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. “
A number of other equities research analysts have also issued reports on the stock. Guggenheim started coverage on shares of Premier in a report on Tuesday, June 18th. They issued a neutral rating and a $41.00 price objective for the company. BidaskClub raised shares of Premier from a hold rating to a buy rating in a report on Wednesday, August 7th. Citigroup raised shares of Premier from a neutral rating to a buy rating and set a $45.00 price objective for the company in a report on Thursday, May 2nd. Finally, Credit Suisse Group reissued a neutral rating and issued a $42.00 price objective (down previously from $43.00) on shares of Premier in a report on Tuesday, August 13th. Eleven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $43.33.
Shares of PINC opened at $38.47 on Friday. Premier has a 12-month low of $31.31 and a 12-month high of $47.22. The firm has a 50-day moving average price of $39.24 and a 200 day moving average price of $36.88. The firm has a market capitalization of $4.87 billion, a P/E ratio of 54.96, a P/E/G ratio of 1.31 and a beta of 0.35.
In other Premier news, SVP David Alfred Hargraves sold 1,037 shares of the stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $37.61, for a total transaction of $39,001.57. Following the completion of the transaction, the senior vice president now owns 10,024 shares of the company’s stock, valued at $377,002.64. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 18.30% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Royce & Associates LP boosted its stake in shares of Premier by 48.6% in the first quarter. Royce & Associates LP now owns 1,388 shares of the company’s stock valued at $48,000 after purchasing an additional 454 shares during the period. Quadrant Capital Group LLC boosted its stake in shares of Premier by 980.4% in the first quarter. Quadrant Capital Group LLC now owns 2,042 shares of the company’s stock valued at $68,000 after purchasing an additional 1,853 shares during the period. Financial Gravity Wealth Inc. boosted its stake in shares of Premier by 401.7% in the second quarter. Financial Gravity Wealth Inc. now owns 2,067 shares of the company’s stock valued at $81,000 after purchasing an additional 1,655 shares during the period. Tower Research Capital LLC TRC purchased a new position in shares of Premier in the second quarter valued at approximately $100,000. Finally, Cambria Investment Management L.P. purchased a new position in shares of Premier in the first quarter valued at approximately $131,000. 50.26% of the stock is owned by institutional investors and hedge funds.
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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