Premier (NASDAQ:PINC) PT Lowered to $22.00 at Robert W. Baird

Premier (NASDAQ:PINC) had its price target decreased by analysts at Robert W. Baird from $25.00 to $22.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Robert W. Baird’s price objective indicates a potential upside of 13.34% from the stock’s current price.

A number of other equities research analysts also recently commented on the company. Canaccord Genuity Group lowered Premier from a “buy” rating to a “hold” rating and dropped their price target for the company from $27.00 to $21.00 in a research note on Wednesday. Leerink Partnrs reaffirmed a “market perform” rating on shares of Premier in a research note on Monday, February 26th. Canaccord Genuity Group restated a “hold” rating and set a $21.00 target price (down from $27.00) on shares of Premier in a research report on Wednesday. SVB Leerink started coverage on shares of Premier in a report on Monday, February 26th. They issued a “market perform” rating and a $22.50 price target for the company. Finally, StockNews.com cut Premier from a “buy” rating to a “hold” rating in a research note on Wednesday, February 7th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Premier has a consensus rating of “Hold” and an average target price of $23.77.

Premier Price Performance

Shares of NASDAQ:PINC opened at $19.41 on Wednesday. The firm has a market cap of $2.33 billion, a price-to-earnings ratio of 13.96, a P/E/G ratio of 5.22 and a beta of 0.39. The firm has a fifty day moving average price of $21.15 and a 200 day moving average price of $21.22. Premier has a fifty-two week low of $18.89 and a fifty-two week high of $28.30. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.32 and a current ratio of 1.43.

Premier (NASDAQ:PINC) last released its quarterly earnings data on Monday, February 5th. The company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.52 by $0.02. The business had revenue of $334.75 million during the quarter, compared to the consensus estimate of $338.55 million. Premier had a net margin of 12.71% and a return on equity of 11.60%. As a group, sell-side analysts expect that Premier will post 1.95 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Premier

A number of institutional investors and hedge funds have recently modified their holdings of the business. Arizona State Retirement System increased its stake in Premier by 1.6% in the third quarter. Arizona State Retirement System now owns 33,905 shares of the company’s stock worth $729,000 after purchasing an additional 518 shares during the period. Van ECK Associates Corp grew its holdings in shares of Premier by 22.4% in the fourth quarter. Van ECK Associates Corp now owns 3,289 shares of the company’s stock worth $74,000 after purchasing an additional 601 shares during the last quarter. Vontobel Holding Ltd. increased its stake in Premier by 2.4% in the 4th quarter. Vontobel Holding Ltd. now owns 27,382 shares of the company’s stock worth $612,000 after buying an additional 642 shares during the period. Hexagon Capital Partners LLC lifted its holdings in Premier by 71.7% during the 4th quarter. Hexagon Capital Partners LLC now owns 1,660 shares of the company’s stock valued at $37,000 after buying an additional 693 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its position in Premier by 53.0% in the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,138 shares of the company’s stock valued at $46,000 after buying an additional 741 shares during the period. 74.41% of the stock is owned by institutional investors.

Premier Company Profile

Premier, Inc, together with its subsidiaries, operates as a healthcare improvement company in the United States. It operates in two segments, Supply Chain Services and Performance Services. The Supply Chain Services segment offers its members with an 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 workforce solutions.