Jefferies took its Premier [PINC] rating to the equivalent of Hold from Buy, in a research note dated 2021-01-08. Other analysts also revised their coverage, with Guggenheim’s analysts upgrading the shares from “a Neutral” rating to “a Buy” rating in a research note to investors issued in late August. Meanwhile, The Benchmark Company had lowered its rating on PINC to “Hold” from the earlier “Buy”, in a research note produced for clients August 26, 2020. In addition, Cantor Fitzgerald launched coverage on May 12, 2020. The research firm rated PINC “an Overweight”.
Is Premier Inc. [NASDAQ:PINC] a Good Buy Right Now?
It should be noted that PINC technical indicators for short, intermediate as well as long term progress have placed an overall average of 100% as Buy. The average signal changed from 80% Buy in the last week and compares with 100% Buy in the past month. Data from Premier Inc.’s Trend Spotter indicated that the signals were Strongest. The stock current average is 0.82 million shares in the past 20 days and the short term average signal indicates a 100% Buy. In the last 50 days, the average trading volume was 0.71 million shares while the medium term average advocated for 100% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 0.68 million shares.
PINC Price Performance
On Wall Street, Premier Inc. [NASDAQ:PINC] finished Thursday’s session up 0.78% at $37.42. The stock went up to $37.5642 at the same session while its lowest single day price was $36.55. In the last five days, it saw a rise of about 6.55%, Premier Inc. shares gained by almost 6.61% since the beginning of the year. However, the share price has dropped to as low as -0.98% below its one year high. On 01/06/21, the company shares recorded $37.79, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/04/21, the same year at $34.47. The company’s shares have inclined by 4.18% in the past year. The 50-day SMA achieved is $34.96 while the 200-day SMA is $33.51. Volume dropped to 0.5 million from 1.87 million in the previous session.
PINC Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 36.79 level, and in case of violation of this particular level, it will cause more drop to 36.16 level. On the upper level, 38.19 is still the key resistance. The stock may increase to the subsequent resistance at 37.81. The Relative Strength Index (RSI) pinned on the 14-day chart is 66.19, implying a neutral technical stance while the MACD stands at 1.50, meaning price will increase in the next trading period. Percent R indicator moved to 9.11%, implying bullish price movement. Stochastic %K at 87.91% suggest selling the stock.
What is the short interest in Premier Inc.?
Short interest in the Premier Inc. stock has surged, increasing by 0.33 million shares to total 2.93 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 3.26 million, data from Yahoo Finance shows. The decrease of -11.26% suggests the stock saw some decreased bullish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 2.42% of the overall float for the stock.
Premier Inc.’s Biggest Shareholders: Who Owns Premier Inc. [PINC]?
Filings by The Vanguard Group, Inc. showed that the firm now holds a total of 9,536,689 shares or roughly 7.81% of the outstanding PINC shares. This means their shares have increased by 3,114,112 from the 9,536,689 the investor reportedly held in its prior 13-F filing. With the conclusion of the purchase, River Road Asset Management LLC updated stake is worth $221,779,248. Details in the latest 13F filings reveal that Massachusetts Financial Services disposed off their -0.29% stake valued at $213,205,802 while Mackenzie Financial Corp. added theirs at $148,179,605. During the last quarter, Massachusetts Financial Services liquidated -17,783 of its shares in Premier Inc. while Mackenzie Financial Corp. bought 611,960 shares. The Renaissance Technologies LLC’s holdings currently number 3,780,306 shares at $141459050.52. According to the firm’s last 13F report, Adventist Health System Sunbelt H shares in the company at filing stood at 3,566,582 shares, roughly $126,328,334.
PINC Earnings Forecast For The Current Quarter
Premier Inc. [PINC] is expected to report weak earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $386.49M and an earnings per share of $0.54 for Dec 2020. Looking further ahead, the company is expected to report revenue of $340.9M at an EPS of $0.57 for Mar 2021. The estimates represent -4.00% and 9.33% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
PINC Earnings Estimates For The Current Year
For the financial year, Premier Inc. [NASDAQ:PINC] is expected to bring in revenue of $1.39B. The returns are nearly $90.0 million higher than the company’s actual revenue recorded in the fiscal year 2020. In terms of EPS for the 2021, estimate put it at 2.25, lower than that of FY20 by -$0.48. Estimates put this year’s earnings growth at -17.60%, 9.30% for the next, and at an annual 7.00% over the next 5-year period. As for sales, forecasts are for an increase of 6.60% in the current fiscal year and a further -4.00% over the following year.