Premier, Inc. (NASDAQ:PINC) Receives Consensus Rating of “Reduce” from Brokerages

Premier, Inc. (NASDAQ:PINC) has received an average recommendation of “Reduce” from the seven ratings firms that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation and six have issued a hold recommendation on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $26.4583.

PINC has been the subject of a number of recent analyst reports. UBS Group lifted their target price on Premier from $26.00 to $28.25 and gave the company a “neutral” rating in a report on Thursday, September 25th. Canaccord Genuity Group boosted their price objective on shares of Premier from $25.00 to $28.25 and gave the company a “hold” rating in a research note on Tuesday, September 23rd. Piper Sandler increased their target price on shares of Premier from $28.00 to $28.25 and gave the stock a “neutral” rating in a research note on Wednesday, November 5th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Premier in a research report on Wednesday, October 8th.

Hedge Funds Weigh In On Premier

Institutional investors have recently added to or reduced their stakes in the business. First Horizon Advisors Inc. boosted its position in shares of Premier by 198.2% during the 2nd quarter. First Horizon Advisors Inc. now owns 1,130 shares of the company’s stock valued at $25,000 after acquiring an additional 751 shares during the last quarter. Quent Capital LLC purchased a new stake in Premier in the third quarter valued at approximately $36,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in Premier in the second quarter valued at approximately $32,000. Hantz Financial Services Inc. lifted its position in Premier by 247.9% during the third quarter. Hantz Financial Services Inc. now owns 1,722 shares of the company’s stock valued at $48,000 after purchasing an additional 1,227 shares during the last quarter. Finally, Signaturefd LLC grew its stake in Premier by 72.2% in the 2nd quarter. Signaturefd LLC now owns 2,197 shares of the company’s stock worth $48,000 after buying an additional 921 shares in the last quarter. 74.41% of the stock is currently owned by institutional investors.

Premier Trading Up 0.3%

Premier stock opened at $28.26 on Friday. The firm has a 50 day simple moving average of $28.16 and a 200 day simple moving average of $25.47. Premier has a 1-year low of $17.23 and a 1-year high of $28.79. The firm has a market capitalization of $2.33 billion, a price-to-earnings ratio of -104.67 and a beta of 0.64.

Premier (NASDAQ:PINC) last posted its quarterly earnings results on Tuesday, January 14th. The company reported $0.67 EPS for the quarter. The firm had revenue of ($713.06) million during the quarter. Premier had a positive return on equity of 6.84% and a negative net margin of 3.28%. On average, equities research analysts forecast that Premier will post 1.13 EPS for the current year.

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.