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PINC

Premier

$31.86

0.29 (0.92%)

08:03
10/11/16
10/11
08:03
10/11/16
08:03

Premier plans to settle October Class B unit exchange with cash, stock

Premier announced its audit and compliance committee and board of directors authorized the use of up to $100M in cash to partially settle its upcoming member-owner exchange of Class B common units of Premier Healthcare Alliance, L.P. on October 31, 2016. Historically, Premier has settled each quarterly exchange solely with Class A common stock. However, as part of the exchange process, the company has the right to settle the exchange of Class B common units in either cash, Class A common stock, or a combination thereof. For the October 31st exchange, 46 of the company's 171 member owners have indicated that they plan to exchange approximately 5.0 million Class B common units. Each exchanging member owner also has the right to rescind its decision leading up to the exchange date. Any Class B common units not settled in cash will be exchanged for Class A common shares on a one-for-one basis, and be eligible to trade into the market after exchange. As a result of its decision to settle part of the exchange for cash, the company does not plan to conduct a company-directed offering, as it has voluntarily done in the past two years following the October 31st exchange.

PINC Premier
$31.86

0.29 (0.92%)

08/23/16
WELS
08/23/16
NO CHANGE
WELS
Premier results better than they look, says Wells Fargo
Wells Fargo says that Premier's results were "relatively in-line." Although headline EPS missed expectations, it actually was in-line, excluding the company's $4M-$5M severance payment, according to the firm. Wells notes that the company expects to generate approximately 10% organic growth going forward, and it continues to view the stock as a good play on trends currently affecting hospitals. Wells keeps an Outperform rating on the shares.
08/23/16
SBSH
08/23/16
NO CHANGE
Target $40
SBSH
Buy
Premier price target raised to $40 from $38 at Citi
Citi analyst Garen Sarafian noted that Premier reported mixed quarterly results and gave FY17 guidance that "adequately brackets or exceeds" consensus. The analyst still has a favorable view of Premier and it's "unique and fairly defensive" model and raised the firm's price target on shares to $40 from $38 following its earnings report while reiterating a Buy rating on the stock.
08/23/16
ADAM
08/23/16
NO CHANGE
Target $40
ADAM
Buy
Premier to stay range-bound, but shares attractive, says Canaccord
Canaccord analyst Richard Close believes shares of Premier will remain locked in a range until there is improvement in the Performance Services business, but they remain attractive especially following the stock's recent dip. Close believes the division, along with its Supply Change division, could have impressive upside and reiterated his Buy rating and $40 price target on Premier shares.
10/05/16
UBSW
10/05/16
INITIATION
Target $32.5
UBSW
Neutral
Premier initiated with a Neutral at UBS
Target $32.50.

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