Premier (NASDAQ:PINC) was downgraded by stock analysts at Robert W. Baird from an “outperform” rating to a “neutral” rating in a research note issued on Monday, MarketBeat Ratings reports. They presently have a $41.00 target price on the stock. Robert W. Baird’s price target points to a potential upside of 13.38% from the company’s current price.
Several other analysts have also weighed in on the company. Canaccord Genuity raised Premier from a “hold” rating to a “buy” rating and set a $36.00 price objective for the company in a report on Tuesday, October 15th. Credit Suisse Group reissued a “neutral” rating and issued a $42.00 price objective (down from $43.00) on shares of Premier in a report on Tuesday, August 13th. Evercore ISI reissued a “hold” rating on shares of Premier in a report on Monday. Zacks Investment Research lowered Premier from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. Finally, ValuEngine raised Premier from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Eleven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $40.00.
Shares of Premier stock opened at $36.16 on Monday. The firm has a market cap of $4.65 billion, a P/E ratio of 15.93, a P/E/G ratio of 1.49 and a beta of 0.34. Premier has a fifty-two week low of $27.37 and a fifty-two week high of $42.00. The business has a 50-day moving average price of $32.34 and a 200 day moving average price of $36.22.
In other Premier news, SVP David Alfred Hargraves sold 2,015 shares of Premier stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $35.05, for a total value of $70,625.75. Following the completion of the transaction, the senior vice president now directly owns 22,106 shares in the company, valued at $774,815.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director William E. Mayer sold 4,000 shares of Premier stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $37.45, for a total value of $149,800.00. Following the completion of the transaction, the director now owns 13,763 shares of the company’s stock, valued at $515,424.35. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,315 shares of company stock valued at $416,586. 17.67% of the stock is currently owned by insiders.
A number of hedge funds have recently modified their holdings of PINC. Mackenzie Financial Corp boosted its stake in Premier by 141.6% in the second quarter. Mackenzie Financial Corp now owns 1,716,406 shares of the company’s stock valued at $67,129,000 after acquiring an additional 1,005,871 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of Premier by 19.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 6,056,294 shares of the company’s stock worth $175,148,000 after buying an additional 979,096 shares during the period. Nuveen Asset Management LLC acquired a new position in shares of Premier during the second quarter worth approximately $23,463,000. Wells Fargo & Company MN boosted its position in shares of Premier by 385.3% during the second quarter. Wells Fargo & Company MN now owns 702,320 shares of the company’s stock worth $27,468,000 after buying an additional 557,604 shares during the period. Finally, Renaissance Technologies LLC boosted its position in shares of Premier by 20.8% during the second quarter. Renaissance Technologies LLC now owns 3,166,309 shares of the company’s stock worth $123,834,000 after buying an additional 546,200 shares during the period. Institutional investors own 50.48% of the company’s stock.
Premier, Inc, together with its subsidiaries, operates as a healthcare improvement company in the United States. The company operates through two segments, Supply Chain Services and Performance Services. The Supply Chain Services segment offers its members with 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 document shredding services and software-as-a-service informatics products.
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