Premier (NASDAQ:PINC) PT Lowered to $31.00 at Piper Sandler


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Premier (NASDAQ:PINC) had its price objective decreased by stock analysts at Piper Sandler from $36.00 to $31.00 in a report issued on Tuesday, The Fly reports. Piper Sandler’s price objective would indicate a potential downside of 11.55% from the company’s current price.

PINC has been the subject of several other reports. Canaccord Genuity increased their price target on shares of Premier from $37.00 to $44.00 and gave the stock a “buy” rating in a report on Thursday, January 7th. Benchmark raised shares of Premier from a “hold” rating to a “buy” rating and set a $42.00 target price for the company in a report on Wednesday, February 3rd. Bank of America cut shares of Premier from a “buy” rating to an “underperform” rating and dropped their target price for the company from $41.00 to $36.00 in a report on Tuesday, January 19th. Raymond James increased their target price on shares of Premier from $37.00 to $39.00 and gave the company an “outperform” rating in a report on Wednesday, February 3rd. Finally, Zacks Investment Research cut shares of Premier from a “buy” rating to a “hold” rating in a report on Tuesday, February 9th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $38.00.

NASDAQ PINC traded down $0.70 during trading hours on Tuesday, hitting $35.05. 11,818 shares of the stock were exchanged, compared to its average volume of 515,789. The company has a market cap of $4.28 billion, a price-to-earnings ratio of -6.71, a price-to-earnings-growth ratio of 2.25 and a beta of 0.26. Premier has a 12-month low of $28.64 and a 12-month high of $37.79. The stock has a 50-day moving average of $34.55 and a 200 day moving average of $34.79. The company has a quick ratio of 0.86, a current ratio of 1.07 and a debt-to-equity ratio of 0.18.

Premier (NASDAQ:PINC) last posted its quarterly earnings results on Tuesday, May 4th. The company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.13. The firm had revenue of $469.92 million during the quarter, compared to analysts’ expectations of $448.08 million. Premier had a net margin of 3.26% and a return on equity of 65.81%. The firm’s revenue for the quarter was up 40.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.73 earnings per share. On average, equities research analysts expect that Premier will post 2.1 earnings per share for the current year.

In related news, CFO Craig S. Mckasson sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 4th. The shares were sold at an average price of $35.11, for a total transaction of $175,550.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.40% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. CI Investments Inc. acquired a new stake in Premier during the fourth quarter worth approximately $39,000. Perigon Wealth Management LLC acquired a new stake in Premier during the fourth quarter worth approximately $45,000. Sowell Financial Services LLC boosted its position in Premier by 42.8% during the fourth quarter. Sowell Financial Services LLC now owns 1,527 shares of the company’s stock worth $54,000 after acquiring an additional 458 shares during the last quarter. American International Group Inc. boosted its position in Premier by 96.5% during the fourth quarter. American International Group Inc. now owns 1,576 shares of the company’s stock worth $55,000 after acquiring an additional 774 shares during the last quarter. Finally, Great West Life Assurance Co. Can boosted its position in Premier by 9.2% during the third quarter. Great West Life Assurance Co. Can now owns 5,700 shares of the company’s stock worth $187,000 after acquiring an additional 480 shares during the last quarter. Hedge funds and other institutional investors own 62.53% 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 through two segments, Supply Chain Services and Performance Services. The Supply Chain Services segment offers its members with 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 document shredding services.

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