Bank of America Issues Positive Forecast for Premier (NASDAQ:PINC) Stock Price

Premier (NASDAQ:PINC) had its target price hoisted by Bank of America from $19.00 to $21.00 in a research note published on Tuesday morning,Benzinga reports. They currently have an underperform rating on the stock.

A number of other research firms also recently issued reports on PINC. Robert W. Baird lifted their price target on Premier from $19.00 to $22.00 and gave the company a “neutral” rating in a research note on Thursday, May 15th. Canaccord Genuity Group raised their target price on Premier from $19.00 to $22.00 and gave the company a “hold” rating in a report on Thursday, May 8th. Piper Sandler lifted their target price on Premier from $19.00 to $24.00 and gave the company a “neutral” rating in a research report on Wednesday, May 21st. Finally, Leerink Partners upped their price target on Premier from $24.00 to $26.00 and gave the stock a “market perform” rating in a report on Tuesday. Seven research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Premier currently has a consensus rating of “Reduce” and a consensus target price of $22.57.

Premier Trading Up 7.3%

NASDAQ PINC opened at $26.21 on Tuesday. The company has a market cap of $2.16 billion, a P/E ratio of 45.98 and a beta of 0.56. The company has a fifty day simple moving average of $22.12 and a 200 day simple moving average of $20.80. Premier has a 12-month low of $17.23 and a 12-month high of $27.26.

Premier (NASDAQ:PINC) last released its quarterly earnings data on Tuesday, August 19th. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.09. The firm had revenue of $262.86 million for the quarter, compared to analyst estimates of $247.10 million. Premier had a net margin of 5.68% and a return on equity of 8.79%. The business’s quarterly revenue was down 12.5% compared to the same quarter last year. During the same period last year, the firm earned $0.69 earnings per share. Premier has set its FY 2026 guidance at 1.330-1.430 EPS. Sell-side analysts predict that Premier will post 1.13 EPS for the current year.

Premier Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 1st will be given a dividend of $0.21 per share. The ex-dividend date is Friday, August 29th. This represents a $0.84 annualized dividend and a yield of 3.2%. Premier’s dividend payout ratio is presently 147.37%.

Insider Transactions at Premier

In other news, Director Helen M. Boudreau sold 2,000 shares of the stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $22.88, for a total transaction of $45,760.00. Following the completion of the transaction, the director directly owned 18,668 shares of the company’s stock, valued at $427,123.84. This represents a 9.68% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John T. Bigalke sold 1,137 shares of Premier stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $23.03, for a total transaction of $26,185.11. Following the completion of the sale, the director directly owned 28,673 shares in the company, valued at $660,339.19. This trade represents a 3.81% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.96% of the company’s stock.

Institutional Trading of Premier

A number of large investors have recently bought and sold shares of the company. CW Advisors LLC raised its stake in shares of Premier by 1.8% in the first quarter. CW Advisors LLC now owns 26,166 shares of the company’s stock valued at $504,000 after buying an additional 454 shares during the period. First Horizon Advisors Inc. increased its holdings in Premier by 198.2% in the 2nd quarter. First Horizon Advisors Inc. now owns 1,130 shares of the company’s stock worth $25,000 after acquiring an additional 751 shares during the last quarter. Huntington National Bank increased its holdings in Premier by 24.4% in the 2nd quarter. Huntington National Bank now owns 3,844 shares of the company’s stock worth $84,000 after acquiring an additional 753 shares during the last quarter. Russell Investments Group Ltd. raised its stake in Premier by 3.2% in the 2nd quarter. Russell Investments Group Ltd. now owns 27,868 shares of the company’s stock valued at $611,000 after acquiring an additional 852 shares during the period. Finally, Signaturefd LLC lifted its holdings in Premier by 72.2% during the second quarter. Signaturefd LLC now owns 2,197 shares of the company’s stock valued at $48,000 after purchasing an additional 921 shares during the last quarter. 74.41% of the stock is 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.