company had revenue of $319.60 million for the quarter, compared to analyst estimates of $307.12 million. Premier had a negative return on equity of 64.10% and a negative net margin of 21.22%. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.66 earnings per share. On average, analysts expect that Premier will post 2.68 earnings per share for the current fiscal year.

In related news, CFO Craig S. Mckasson sold 8,149 shares of the company’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $37.01, for a total transaction of $301,594.49. Following the sale, the chief financial officer now owns 120,200 shares in the company, valued at $4,448,602. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Craig S. Mckasson sold 84,366 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $37.61, for a total value of $3,173,005.26. Following the sale, the chief financial officer now owns 166,284 shares in the company, valued at approximately $6,253,941.24. The disclosure for this sale can be found here. Insiders have sold 94,700 shares of company stock worth $3,555,484 in the last quarter. 17.67% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cullen Frost Bankers Inc. increased its position in Premier by 457.0% during the fourth quarter. Cullen Frost Bankers Inc. now owns 713 shares of the company’s stock worth $27,000 after buying an additional 585 shares during the last quarter. Evoke Wealth LLC acquired a new position in Premier during the third quarter worth approximately $25,000. CWM LLC increased its position in Premier by 160.3% during the third quarter. CWM LLC now owns 1,244 shares of the company’s stock worth $36,000 after buying an additional 766 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in Premier during the third quarter worth approximately $52,000. Finally, Signaturefd LLC increased its position in Premier by 3,111.1% during the fourth quarter. Signaturefd LLC now owns 2,312 shares of the company’s stock worth $88,000 after buying an additional 2,240 shares during the last quarter. Institutional investors and hedge funds own 53.88% of the company’s stock.

About Premier

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.

Recommended Story: What member countries make up the G-20?

Analyst Recommendations for Premier (NASDAQ:PINC)

Receive News & Ratings for Premier Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Premier and related companies with MarketBeat.com's FREE daily email newsletter.