Published On: Thu, Sep 8th, 2016

Premier (PINC) – Research Analysts’ Recent Ratings Changes

Several brokerages have updated their recommendations and price targets on shares of Premier (NASDAQ: PINC) in the last few weeks:

8/29/2016 – Premier had its price target lowered by analysts at SunTrust Banks from $40.00 to $38.00. They now have a “buy” rating on the stock.
8/24/2016 – Premier had its “buy” rating reaffirmed by analysts at Credit Suisse Group AG. They now have a $39.00 price target on the stock.
8/23/2016 – Premier had its “outperform” rating reaffirmed by analysts at Oppenheimer Holdings.
8/23/2016 – Premier was downgraded by analysts at Evercore ISI from a “buy” rating to a “hold” rating. They now have a $34.00 price target on the stock, down previously from $36.50.
8/23/2016 – Premier had its price target lowered by analysts at Barclays PLC from $41.00 to $39.00. They now have an “overweight” rating on the stock.
8/23/2016 – Premier had its price target raised by analysts at Citigroup from $38.00 to $40.00. They now have a “buy” rating on the stock.
8/23/2016 – Premier had its price target lowered by analysts at Robert W. Baird from $41.00 to $39.00. They now have an “outperform” rating on the stock.
8/23/2016 – Premier had its “buy” rating reaffirmed by analysts at Canaccord Genuity. They now have a $43.00 price target on the stock.
8/22/2016 – Premier was given a new $40.00 price target on by analysts at Jefferies Group. They now have a “buy” rating on the stock.
8/18/2016 – Premier was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $36.00 price target on the stock. According to Zacks, “Premier, Inc. operates as a healthcare alliance. The company brings together hospitals, health systems, physicians and other healthcare providers primarily in the United States. It also maintains clinical, financial and outcomes databases. Premier, Inc. is headquartered in Charlotte, North Carolina. “
8/10/2016 – Premier was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Premier, Inc. operates as a healthcare alliance. The company brings together hospitals, health systems, physicians and other healthcare providers primarily in the United States. It also maintains clinical, financial and outcomes databases. Premier, Inc. is headquartered in Charlotte, North Carolina. “
8/5/2016 – Premier is now covered by analysts at Credit Suisse Group AG. They set an “outperform” rating and a $39.00 price target on the stock. They wrote, “will grow by cross-selling new and existing solutions to existing members and attracting new members as well as through acquisitions that enhance these efforts.”Analyst Robert Willoughby noted that the ongoing change in the healthcare competitive landscape should boost demand for Premier’s solutions which cut costs and improve clinical outcomes.Related Link: Merck And Premier Join Hands To Prevent Fractures For Osteoporosis PatientsFurther, the company’s performance services business would benefit from the cross-selling opportunities thanks to Premier’s substantial GPO footprint that covers majority of the U.S. hospitals. Moreover, the company could offer quality data analytics services due to its broad membership base.For FY16, the analyst expects EPS of $1.63 on revenue of $1.166 billion (14.5 percent growth from last year) and FY17 EPS of $1.80 on revenue of $1.282 billion (9.9 percent growth).On the valuation front, Willoughby said the stock was trading at an EV/EBITDA multiple of 8.5x his CY17forecast, below its average (9.9x) as a public company and the comparable healthcare IT/business services valuation(12.1x).”Our $39 target price equates to an EV/EBITDA multiple of 10.0x, in-line with its historical average and still well below the peer group,”

Shares of Premier Inc. (NASDAQ:PINC) opened at 31.51 on Thursday. The firm has a market cap of $1.45 billion and a P/E ratio of 23.69. The firm’s 50-day moving average price is $32.35 and its 200 day moving average price is $32.79. Premier Inc. has a 12-month low of $29.68 and a 12-month high of $37.55.
Premier (NASDAQ:PINC) last issued its earnings results on Monday, August 22nd. The company reported $0.36 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 period in the prior year, the firm posted $0.36 EPS. Premier’s quarterly revenue was up 13.1% compared to the same quarter last year. On average, equities analysts expect that Premier Inc. will post $1.77 earnings per share for the current fiscal year.

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In related news, insider Durral R. Gilbert sold 20,000 shares of the company’s stock in a transaction dated Tuesday, July 12th. The shares were sold at an average price of $34.00, for a total transaction of $680,000.00. Following the transaction, the insider now owns 44,239 shares in the company, valued at approximately $1,504,126. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP R. Wesley Champion sold 25,049 shares of the company’s stock in a transaction dated Friday, July 1st. The stock was sold at an average price of $33.23, for a total transaction of $832,378.27. Following the transaction, the vice president now owns 40,913 shares in the company, valued at approximately $1,359,538.99. The disclosure for this sale can be found here. 17.31% of the stock is currently owned by insiders.
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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