Premier (NASDAQ:PINC) Stock Rating Lowered by StockNews.com

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

Other equities analysts also recently issued research reports about the stock. Credit Suisse Group began coverage on shares of Premier in a report on Friday, April 1st. They set an “underperform” rating and a $35.00 price objective on the stock. Piper Sandler upgraded shares of Premier from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $39.00 to $45.00 in a report on Wednesday, May 4th. Canaccord Genuity Group cut their price objective on shares of Premier from $47.00 to $44.00 and set a “buy” rating on the stock in a report on Wednesday, May 4th. Guggenheim began coverage on shares of Premier in a report on Wednesday, April 13th. They set a “neutral” rating on the stock. Finally, SVB Leerink restated an “outperform” rating on shares of Premier in a report on Tuesday, May 3rd. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $41.83.

Shares of Premier stock opened at $35.41 on Thursday. The company has a market capitalization of $4.18 billion, a PE ratio of 15.33, a P/E/G ratio of 1.65 and a beta of 0.28. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.72 and a current ratio of 0.88. The company has a 50-day simple moving average of $36.82 and a two-hundred day simple moving average of $37.36. Premier has a one year low of $33.26 and a one year high of $42.15.

Premier (NASDAQ:PINCGet Rating) last announced its earnings results on Tuesday, May 3rd. The company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.05). The firm had revenue of $347.84 million during the quarter, compared to the consensus estimate of $340.10 million. Premier had a return on equity of 12.13% and a net margin of 18.14%. The business’s revenue for the quarter was down 26.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.55 earnings per share. On average, equities analysts predict that Premier will post 2.2 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. OLD Mission Capital LLC increased its stake in Premier by 40.4% during the 3rd quarter. OLD Mission Capital LLC now owns 30,336 shares of the company’s stock worth $996,000 after buying an additional 8,728 shares during the period. Voya Investment Management LLC increased its stake in Premier by 471.1% during the 3rd quarter. Voya Investment Management LLC now owns 114,910 shares of the company’s stock worth $4,453,000 after buying an additional 94,789 shares during the period. Cubist Systematic Strategies LLC grew its holdings in Premier by 345.6% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 87,672 shares of the company’s stock worth $3,398,000 after acquiring an additional 67,997 shares in the last quarter. Millennium Management LLC grew its holdings in Premier by 890.7% during the 3rd quarter. Millennium Management LLC now owns 567,509 shares of the company’s stock worth $21,997,000 after acquiring an additional 510,228 shares in the last quarter. Finally, Maverick Capital Ltd. grew its holdings in Premier by 107.7% during the 3rd quarter. Maverick Capital Ltd. now owns 20,338 shares of the company’s stock worth $788,000 after acquiring an additional 10,544 shares in the last quarter. Hedge funds and other institutional investors own 67.78% of the company’s stock.

Premier Company Profile (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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