Premier (NASDAQ:PINC – Get Free Report) Canaccord Genuity Group lowered its price target from $21.00 to $20.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has a “hold” rating on the stock. Canaccord Genuity Group’s price target points to a potential downside of 0.35% from the company’s previous close.

Several other analysts have also recently issued reports on PINC. StockNews.com raised shares of Premier from a “hold” rating to a “buy” rating in a research note on Thursday, May 9th. Piper Sandler lowered their price target on shares of Premier from $24.00 to $22.00 and set a “neutral” rating on the company in a research note on Wednesday, May 8th. Canaccord Genuity Group lowered shares of Premier from a “buy” rating to a “hold” rating and lowered their price target on the stock from $27.00 to $21.00 in a research note on Wednesday, May 8th. Robert W. Baird lowered their price target on shares of Premier from $22.00 to $19.00 and set a “neutral” rating on the company in a research note on Wednesday. Finally, JPMorgan Chase & Co. lowered shares of Premier from a “buy” rating to a “hold” rating and lowered their price target on the stock from $27.00 to $21.00 in a research note on Wednesday, May 8th. their price objective on shares of Premier from $23.00 to $21.00 and set a “neutral” rating for the company in a research note on Tuesday, May 28. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $23.14.

Check out our latest analysis on Premier

Premier Price Performance

NASDAQ PINC opened Wednesday at $20.07. The company has a quick ratio of 0.82, a current ratio of 0.93 and a debt-to-equity ratio of 0.01. The stock has a market cap of $2.10 billion, a PE ratio of 31.50, a price-to-earnings-growth ratio of 6.62 and a beta of 0.42. The company has a 50-day moving average price of $19.34 and a 200-day moving average price of $20.19. Premier has a 12-month low of $17.95 and a 12-month high of $24.27.

Premier (NASDAQ:PINC – Get Free Report) last released its earnings results on Tuesday, August 20. The company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.25. The company had revenue of $350.30 million during the quarter, compared to analysts’ expectations of $308.88 million. Premier had a net margin of 6.01% and a return on equity of 11.71%. The company’s revenue increased 2.9% compared to the year-ago quarter. In the same period last year, the company earned $0.70 in earnings per share. As a group, equities analysts predict that Premier will post 1.96 EPS for the current fiscal year.

Insider Activity at Premier

In related news, CEO Michael J. Alkire sold 18,771 shares of the company’s stock in a transaction on Wednesday, July 31. The shares were sold at an average price of $21.12, for a total transaction of $396,443.52. Following the completion of the transaction, the chief executive officer now directly owns 543,927 shares of the company’s stock, valued at approximately $11,487,738.24. The transaction was disclosed in a filing with the SEC, available on the SEC website. In other Premier news, CEO Michael J. Alkire sold 18,771 shares of the company’s stock in a transaction on Wednesday, July 31. The shares were sold at an average price of $21.12, for a total transaction value of $396,443.52. Following the sale, the chief executive officer now owns 543,927 shares of the company’s stock, valued at approximately $11,487,738.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, available at this link. Also, General Counsel David L. Klatsky sold 13,339 shares of the company’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $18.55, for a total transaction of $247,438.45. Following the completion of the sale, the general counsel now directly owns 92,001 shares of the company’s stock, valued at approximately $1,706,618.55. The disclosure for this sale can be found here. Insiders sold a total of 125,428 shares of the company’s stock worth $2,471,783 in the last ninety days. Currently, 0.85% of the shares are held by insiders.

Institutional investors weigh Premier

Several institutional investors and hedge funds have recently bought and sold shares of PINC. Zurcher Kantonalbank Zurich Cantonalbank increased its shares in Premier by 13.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,169 shares of the company’s stock worth $652,000 after purchasing an additional 3,412 shares during the period. Signaturefd LLC increased its shares in Premier by 76.2% in the 4th quarter. Signaturefd LLC now owns 8,999 shares of the company’s stock worth $201,000 after purchasing an additional 3,893 shares during the period. Handelsbanken Fonder AB increased its shares in Premier by 151.3% in the 4th quarter. Handelsbanken Fonder AB now owns 59,795 shares of the company’s stock worth $1,337,000 after purchasing an additional 36,000 shares in the last quarter. Wedge Capital Management LLP NC increased its holdings in Premier by 19.7% in the 4th quarter. Wedge Capital Management LLP NC now owns 60,898 shares of the company’s stock worth $1,362,000 after purchasing an additional 10,020 shares in the last quarter. Finally, Illinois Municipal Retirement Fund purchased a new stake in shares of Premier in the 4th quarter worth approximately $1,529,000. Institutional investors own 74.41% of the company’s stock.

Premier Company Profile

(Get free report)

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 provides its members with access to a variety of products and services, including medical and surgical products, pharmaceuticals, laboratory supplies, capital equipment, information technology, facilities and construction, and food and nutrition products, as well as purchased services, such as clinical engineering and workforce solutions.

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