Premier (NASDAQ:PINC) Price Target Cut to $44.00

Premier (NASDAQ:PINCGet Rating) had its price objective lowered by equities research analysts at Canaccord Genuity Group from $47.00 to $44.00 in a note issued to investors on Wednesday, The Fly reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s price target suggests a potential upside of 19.21% from the stock’s current price.

A number of other equities analysts have also recently weighed in on PINC. Credit Suisse Group initiated coverage on Premier in a report on Friday, April 1st. They set an “underperform” rating and a $35.00 price target for the company. Zacks Investment Research raised Premier from a “sell” rating to a “hold” rating in a research note on Tuesday, April 12th. Piper Sandler raised Premier from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $39.00 to $45.00 in a research note on Wednesday. Guggenheim initiated coverage on Premier in a research note on Wednesday, April 13th. They set a “neutral” rating on the stock. Finally, StockNews.com lowered Premier from a “strong-buy” rating to a “buy” rating in a research note on Thursday, April 28th. Two analysts have rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $42.57.

NASDAQ PINC opened at $36.91 on Wednesday. The stock has a market cap of $4.40 billion, a PE ratio of 15.98, a P/E/G ratio of 1.82 and a beta of 0.28. The company has a current ratio of 1.01, a quick ratio of 0.80 and a debt-to-equity ratio of 0.11. Premier has a twelve month low of $32.57 and a twelve month high of $42.15. The stock has a fifty day simple moving average of $36.24 and a 200-day simple moving average of $37.98.

Premier (NASDAQ:PINCGet Rating) last released its quarterly earnings results on Tuesday, May 3rd. The company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.05. The business had revenue of $347.84 million during the quarter, compared to analysts’ expectations of $340.10 million. Premier had a return on equity of 12.07% and a net margin of 18.14%. The company’s revenue was down 26.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.55 EPS. Research analysts predict that Premier will post 2.25 EPS for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. State of New Jersey Common Pension Fund D increased its holdings in shares of Premier by 0.4% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 77,365 shares of the company’s stock valued at $3,185,000 after acquiring an additional 270 shares during the last quarter. US Bancorp DE increased its holdings in shares of Premier by 16.9% in the 3rd quarter. US Bancorp DE now owns 2,894 shares of the company’s stock valued at $112,000 after acquiring an additional 419 shares during the last quarter. Citigroup Inc. increased its holdings in shares of Premier by 0.8% in the 3rd quarter. Citigroup Inc. now owns 66,672 shares of the company’s stock valued at $2,583,000 after acquiring an additional 543 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Premier by 1.3% in the 1st quarter. Victory Capital Management Inc. now owns 45,606 shares of the company’s stock valued at $1,651,000 after acquiring an additional 603 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System increased its holdings in shares of Premier by 1.0% in the 4th quarter. State Board of Administration of Florida Retirement System now owns 69,702 shares of the company’s stock valued at $2,870,000 after acquiring an additional 656 shares during the last quarter. Institutional investors and hedge funds own 67.78% of the company’s stock.

Premier Company Profile (Get Rating)

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 document shredding.

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