Robert W. Baird Issues Pessimistic Forecast for Premier (NASDAQ:PINC) Stock Price

Premier (NASDAQ:PINC) had its price target cut by analysts at Robert W. Baird from $20.00 to $19.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Robert W. Baird’s price target would suggest a potential upside of 1.17% from the company’s current price.

A number of other equities analysts have also issued reports on PINC. StockNews.com lowered shares of Premier from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. Barclays increased their price target on shares of Premier from $20.00 to $24.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 6th. Finally, Canaccord Genuity Group decreased their price objective on shares of Premier from $21.00 to $19.00 and set a “hold” rating on the stock in a research report on Wednesday. Ten equities research analysts have rated the stock with a hold rating, According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $20.93.

Premier Stock Down 1.7 %

Premier stock traded down $0.33 during trading on Wednesday, hitting $18.78. The stock had a trading volume of 49,726 shares, compared to its average volume of 1,233,415. Premier has a 1 year low of $17.95 and a 1 year high of $23.56. The stock’s 50 day moving average is $21.83 and its two-hundred day moving average is $20.96. The stock has a market cap of $1.80 billion, a price-to-earnings ratio of 13.87 and a beta of 0.43.

Premier (NASDAQ:PINC) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.09. Premier had a return on equity of 10.74% and a net margin of 11.41%. The business had revenue of $248.14 million for the quarter, compared to the consensus estimate of $232.85 million. During the same period in the prior year, the business earned $0.50 earnings per share. The business’s revenue was down 7.8% on a year-over-year basis. As a group, equities research analysts anticipate that Premier will post 1.12 EPS for the current fiscal year.

Insider Transactions at Premier

In related news, Director John T. Bigalke sold 1,136 shares of the company’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $22.19, for a total transaction of $25,207.84. Following the completion of the transaction, the director now owns 23,846 shares of the company’s stock, valued at approximately $529,142.74. This represents a 4.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Michael J. Alkire sold 17,415 shares of the business’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $23.16, for a total transaction of $403,331.40. Following the transaction, the chief executive officer now directly owns 520,728 shares of the company’s stock, valued at $12,060,060.48. The trade was a 3.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 59,425 shares of company stock valued at $1,320,242 over the last ninety days. 0.96% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Premier

A number of large investors have recently modified their holdings of PINC. Illinois Municipal Retirement Fund lifted its position in Premier by 3.7% during the 4th quarter. Illinois Municipal Retirement Fund now owns 58,214 shares of the company’s stock worth $1,234,000 after buying an additional 2,072 shares in the last quarter. Venturi Wealth Management LLC raised its holdings in shares of Premier by 619.9% during 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 in the last quarter. Sanctuary Advisors LLC bought a new position in Premier during the fourth quarter valued at approximately $353,000. Van ECK Associates Corp lifted its position in shares of Premier by 28.0% during the fourth quarter. Van ECK Associates Corp now owns 2,041 shares of the company’s stock worth $43,000 after purchasing an additional 446 shares during the last quarter. Finally, Summit Trail Advisors LLC acquired a new position in Premier during the fourth quarter worth $668,000. Hedge funds and other institutional investors own 74.41% of the company’s stock.

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.