Worth Watching: Could Premier Inc Go Up After Reaching Yearly Low?

Worth Watching: Could Premier Inc Go Up After Reaching Yearly Low?

The stock of Premier Inc (NASDAQ:PINC) hit a new 52-week low and has $27.16 target or 6.00% below today’s $28.89 share price. The 8 months bearish chart indicates high risk for the $4.18B company. The 1-year low was reported on Nov, 7 by Barchart.com. If the $27.16 price target is reached, the company will be worth $250.80 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 331,326 shares traded hands. Premier Inc (NASDAQ:PINC) has declined 8.97% since April 5, 2016 and is downtrending. It has underperformed by 10.93% the S&P500.

Premier Inc (NASDAQ:PINC) Ratings Coverage

Out of 13 analysts covering Premier (NASDAQ:PINC), 10 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 77% are positive. Premier has been the topic of 21 analyst reports since August 25, 2015 according to StockzIntelligence Inc. The rating was initiated by Barclays Capital on Wednesday, June 1 with “Overweight”. As per Wednesday, October 7, the company rating was maintained by Oppenheimer. Oppenheimer maintained Premier Inc (NASDAQ:PINC) on Tuesday, August 25 with “In-Line” rating. The firm has “Buy” rating by Canaccord Genuity given on Tuesday, August 25. UBS initiated the shares of PINC in a report on Thursday, October 6 with “Neutral” rating. As per Tuesday, August 25, the company rating was maintained by William Blair. The stock of Premier Inc (NASDAQ:PINC) has “Outperform” rating given on Friday, August 5 by Credit Suisse. The firm earned “Buy” rating on Tuesday, August 23 by Citigroup. The stock has “Outperform” rating given by Avondale on Wednesday, November 11. The rating was maintained by JP Morgan on Wednesday, October 7 with “Overweight”.

According to Zacks Investment Research, “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.”

Insitutional Activity: The institutional sentiment increased to 1.94 in Q2 2016. Its up 0.43, from 1.51 in 2016Q1. The ratio improved, as 13 funds sold all Premier Inc shares owned while 40 reduced positions. 32 funds bought stakes while 71 increased positions. They now own 46.38 million shares or 4.73% more from 44.29 million shares in 2016Q1.
Portolan Ltd Liability Corporation holds 2.54% of its portfolio in Premier Inc (NASDAQ:PINC) for 540,388 shares. Point72 Asia (Hong Kong) Limited accumulated 127 shares or 0% of the stock. Bokf Na last reported 6,695 shares in the company. Finemark National Bank & last reported 40 shares in the company. Calvert Investment Mngmt has invested 0.01% of its portfolio in Premier Inc (NASDAQ:PINC). Hsbc Pcl holds 0% of its portfolio in Premier Inc (NASDAQ:PINC) for 8,067 shares. Utah Retirement holds 8,300 shares or 0.01% of its portfolio. Echo Street Ltd Company accumulated 1.28M shares or 1.75% of the stock. Moreover, Assetmark has 0% invested in Premier Inc (NASDAQ:PINC) for 428 shares. Barclays Public Limited Com last reported 191 shares in the company. Archford Capital Strategies Ltd Liability Company holds 112 shares or 0% of its portfolio. Deutsche Financial Bank Ag accumulated 0% or 100,646 shares. Putnam Ltd Company owns 773,807 shares or 0.06% of their US portfolio. Nordea Ab last reported 0% of its portfolio in the stock. Qualcomm Incorporated De owns 98,380 shares or 0.43% of their US portfolio.

Insider Transactions: Since May 9, 2016, the stock had 1 buying transaction, and 2 insider sales for $780,049 net activity. Shares for $680,000 were sold by Gilbert Durral R.. Figlioli Keith J. sold 28,715 shares worth $976,310. Shares for $223,689 were sold by Champion R. Wesley. $123,640 worth of Premier Inc (NASDAQ:PINC) was bought by D’ARCY STEPHEN R..

More notable recent Premier Inc (NASDAQ:PINC) news were published by: Businesswire.com which released: “Northern Arizona Healthcare Partners with Premier Inc. to Drive Greater …” on November 03, 2016, also Businesswire.com with their article: “Premier Inc. Definitive Guide to MACRA will Help Providers Optimize Payments …” published on November 02, 2016, Finance.Yahoo.com published: “Premier Inc. Plans To Settle October Class B Unit Exchange Using Combination …” on October 11, 2016. More interesting news about Premier Inc (NASDAQ:PINC) were released by: Prnewswire.com and their article: “Premier Inc. Selects RXTransparent Compliance Solution to Address DSCSA …” published on October 19, 2016 as well as Businesswire.com‘s news article titled: “Teleflex Incorporated Signs New Agreement with Premier Inc. for Implantable …” with publication date: October 28, 2016.

PINC Company Profile

Premier, Inc., incorporated on May 14, 2013, is a healthcare improvement company. The Firm is uniting an alliance of approximately 3,750 United States hospitals and more than 130,000 other well-known provider organizations to transform healthcare. The Firm operates healthcare group purchasing organizations and also provides integrated data and analytics, supply chain solutions, advisory services, performance improvement collaborative and other services. The Firm plays a role in the healthcare industry, collaborating with members to co-develop long-term innovations that reinvent and improve the way care is delivered to patients nationwide.

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