Premier (NASDAQ:PINC) Given New $26.00 Price Target at Leerink Partners

Premier (NASDAQ:PINC) had its target price boosted by Leerink Partners from $24.00 to $26.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The brokerage currently has a market perform rating on the stock.

PINC has been the subject of a number of other research reports. Robert W. Baird boosted their target price on Premier from $19.00 to $22.00 and gave the stock a “neutral” rating in a research report on Thursday, May 15th. Piper Sandler increased their price objective on shares of Premier from $19.00 to $24.00 and gave the company a “neutral” rating in a research report on Wednesday, May 21st. Finally, Canaccord Genuity Group lifted their target price on shares of Premier from $19.00 to $22.00 and gave the stock a “hold” rating in a research report on Thursday, May 8th. Seven analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Premier has a consensus rating of “Reduce” and an average target price of $22.57.

Premier Stock Up 7.3%

PINC stock opened at $26.21 on Tuesday. Premier has a twelve month low of $17.23 and a twelve month high of $27.26. The business has a 50 day moving average of $22.12 and a 200 day moving average of $20.80. The firm has a market cap of $2.16 billion, a PE ratio of 45.98 and a beta of 0.56.

Premier (NASDAQ:PINC) last posted its quarterly earnings results on Tuesday, August 19th. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.09. The firm had revenue of $262.86 million during the quarter, compared to analyst estimates of $247.10 million. Premier had a return on equity of 8.79% and a net margin of 5.68%.Premier’s quarterly revenue was down 12.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.69 EPS. Premier has set its FY 2026 guidance at 1.330-1.430 EPS. On average, research analysts expect that Premier will post 1.13 earnings per share for the current fiscal year.

Premier Dividend Announcement

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

Insider Buying and Selling at Premier

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

Hedge Funds Weigh In On Premier

Several large investors have recently added to or reduced their stakes in the company. CW Advisors LLC raised its position in shares of Premier by 1.8% during the 1st quarter. CW Advisors LLC now owns 26,166 shares of the company’s stock valued at $504,000 after purchasing an additional 454 shares during the period. First Horizon Advisors Inc. increased its stake 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 buying an additional 751 shares in the last quarter. Huntington National Bank raised its holdings in Premier by 24.4% during the second quarter. Huntington National Bank now owns 3,844 shares of the company’s stock valued at $84,000 after acquiring an additional 753 shares during the period. Russell Investments Group Ltd. raised its holdings in Premier by 3.2% during the second 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 position in shares of Premier by 72.2% in the second quarter. Signaturefd LLC now owns 2,197 shares of the company’s stock valued at $48,000 after acquiring an additional 921 shares in the last quarter. Hedge funds and other 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.