Piper Sandler Cuts Premier (NASDAQ:PINC) Price Target to $22.00

Premier (NASDAQ:PINC) had its target price reduced by analysts at Piper Sandler from $24.00 to $22.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the stock. Piper Sandler’s price objective points to a potential upside of 12.30% from the stock’s previous close.

A number of other equities research analysts have also commented on PINC. SVB Leerink assumed coverage on shares of Premier in a report on Monday, February 26th. They set a “market perform” rating and a $22.50 price objective on the stock. Canaccord Genuity Group lowered shares of Premier from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $27.00 to $21.00 in a report on Wednesday. Leerink Partnrs reiterated a “market perform” rating on shares of Premier in a research note on Monday, February 26th. Robert W. Baird lowered their price target on shares of Premier from $25.00 to $22.00 and set a “neutral” rating on the stock in a research note on Wednesday. Finally, Canaccord Genuity Group reiterated a “hold” rating and issued a $21.00 price target (down from $27.00) on shares of Premier in a research note on Wednesday. One analyst has rated the stock with a sell rating, eleven have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $23.50.

Premier Trading Up 0.9 %

PINC traded up $0.18 during mid-day trading on Wednesday, hitting $19.59. The stock had a trading volume of 1,270,683 shares, compared to its average volume of 1,548,574. The stock’s fifty day simple moving average is $21.15 and its 200-day simple moving average is $21.22. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.43 and a quick ratio of 1.32. The firm has a market capitalization of $2.35 billion, a price-to-earnings ratio of 14.08, a price-to-earnings-growth ratio of 5.22 and a beta of 0.39. Premier has a 1-year low of $18.65 and a 1-year high of $28.30.

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

Institutional Trading of Premier

Institutional investors have recently bought and sold shares of the business. Norges Bank acquired a new stake in shares of Premier in the fourth quarter valued at approximately $51,271,000. Pacer Advisors Inc. raised its holdings in Premier by 65.8% in the 4th quarter. Pacer Advisors Inc. now owns 5,609,924 shares of the company’s stock valued at $125,438,000 after acquiring an additional 2,225,828 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Premier by 12.9% during the 3rd quarter. Vanguard Group Inc. now owns 14,013,386 shares of the company’s stock valued at $301,288,000 after acquiring an additional 1,597,067 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of Premier by 139.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,121,702 shares of the company’s stock worth $47,441,000 after purchasing an additional 1,235,017 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Premier by 7,070.1% in the third quarter. Principal Financial Group Inc. now owns 633,188 shares of the company’s stock worth $13,614,000 after purchasing an additional 624,357 shares during the period. Institutional investors own 74.41% 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 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.