Zacks Investment Research Upgrades Premier (NASDAQ:PINC) to “Hold”

Zacks Investment Research upgraded shares of Premier (NASDAQ:PINC) from a sell rating to a hold rating in a research note issued to investors on Friday, Zacks.com reports.

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. “

Other equities analysts also recently issued reports about the company. Credit Suisse Group reiterated a neutral rating and set a $42.00 target price (down from $43.00) on shares of Premier in a research report on Tuesday, August 13th. BidaskClub upgraded Premier from a hold rating to a buy rating in a research report on Wednesday, August 7th. Guggenheim began coverage on Premier in a research report on Tuesday, June 18th. They set a neutral rating and a $41.00 target price on the stock. Finally, Citigroup upgraded Premier from a neutral rating to a buy rating and set a $45.00 target price on the stock in a research report on Thursday, May 2nd. Eleven research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Premier currently has an average rating of Hold and a consensus target price of $43.33.

NASDAQ PINC opened at $38.47 on Friday. The business’s 50-day moving average price is $39.24 and its 200 day moving average price is $36.88. Premier has a twelve month low of $31.31 and a twelve month high of $47.22. The company has a market capitalization of $4.87 billion, a PE ratio of 54.96, a price-to-earnings-growth ratio of 1.31 and a beta of 0.35.

In other news, SVP David Alfred Hargraves sold 1,037 shares of the firm’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $37.61, for a total value of $39,001.57. Following the transaction, the senior vice president now directly owns 10,024 shares in the company, valued at approximately $377,002.64. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 18.30% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in PINC. Principal Financial Group Inc. grew its position in Premier by 325.4% during the 4th quarter. Principal Financial Group Inc. now owns 38,160 shares of the company’s stock worth $1,426,000 after purchasing an additional 29,190 shares during the last quarter. Legal & General Group Plc grew its position in Premier by 15.6% during the 4th quarter. Legal & General Group Plc now owns 27,153 shares of the company’s stock worth $1,014,000 after purchasing an additional 3,665 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Premier by 7.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 888,445 shares of the company’s stock worth $33,183,000 after purchasing an additional 64,158 shares during the last quarter. Norges Bank purchased a new stake in Premier during the 4th quarter worth approximately $22,673,000. Finally, Geode Capital Management LLC grew its position in Premier by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 532,345 shares of the company’s stock worth $19,883,000 after purchasing an additional 3,730 shares during the last quarter. Institutional investors own 50.26% of the company’s stock.

About Premier

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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