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

Premier (NASDAQ:PINC) had its target price reduced by Piper Sandler from $24.00 to $22.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Piper Sandler’s target price would indicate a potential upside of 11.34% from the stock’s current price.

Several other research firms have also recently commented on PINC. SVB Leerink began coverage on Premier in a research note on Monday, February 26th. They issued a “market perform” rating and a $22.50 target price for the company. Canaccord Genuity Group lowered Premier from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $27.00 to $21.00 in a research report on Wednesday. Leerink Partnrs restated a “market perform” rating on shares of Premier in a research report on Monday, February 26th. StockNews.com cut shares of Premier from a “buy” rating to a “hold” rating in a research report on Wednesday, February 7th. Finally, Robert W. Baird dropped their price target on shares of Premier from $25.00 to $22.00 and set a “neutral” rating for the company in a research note on Wednesday. One analyst has rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $23.50.

Premier Trading Up 0.8 %

PINC opened at $19.76 on Wednesday. Premier has a 1-year low of $18.65 and a 1-year high of $28.30. The stock has a market capitalization of $2.37 billion, a PE ratio of 14.22, a PEG ratio of 5.22 and a beta of 0.39. The company has a current ratio of 1.43, a quick ratio of 1.32 and a debt-to-equity ratio of 0.02. The firm has a 50-day moving average price of $21.10 and a two-hundred day moving average price of $21.20.

Premier (NASDAQ:PINC) last released its quarterly earnings results on Monday, February 5th. The company reported $0.54 EPS for the quarter, beating 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 business had revenue of $334.75 million for the quarter, compared to analysts’ expectations of $338.55 million. As a group, equities analysts anticipate that Premier will post 1.95 earnings per share for the current fiscal year.

Institutional Trading of Premier

A number of large investors have recently made changes to their positions in PINC. Vanguard Group Inc. grew its stake in Premier by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 14,213,088 shares of the company’s stock valued at $317,805,000 after acquiring an additional 199,702 shares during the period. Pacer Advisors Inc. lifted its holdings in shares of Premier by 65.8% during the 4th quarter. Pacer Advisors Inc. now owns 5,609,924 shares of the company’s stock valued at $125,438,000 after purchasing an additional 2,225,828 shares in the last quarter. Norges Bank acquired a new position in shares of Premier in the 4th quarter valued at approximately $51,271,000. Goldman Sachs Group Inc. increased its stake in 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, AQR Capital Management LLC raised its holdings in Premier by 56.3% during the 3rd quarter. AQR Capital Management LLC now owns 1,479,593 shares of the company’s stock worth $31,811,000 after buying an additional 532,918 shares during the period. Institutional investors own 74.41% of the company’s stock.

Premier Company Profile

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.