Premier (NASDAQ:PINC) Downgraded by StockNews.com to Buy

Premier (NASDAQ:PINCGet Rating) was downgraded by StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued on Thursday.

Other equities research analysts have also issued research reports about the stock. Guggenheim started coverage on shares of Premier in a report on Wednesday, April 13th. They issued a “neutral” rating on the stock. Credit Suisse Group initiated coverage on Premier in a research note on Friday, April 1st. They issued an “underperform” rating and a $35.00 target price on the stock. Finally, Zacks Investment Research raised Premier from a “sell” rating to a “hold” rating in a research report on Tuesday, April 12th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Premier has an average rating of “Hold” and an average target price of $42.00.

Shares of PINC stock opened at $36.90 on Thursday. The business has a 50-day moving average of $36.17 and a 200 day moving average of $38.09. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.01 and a quick ratio of 0.80. Premier has a 1-year low of $32.57 and a 1-year high of $42.15. The stock has a market capitalization of $4.39 billion, a PE ratio of 15.50, a P/E/G ratio of 1.91 and a beta of 0.31.

Premier (NASDAQ:PINCGet Rating) last released its quarterly earnings data on Tuesday, February 1st. The company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.02. Premier had a return on equity of 12.66% and a net margin of 17.42%. The firm had revenue of $379.20 million during the quarter, compared to analyst estimates of $347.71 million. During the same quarter in the prior year, the firm posted $0.60 earnings per share. The business’s quarterly revenue was down 10.3% compared to the same quarter last year. Analysts anticipate that Premier will post 2.25 EPS for the current year.

A number of institutional investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC bought a new position in shares of Premier in the 4th quarter worth approximately $93,408,000. Norges Bank bought a new position in Premier in the fourth quarter worth $47,599,000. Mawer Investment Management Ltd. purchased a new position in Premier during the third quarter valued at $42,768,000. BlackRock Inc. boosted its holdings in shares of Premier by 15.2% during the 3rd quarter. BlackRock Inc. now owns 6,456,553 shares of the company’s stock valued at $250,255,000 after buying an additional 854,141 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Premier by 26.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,704,713 shares of the company’s stock worth $104,837,000 after buying an additional 566,617 shares during the period. 68.74% of the stock is currently owned by institutional investors and hedge funds.

About Premier (Get Rating)

Premier, Inc, together with its subsidiaries, operates as a healthcare improvement company in the United States. It operates in two segments, Supply Chain Services and Performance Services. The Supply Chain Services segment offers its members with an 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.

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Analyst Recommendations for Premier (NASDAQ:PINC)

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