Premier (NASDAQ:PINC) Stock Price Expected to Rise, Piper Sandler Analyst Says

Premier (NASDAQ:PINC) had its price target raised by investment analysts at Piper Sandler from $19.00 to $24.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Piper Sandler’s price target indicates a potential upside of 3.45% from the company’s current price.

Other research analysts have also issued reports about the stock. Robert W. Baird boosted their price target on shares of Premier from $19.00 to $22.00 and gave the company a “neutral” rating in a research report on Thursday, May 15th. Canaccord Genuity Group boosted their price target on shares of Premier from $19.00 to $22.00 and gave the company a “hold” rating in a research report on Thursday, May 8th. Seven investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $22.20.

Premier Price Performance

PINC opened at $23.20 on Wednesday. The company has a fifty day moving average price of $20.39 and a 200-day moving average price of $20.72. The firm has a market capitalization of $1.91 billion, a P/E ratio of -231.98 and a beta of 0.54. Premier has a one year low of $17.23 and a one year high of $23.56.

Insider Buying and Selling

In related news, General Counsel David L. Klatsky sold 10,000 shares of the company’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $19.53, for a total value of $195,300.00. Following the completion of the transaction, the general counsel now directly owns 90,597 shares in the company, valued at approximately $1,769,359.41. The trade was a 9.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders sold 22,119 shares of company stock worth $464,974. Corporate insiders own 0.96% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PINC. SRS Capital Advisors Inc. boosted its position in Premier by 157.8% during the fourth quarter. SRS Capital Advisors Inc. now owns 1,284 shares of the company’s stock valued at $27,000 after buying an additional 786 shares during the period. Keystone Financial Group Inc. purchased a new stake in Premier during the fourth quarter valued at about $37,000. Smartleaf Asset Management LLC boosted its position in Premier by 297.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,906 shares of the company’s stock valued at $40,000 after buying an additional 1,427 shares during the period. Van ECK Associates Corp boosted its position in Premier by 28.0% during the fourth quarter. Van ECK Associates Corp now owns 2,041 shares of the company’s stock valued at $43,000 after buying an additional 446 shares during the period. Finally, Aster Capital Management DIFC Ltd purchased a new stake in Premier during the fourth quarter valued at about $52,000. 74.41% of the stock is currently owned by hedge funds and other institutional investors.

About Premier

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.