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

StockNews.com downgraded shares of Premier (NASDAQ:PINCGet Rating) from a strong-buy rating to a buy rating in a research report report published on Monday.

Several other brokerages also recently commented on PINC. JPMorgan Chase & Co. reduced their price objective on shares of Premier from $41.00 to $30.00 and set a neutral rating for the company in a research report on Friday, November 18th. Raymond James dropped their price objective on shares of Premier from $45.00 to $40.00 and set an outperform rating for the company in a report on Thursday, November 3rd. Robert W. Baird upgraded shares of Premier from a neutral rating to an outperform rating and set a $41.00 price objective on the stock in a research report on Wednesday, November 2nd. Finally, Barclays lowered their price objective on Premier to $33.00 in a research note on Thursday, October 13th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $40.56.

Premier Price Performance

NASDAQ PINC opened at $33.38 on Monday. The firm has a market capitalization of $3.96 billion, a price-to-earnings ratio of 21.54, a price-to-earnings-growth ratio of 1.41 and a beta of 0.32. The company has a 50 day simple moving average of $33.76 and a 200-day simple moving average of $34.78. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.88 and a quick ratio of 0.73. Premier has a 52-week low of $30.82 and a 52-week high of $38.98.

Premier (NASDAQ:PINCGet Rating) last posted its quarterly earnings results on Tuesday, November 1st. The company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.02). Premier had a return on equity of 11.35% and a net margin of 13.50%. The business had revenue of $313.87 million during the quarter, compared to analyst estimates of $327.95 million. Equities research analysts predict that Premier will post 2.37 earnings per share for the current fiscal year.

Institutional Trading of Premier

Institutional investors have recently modified their holdings of the company. Mitsubishi UFJ Trust & Banking Corp bought a new position in Premier during the 3rd quarter worth $25,000. Nisa Investment Advisors LLC grew its position in Premier by 74.5% during the third quarter. Nisa Investment Advisors LLC now owns 1,000 shares of the company’s stock valued at $34,000 after purchasing an additional 427 shares in the last quarter. Parallel Advisors LLC grew its position in Premier by 37.0% during the second quarter. Parallel Advisors LLC now owns 1,185 shares of the company’s stock valued at $42,000 after purchasing an additional 320 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Premier in the second quarter worth approximately $44,000. Finally, Wipfli Financial Advisors LLC acquired a new stake in shares of Premier in the third quarter worth $43,000. Hedge funds and other institutional investors own 66.93% 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 workforce solutions.

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Analyst Recommendations for Premier (NASDAQ:PINC)

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