Premier Inc. (PINC) Trading Down 2.4%
Premier Inc. (NASDAQ:PINC) dropped 2.4% during mid-day trading on Tuesday . The company traded as low as $30.99 and last traded at $31.04, with a volume of 254,844 shares traded. The stock had previously closed at $31.80.
PINC has been the subject of a number of research analyst reports. SunTrust Banks reduced their price objective on Premier from $40.00 to $38.00 and set a “buy” rating for the company in a report on Monday, August 29th. Canaccord Genuity reiterated a “buy” rating and issued a $43.00 price target on shares of Premier in a research note on Tuesday, August 23rd. Oppenheimer Holdings reiterated a “buy” rating on shares of Premier in a research note on Tuesday, May 10th. Citigroup boosted their price target on Premier from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday, August 23rd. Finally, Evercore ISI cut Premier from a “buy” rating to a “hold” rating and cut their price target for the company from $36.50 to $34.00 in a research note on Tuesday, August 23rd. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Premier presently has an average rating of “Buy” and an average price target of $39.08.
The company has a market capitalization of $1.48 billion and a P/E ratio of 23.47. The stock has a 50-day moving average of $32.39 and a 200 day moving average of $32.80.
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Premier (NASDAQ:PINC) last issued its quarterly earnings results on Monday, August 22nd. The company reported $0.36 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by $0.02. The firm had revenue of $301.40 million for the quarter. During the same quarter last year, the company posted $0.36 earnings per share. The business’s revenue for the quarter was up 13.1% on a year-over-year basis. Analysts predict that Premier Inc. will post $1.77 EPS for the current fiscal year.
In other news, VP R. Wesley Champion sold 25,049 shares of the firm’s stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $33.23, for a total transaction of $832,378.27. Following the completion of the sale, the vice president now owns 40,913 shares in the company, valued at approximately $1,359,538.99. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Durral R. Gilbert sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 12th. The stock was sold at an average price of $34.00, for a total transaction of $680,000.00. Following the sale, the insider now owns 44,239 shares of the company’s stock, valued at approximately $1,504,126. The disclosure for this sale can be found here.
Premier, Inc is a healthcare improvement company. The Company is uniting an alliance of approximately 3,600 United States hospitals and approximately 120,000 other providers 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.
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