Premier, Inc. (NASDAQ:PINC) Receives $26.46 Consensus Target Price from Brokerages

Premier, Inc. (NASDAQ:PINC) has been given a consensus rating of “Reduce” by the seven ratings firms that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation and six have given a hold recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $26.4583.

Several equities research analysts recently commented on PINC shares. Piper Sandler increased their price objective on Premier from $28.00 to $28.25 and gave the company a “neutral” rating in a research report on Wednesday, November 5th. Bank of America raised their price target on shares of Premier from $19.00 to $21.00 and gave the company an “underperform” rating in a report on Tuesday, August 19th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Premier in a research note on Wednesday, October 8th. Leerink Partners increased their price objective on shares of Premier from $24.00 to $26.00 and gave the company a “market perform” rating in a research report on Tuesday, August 19th. Finally, Robert W. Baird lifted their target price on shares of Premier from $22.00 to $27.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 20th.

Premier Stock Performance

NASDAQ:PINC opened at $28.26 on Monday. The firm has a market cap of $2.33 billion, a P/E ratio of -104.67 and a beta of 0.64. Premier has a fifty-two week low of $17.23 and a fifty-two week high of $28.79. The firm has a 50-day simple moving average of $27.97 and a two-hundred day simple moving average of $24.90.

Premier (NASDAQ:PINC) last posted its quarterly earnings results on Tuesday, January 14th. The company reported $0.67 EPS for the quarter. The firm had revenue of ($713.06) million for the quarter. Premier had a negative net margin of 3.28% and a positive return on equity of 6.84%. On average, equities research analysts predict that Premier will post 1.13 EPS for the current year.

Insiders Place Their Bets

In other news, Director John T. Bigalke sold 1,137 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $25.79, for a total value of $29,323.23. Following the transaction, the director owned 27,536 shares in the company, valued at $710,153.44. This represents a 3.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Andy Brailo sold 6,521 shares of the firm’s stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $25.79, for a total transaction of $168,176.59. Following the completion of the transaction, the insider directly owned 99,447 shares in the company, valued at approximately $2,564,738.13. The trade was a 6.15% decrease in their position. The SEC filing for this sale provides additional information. 0.96% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. First Horizon Advisors Inc. increased its stake in shares of Premier by 198.2% in the 2nd quarter. First Horizon Advisors Inc. now owns 1,130 shares of the company’s stock worth $25,000 after purchasing an additional 751 shares in the last quarter. Quent Capital LLC purchased a new stake in Premier in the third quarter worth about $36,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in shares of Premier in the second quarter worth about $32,000. Hantz Financial Services Inc. lifted its position in shares of Premier by 247.9% during the 3rd quarter. Hantz Financial Services Inc. now owns 1,722 shares of the company’s stock valued at $48,000 after buying an additional 1,227 shares in the last quarter. Finally, Signaturefd LLC lifted its position in shares of Premier by 72.2% during the 2nd quarter. Signaturefd LLC now owns 2,197 shares of the company’s stock valued at $48,000 after buying an additional 921 shares in the last quarter. Hedge funds and other institutional investors own 74.41% of the company’s stock.

About Premier

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.