SG Americas Securities LLC Acquires 42,459 Shares of Premier, Inc. (NASDAQ:PINC)

SG Americas Securities LLC lifted its holdings in shares of Premier, Inc. (NASDAQ:PINCGet Rating) by 262.4% during the 1st quarter, Holdings Channel reports. The firm owned 58,641 shares of the company’s stock after purchasing an additional 42,459 shares during the quarter. SG Americas Securities LLC’s holdings in Premier were worth $2,087,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in PINC. Strs Ohio bought a new stake in shares of Premier during the 4th quarter valued at about $2,870,000. National Bank of Canada FI acquired a new position in Premier during the 4th quarter worth approximately $3,981,000. Janney Montgomery Scott LLC acquired a new position in Premier during the 4th quarter worth approximately $340,000. Reinhart Partners Inc. raised its stake in Premier by 0.7% during the 4th quarter. Reinhart Partners Inc. now owns 1,134,789 shares of the company’s stock worth $46,719,000 after buying an additional 8,080 shares during the period. Finally, Bessemer Group Inc. raised its stake in Premier by 58.3% during the 4th quarter. Bessemer Group Inc. now owns 9,507 shares of the company’s stock worth $391,000 after buying an additional 3,500 shares during the period. Institutional investors own 67.78% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Canaccord Genuity Group dropped their price target on Premier from $47.00 to $44.00 and set a “buy” rating on the stock in a research note on Wednesday, May 4th. Guggenheim began coverage on Premier in a research note on Wednesday, April 13th. They issued a “neutral” rating for the company. SVB Leerink reissued an “outperform” rating on shares of Premier in a research note on Tuesday, May 3rd. Credit Suisse Group began coverage on Premier in a research note on Friday, April 1st. They issued an “underperform” rating and a $35.00 price objective for the company. Finally, Piper Sandler raised Premier from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $39.00 to $45.00 in a research note on Wednesday, May 4th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Premier presently has a consensus rating of “Moderate Buy” and an average target price of $41.83.

Premier Stock Performance

Shares of PINC opened at $37.47 on Monday. The company has a current ratio of 0.88, a quick ratio of 0.72 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $4.42 billion, a price-to-earnings ratio of 16.22, a PEG ratio of 1.59 and a beta of 0.29. The stock has a 50 day moving average of $36.72 and a 200 day moving average of $36.80. Premier, Inc. has a 12 month low of $33.26 and a 12 month high of $42.15.

Premier (NASDAQ:PINCGet Rating) last issued its quarterly earnings results on Tuesday, May 3rd. The company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.05). The business had revenue of $347.84 million for the quarter, compared to analysts’ expectations of $340.10 million. Premier had a net margin of 18.14% and a return on equity of 12.13%. The business’s revenue was down 26.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.55 earnings per share. As a group, sell-side analysts forecast that Premier, Inc. will post 2.2 earnings per share for the current year.

Premier Profile

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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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Institutional Ownership by Quarter for Premier (NASDAQ:PINC)

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