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

Premier (NASDAQ:PINC) had its target price decreased by investment analysts at Piper Sandler from $21.00 to $19.00 in a report released on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Piper Sandler’s target price points to a potential upside of 0.26% from the stock’s current price.

PINC has been the topic of several other reports. Barclays boosted their price target on shares of Premier from $20.00 to $24.00 and gave the company an “equal weight” rating in a report on Wednesday, November 6th. Robert W. Baird lowered their target price on Premier from $20.00 to $19.00 and set a “neutral” rating on the stock in a research note on Wednesday. StockNews.com downgraded Premier from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th. Finally, Canaccord Genuity Group lowered their price target on Premier from $21.00 to $19.00 and set a “hold” rating for the company in a research note on Wednesday. Ten research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $20.50.

Premier Price Performance

NASDAQ:PINC opened at $18.95 on Wednesday. The stock has a market cap of $1.82 billion, a PE ratio of 13.93 and a beta of 0.43. Premier has a fifty-two week low of $17.95 and a fifty-two week high of $23.56. The stock’s 50-day moving average is $21.68 and its two-hundred day moving average is $20.93.

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

Insiders Place Their Bets

In related news, Director Helen M. Boudreau sold 2,500 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $21.42, for a total transaction of $53,550.00. Following the completion of the sale, the director now owns 20,668 shares in the company, valued at $442,708.56. This represents a 10.79 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael J. Alkire sold 17,415 shares of Premier stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $23.16, for a total value of $403,331.40. Following the completion of the transaction, the chief executive officer now directly owns 520,728 shares in the company, valued at approximately $12,060,060.48. This represents a 3.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 59,425 shares of company stock valued at $1,320,242 over the last 90 days. 0.96% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Premier

Several hedge funds and other institutional investors have recently modified their holdings of PINC. Brooklyn Investment Group boosted its holdings in Premier by 61,750.0% in the 4th quarter. Brooklyn Investment Group now owns 1,237 shares of the company’s stock valued at $26,000 after purchasing an additional 1,235 shares during the period. GAMMA Investing LLC lifted its stake in shares of Premier by 137.6% in the third quarter. GAMMA Investing LLC now owns 1,347 shares of the company’s stock valued at $27,000 after buying an additional 780 shares during the period. SRS Capital Advisors Inc. grew its position in Premier by 157.8% during the fourth quarter. SRS Capital Advisors Inc. now owns 1,284 shares of the company’s stock worth $27,000 after buying an additional 786 shares in the last quarter. Keystone Financial Group Inc. acquired a new position in Premier in the 4th quarter valued at approximately $37,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Premier in the 3rd quarter worth approximately $39,000. Institutional investors and hedge funds 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.