Premier (NASDAQ:PINC) PT Lowered to $22.00

Premier (NASDAQ:PINC) had its price objective decreased by stock analysts at Piper Sandler from $24.00 to $22.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the stock. Piper Sandler’s price target would indicate a potential upside of 11.34% from the company’s current price.

Several other research firms also recently weighed in on PINC. Canaccord Genuity Group downgraded Premier from a “buy” rating to a “hold” rating and decreased their target price for the company from $27.00 to $21.00 in a research report on Wednesday. SVB Leerink assumed coverage on shares of Premier in a research note on Monday, February 26th. They set a “market perform” rating and a $22.50 target price on the stock. Canaccord Genuity Group reiterated a “hold” rating and issued a $21.00 target price (down from $27.00) on shares of Premier in a research report on Wednesday. StockNews.com lowered shares of Premier from a “buy” rating to a “hold” rating in a research report on Wednesday, February 7th. Finally, Robert W. Baird dropped their price objective on shares of Premier from $25.00 to $22.00 and set a “neutral” rating for the company in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Premier presently has an average rating of “Hold” and an average price target of $23.50.

Premier Price Performance

Shares of NASDAQ PINC opened at $19.76 on Wednesday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.32 and a current ratio of 1.43. The firm has a market cap of $2.37 billion, a PE ratio of 14.22, a PEG ratio of 5.22 and a beta of 0.39. Premier has a one year low of $18.65 and a one year high of $28.30. The firm has a fifty day moving average of $21.10 and a 200 day moving average of $21.20.

Premier (NASDAQ:PINC) last issued its quarterly earnings results on Monday, February 5th. The company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.02. Premier had a net margin of 12.71% and a return on equity of 11.60%. The firm had revenue of $334.75 million for the quarter, compared to analyst estimates of $338.55 million. As a group, research analysts predict that Premier will post 1.95 EPS for the current fiscal year.

Hedge Funds Weigh In On Premier

Several large investors have recently made changes to their positions in the stock. Global Retirement Partners LLC raised its position in Premier by 153.3% in the fourth quarter. Global Retirement Partners LLC now owns 1,583 shares of the company’s stock valued at $35,000 after purchasing an additional 958 shares during the period. Hexagon Capital Partners LLC raised its holdings in shares of Premier by 71.7% in the 4th quarter. Hexagon Capital Partners LLC now owns 1,660 shares of the company’s stock valued at $37,000 after buying an additional 693 shares during the period. Parallel Advisors LLC lifted its stake in Premier by 141.2% during the 4th quarter. Parallel Advisors LLC now owns 1,980 shares of the company’s stock worth $44,000 after acquiring an additional 1,159 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in Premier by 53.0% during the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,138 shares of the company’s stock valued at $46,000 after acquiring an additional 741 shares during the period. Finally, Janiczek Wealth Management LLC boosted its holdings in Premier by 246.5% during the 4th quarter. Janiczek Wealth Management LLC now owns 2,533 shares of the company’s stock valued at $57,000 after acquiring an additional 1,802 shares during the period. 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.