Benchmark Initiates Coverage on Premier (NASDAQ:PINC)

Benchmark assumed coverage on shares of Premier (NASDAQ:PINC) in a research note issued on Thursday, February 8th, reports. The brokerage set a “buy” rating and a $40.00 price target on the stock. Benchmark’s target price would suggest a potential upside of 27.23% from the company’s current price.

Several other research analysts also recently commented on PINC. Piper Jaffray Companies restated a “hold” rating on shares of Premier in a report on Wednesday, February 7th. William Blair restated an “outperform” rating on shares of Premier in a report on Tuesday, February 6th. Zacks Investment Research upgraded Premier from a “hold” rating to a “buy” rating and set a $33.00 price objective on the stock in a report on Wednesday, January 10th. BidaskClub upgraded Premier from a “strong sell” rating to a “sell” rating in a report on Thursday, January 11th. Finally, Robert W. Baird reiterated a “buy” rating and issued a $35.00 price target on shares of Premier in a report on Friday, November 10th. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Premier presently has a consensus rating of “Buy” and a consensus target price of $36.71.

Premier (NASDAQ PINC) traded up $0.24 on Thursday, reaching $31.44. The company’s stock had a trading volume of 702,200 shares, compared to its average volume of 780,310. The stock has a market cap of $4,233.56, a P/E ratio of -9.64, a P/E/G ratio of 1.23 and a beta of 0.50. Premier has a one year low of $27.16 and a one year high of $36.50. The company has a debt-to-equity ratio of -0.01, a current ratio of 0.83 and a quick ratio of 0.71.

Premier (NASDAQ:PINC) last released its quarterly earnings data on Monday, February 5th. The company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.48 by $0.02. The company had revenue of $411.40 million for the quarter, compared to the consensus estimate of $393.35 million. Premier had a negative return on equity of 19.94% and a net margin of 14.14%. Premier’s quarterly revenue was up 14.8% on a year-over-year basis. During the same period last year, the business posted $0.46 EPS. equities analysts anticipate that Premier will post 2.11 EPS for the current year.

In other news, Director Stephen R. D’arcy sold 3,967 shares of Premier stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $31.72, for a total value of $125,833.24. Following the transaction, the director now directly owns 11,233 shares in the company, valued at approximately $356,310.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 17.52% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Suntrust Banks Inc. acquired a new stake in shares of Premier in the 2nd quarter worth $276,000. Allianz Asset Management GmbH acquired a new stake in shares of Premier in the 3rd quarter worth $316,000. Vanguard Group Inc. boosted its position in shares of Premier by 7.4% in the 2nd quarter. Vanguard Group Inc. now owns 4,345,748 shares of the company’s stock worth $156,447,000 after purchasing an additional 300,387 shares in the last quarter. Reinhart Partners Inc. acquired a new stake in shares of Premier in the 3rd quarter worth $1,727,000. Finally, Wells Fargo & Company MN boosted its position in shares of Premier by 101.5% in the 3rd quarter. Wells Fargo & Company MN now owns 119,608 shares of the company’s stock worth $3,896,000 after purchasing an additional 60,257 shares in the last quarter. 39.60% of the stock is owned by hedge funds and other 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.

Analyst Recommendations for Premier (NASDAQ:PINC)

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