Premier (NASDAQ:PINC) Coverage Initiated at StockNews.com

Stock analysts at StockNews.com started coverage on shares of Premier (NASDAQ:PINC – Get Rating) in a research report issued on Thursday. The brokerage set a “buy” rating on the stock.

Other equities research analysts have also issued reports about the company. Benchmark dropped their price target on Premier from $46.00 to $37.00 in a research report on Wednesday, May 3rd. Robert W. Baird downgraded Premier from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $43.00 to $30.00 in a research note on Wednesday, May 3rd. SVB Leerink lowered their price target on shares of Premier from $46.00 to $42.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 8th. Barclays dropped their price objective on shares of Premier from $31.00 to $26.00 in a report on Wednesday, May 3rd. Finally, Raymond James downgraded shares of Premier from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 2nd. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $37.22.

Premier Stock Down 0.3 %

Shares of NASDAQ PINC opened at $26.90 on Thursday. The stock has a market cap of $3.20 billion, a PE ratio of 17.47, a P/E/G ratio of 1.17 and a beta of 0.28. The company has a current ratio of 0.72, a quick ratio of 0.62 and a debt-to-equity ratio of 0.05. Premier has a 12-month low of $25.91 and a 12-month high of $38.98. The company has a 50-day moving average of $30.95 and a 200 day moving average of $32.38.

Hedge Funds Weigh In On Premier

A number of hedge funds have recently made changes to their positions in PINC. Advisor Group Holdings Inc. raised its position in Premier by 25.0% in the first quarter. Advisor Group Holdings Inc. now owns 5,759 shares of the company’s stock valued at $204,000 after purchasing an additional 1,150 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Premier by 0.8% in the 1st quarter. Bank of New York Mellon Corp now owns 806,553 shares of the company’s stock valued at $28,705,000 after buying an additional 6,673 shares during the period. American Century Companies Inc. lifted its stake in Premier by 12.4% during the 1st quarter. American Century Companies Inc. now owns 15,900 shares of the company’s stock worth $566,000 after acquiring an additional 1,748 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in Premier by 3,921.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 6,715 shares of the company’s stock valued at $238,000 after acquiring an additional 6,548 shares during the period. Finally, Acadian Asset Management LLC grew its position in Premier by 1,174.7% in the 1st quarter. Acadian Asset Management LLC now owns 13,282 shares of the company’s stock valued at $472,000 after acquiring an additional 12,240 shares in the last quarter. Hedge funds and other institutional investors own 66.93% of the company’s stock.

Premier Company Profile

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Premier, Inc engages in the provision of healthcare improvement solutions. It operates through the Supply Chain Services and Performance Services segments. The Supply Chain Services segment includes healthcare group purchasing organization (GPO) programs in the United States, supply chain co-management, and direct sourcing activities.