Premier Inc (NASDAQ:PINC) was the target of a significant growth in short interest during the month of November. As of November 15th, there was short interest totalling 9,530,000 shares, a growth of 6.2% from the October 31st total of 8,970,000 shares. Based on an average trading volume of 894,500 shares, the short-interest ratio is currently 10.7 days. Currently, 15.6% of the company’s stock are sold short.
A number of equities research analysts have recently weighed in on the company. Credit Suisse Group restated a “neutral” rating and set a $42.00 price target (down previously from $43.00) on shares of Premier in a research note on Tuesday, August 13th. UBS Group lowered Premier from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $44.00 to $38.00 in a research note on Thursday, October 31st. Robert W. Baird lowered Premier from an “outperform” rating to a “neutral” rating and set a $41.00 price target on the stock. in a research note on Monday, November 11th. Evercore ISI restated a “hold” rating on shares of Premier in a research note on Monday, November 11th. Finally, Canaccord Genuity upgraded Premier from a “hold” rating to a “buy” rating and set a $36.00 price target on the stock in a research note on Tuesday, October 15th. Eleven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Premier presently has a consensus rating of “Hold” and a consensus price target of $40.33.
In other news, CFO Craig S. Mckasson sold 8,149 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $37.01, for a total transaction of $301,594.49. Following the sale, the chief financial officer now owns 120,200 shares in the company, valued at $4,448,602. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Craig S. Mckasson sold 2,287 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $37.00, for a total value of $84,619.00. Following the sale, the chief financial officer now owns 117,058 shares in the company, valued at approximately $4,331,146. The disclosure for this sale can be found here. Insiders have sold 14,636 shares of company stock worth $537,724 in the last 90 days. Insiders own 17.67% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in PINC. Man Group plc lifted its holdings in Premier by 60.7% in the third quarter. Man Group plc now owns 442,292 shares of the company’s stock valued at $12,791,000 after acquiring an additional 167,102 shares during the period. Squarepoint Ops LLC lifted its holdings in Premier by 767.9% in the third quarter. Squarepoint Ops LLC now owns 47,736 shares of the company’s stock valued at $1,381,000 after acquiring an additional 42,236 shares during the period. Point72 Asset Management L.P. acquired a new position in Premier in the third quarter valued at approximately $975,000. Redwood Investment Management LLC lifted its holdings in Premier by 36.6% in the third quarter. Redwood Investment Management LLC now owns 22,250 shares of the company’s stock valued at $643,000 after acquiring an additional 5,966 shares during the period. Finally, Stifel Financial Corp lifted its holdings in Premier by 22.3% in the third quarter. Stifel Financial Corp now owns 15,960 shares of the company’s stock valued at $462,000 after acquiring an additional 2,906 shares during the period. 54.16% of the stock is owned by hedge funds and other institutional investors.
Shares of Premier stock traded down $0.18 on Friday, reaching $35.54. 390,303 shares of the stock were exchanged, compared to its average volume of 844,358. Premier has a twelve month low of $27.37 and a twelve month high of $42.00. The firm has a market capitalization of $4.37 billion, a price-to-earnings ratio of 15.18, a PEG ratio of 1.44 and a beta of 0.34. The business has a 50 day moving average price of $34.55 and a two-hundred day moving average price of $36.32.
Premier (NASDAQ:PINC) last released its earnings results on Tuesday, November 5th. The company reported $0.68 EPS for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.02. Premier had a negative return on equity of 51.84% and a net margin of 17.74%. The firm had revenue of $302.40 million during the quarter, compared to the consensus estimate of $295.50 million. During the same quarter in the previous year, the company posted $0.65 earnings per share. The company’s revenue was up 3.3% compared to the same quarter last year. On average, research analysts predict that Premier will post 2.67 earnings per share for the current fiscal year.
Premier, Inc, together with its subsidiaries, operates as a healthcare improvement company in the United States. The company operates through two segments, Supply Chain Services and Performance Services. The Supply Chain Services segment offers its members with 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 services and software-as-a-service informatics products.
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