Premier (NASDAQ:PINC) Price Target Lowered to $19.00 at Piper Sandler

Premier (NASDAQ:PINC) had its price target reduced by Piper Sandler from $21.00 to $19.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Piper Sandler’s price target would suggest a potential downside of 0.89% from the company’s current price.

Other equities research analysts also recently issued research reports about the stock. Robert W. Baird lowered their price objective on shares of Premier from $20.00 to $19.00 and set a “neutral” rating on the stock in a research note on Wednesday. StockNews.com downgraded shares of Premier from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th. Canaccord Genuity Group lowered their price objective on Premier from $21.00 to $19.00 and set a “hold” rating on the stock in a research report on Wednesday. Finally, Barclays upped their target price on shares of Premier from $20.00 to $24.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 6th. Ten research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $20.50.

Premier Stock Up 0.3 %

Shares of NASDAQ:PINC traded up $0.06 during trading on Wednesday, reaching $19.17. The stock had a trading volume of 822,371 shares, compared to its average volume of 1,265,439. The stock has a fifty day simple moving average of $21.83 and a two-hundred day simple moving average of $20.96. The firm has a market capitalization of $1.84 billion, a price-to-earnings ratio of 14.11 and a beta of 0.43. Premier has a 52 week low of $17.95 and a 52 week high of $23.56.

Premier (NASDAQ:PINC) last released its earnings results on Tuesday, November 5th. The company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.09. The firm had revenue of $248.14 million during the quarter, compared to analyst estimates of $232.85 million. Premier had a net margin of 11.41% and a return on equity of 10.74%. The business’s revenue was down 7.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.50 EPS. On average, analysts forecast that Premier will post 1.12 EPS for the current year.

Insiders Place Their Bets

In other news, Director Helen M. Boudreau sold 2,500 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $21.42, for a total value of $53,550.00. Following the transaction, the director now directly owns 20,668 shares in the company, valued at $442,708.56. This trade represents a 10.79 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Leigh Anderson sold 20,000 shares of the stock in a transaction on Friday, December 20th. The stock was sold at an average price of $21.88, for a total transaction of $437,600.00. Following the completion of the sale, the chief operating officer now owns 111,707 shares in the company, valued at approximately $2,444,149.16. This trade represents a 15.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 59,425 shares of company stock valued at $1,320,242. Insiders own 0.96% of the company’s stock.

Institutional Investors Weigh In On Premier

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Illinois Municipal Retirement Fund raised its stake in shares of Premier by 3.7% in the 4th quarter. Illinois Municipal Retirement Fund now owns 58,214 shares of the company’s stock valued at $1,234,000 after purchasing an additional 2,072 shares during the period. Venturi Wealth Management LLC raised its position in Premier by 619.9% in the 4th quarter. Venturi Wealth Management LLC now owns 6,414 shares of the company’s stock valued at $136,000 after buying an additional 5,523 shares during the last quarter. Sanctuary Advisors LLC bought a new stake in Premier in the 4th quarter valued at approximately $353,000. Van ECK Associates Corp boosted its position in Premier by 28.0% during the 4th quarter. Van ECK Associates Corp now owns 2,041 shares of the company’s stock worth $43,000 after acquiring an additional 446 shares during the last quarter. Finally, Summit Trail Advisors LLC bought a new position in shares of Premier during the 4th quarter worth approximately $668,000. 74.41% of the stock is currently owned by institutional investors and hedge funds.

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.