Premier, Inc. (NASDAQ:PINC) Given Consensus Recommendation of “Reduce” by Brokerages

Shares of Premier, Inc. (NASDAQ:PINC) have earned an average rating of “Reduce” from the seven brokerages that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $26.4583.

A number of research firms have weighed in on PINC. Piper Sandler increased their price target on shares of Premier from $28.00 to $28.25 and gave the stock a “neutral” rating in a research note on Wednesday, November 5th. Leerink Partners upped their price objective on Premier from $24.00 to $26.00 and gave the stock a “market perform” rating in a report on Tuesday, August 19th. Canaccord Genuity Group increased their target price on Premier from $25.00 to $28.25 and gave the stock a “hold” rating in a research report on Tuesday, September 23rd. Robert W. Baird boosted their price target on Premier from $22.00 to $27.00 and gave the company a “neutral” rating in a research report on Wednesday, August 20th. Finally, UBS Group upped their price target on Premier from $26.00 to $28.25 and gave the stock a “neutral” rating in a research note on Thursday, September 25th.

Premier Trading Down 0.0%

Shares of NASDAQ:PINC opened at $28.17 on Monday. The firm has a market cap of $2.33 billion, a price-to-earnings ratio of -104.33 and a beta of 0.64. The stock’s 50-day moving average price is $27.86 and its two-hundred day moving average price is $24.80. Premier has a 12-month low of $17.23 and a 12-month high of $28.79.

Premier (NASDAQ:PINC) last announced its quarterly earnings data on Tuesday, January 14th. The company reported $0.67 earnings per share for the quarter. Premier had a negative net margin of 3.28% and a positive return on equity of 6.84%. The business had revenue of ($713.06) million for the quarter. As a group, research analysts forecast that Premier will post 1.13 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Premier news, Director John T. Bigalke sold 1,137 shares of the business’s stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $25.79, for a total transaction of $29,323.23. Following the completion of the sale, the director directly owned 27,536 shares in the company, valued at $710,153.44. The trade was a 3.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel David L. Klatsky sold 1,319 shares of the stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $25.85, for a total transaction of $34,096.15. Following the completion of the sale, the general counsel directly owned 94,331 shares of the company’s stock, valued at $2,438,456.35. The trade was a 1.38% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 8,977 shares of company stock valued at $231,596. 0.96% of the stock is currently owned by corporate insiders.

Institutional Trading of Premier

A number of institutional investors have recently added to or reduced their stakes in the business. State Street Corp raised its position in Premier by 17.6% in the second quarter. State Street Corp now owns 4,259,088 shares of the company’s stock valued at $93,402,000 after purchasing an additional 638,498 shares during the period. American Century Companies Inc. raised its holdings in shares of Premier by 6.2% during the 3rd quarter. American Century Companies Inc. now owns 3,292,161 shares of the company’s stock valued at $91,522,000 after buying an additional 191,687 shares during the period. Geode Capital Management LLC raised its holdings in shares of Premier by 33.3% during the 2nd quarter. Geode Capital Management LLC now owns 2,247,171 shares of the company’s stock valued at $49,285,000 after buying an additional 561,262 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Premier by 4.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,897,424 shares of the company’s stock worth $36,582,000 after acquiring an additional 84,016 shares in the last quarter. Finally, 8 Knots Management LLC purchased a new position in Premier in the 2nd quarter worth approximately $37,151,000. 74.41% of the stock is owned by hedge funds and other institutional investors.

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.