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

Premier (NASDAQ:PINC) had its price objective lifted by equities researchers at Barclays from $20.00 to $24.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s price target indicates a potential upside of 3.99% from the company’s previous close.

Several other equities research analysts have also recently weighed in on PINC. JPMorgan Chase & Co. cut their target price on Premier from $21.00 to $19.00 and set a “neutral” rating for the company in a research note on Monday, September 9th. Benchmark cut Premier from a “buy” rating to a “hold” rating in a research note on Monday, August 26th. StockNews.com cut Premier from a “buy” rating to a “hold” rating in a research note on Tuesday. Robert W. Baird increased their price target on Premier from $19.00 to $20.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, Canaccord Genuity Group dropped their price target on Premier from $20.00 to $19.00 and set a “hold” rating for the company in a research note on Wednesday, October 2nd. Ten research analysts have rated the stock with a hold rating, According to MarketBeat.com, Premier presently has a consensus rating of “Hold” and an average price target of $22.44.

Premier Price Performance

NASDAQ PINC opened at $23.08 on Wednesday. The business has a fifty day moving average price of $20.08 and a two-hundred day moving average price of $19.72. Premier has a fifty-two week low of $17.95 and a fifty-two week high of $23.43. The stock has a market capitalization of $2.31 billion, a PE ratio of 22.41, a PEG ratio of 9.43 and a beta of 0.40.

Premier (NASDAQ:PINC) last released its earnings results on Tuesday, November 5th. The company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.09. Premier had a return on equity of 11.69% and a net margin of 8.88%. The firm had revenue of $248.14 million during the quarter, compared to analysts’ expectations of $232.85 million. During the same period in the prior year, the company earned $0.50 earnings per share. The company’s quarterly revenue was down 7.8% on a year-over-year basis. As a group, sell-side analysts expect that Premier will post 1.04 earnings per share for the current year.

Insider Buying and Selling

In related news, COO Leigh Anderson sold 20,000 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $19.62, for a total transaction of $392,400.00. Following the completion of the transaction, the chief operating officer now directly owns 131,707 shares of the company’s stock, valued at $2,584,091.34. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, COO Leigh Anderson sold 20,000 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $19.62, for a total transaction of $392,400.00. Following the completion of the transaction, the chief operating officer now directly owns 131,707 shares of the company’s stock, valued at $2,584,091.34. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Craig S. Mckasson sold 10,000 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $20.00, for a total value of $200,000.00. Following the transaction, the chief financial officer now directly owns 278,110 shares of the company’s stock, valued at approximately $5,562,200. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 135,441 shares of company stock valued at $2,738,548 in the last three months. 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 PINC. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Premier during the 1st quarter worth about $1,686,000. BNP Paribas Financial Markets grew its holdings in Premier by 4.5% during the 1st quarter. BNP Paribas Financial Markets now owns 59,778 shares of the company’s stock worth $1,321,000 after acquiring an additional 2,548 shares during the period. Nordea Investment Management AB grew its holdings in Premier by 10.5% during the 1st quarter. Nordea Investment Management AB now owns 215,636 shares of the company’s stock worth $4,742,000 after acquiring an additional 20,419 shares during the period. Central Pacific Bank Trust Division acquired a new stake in Premier during the 1st quarter worth about $124,000. Finally, Texas Permanent School Fund Corp grew its holdings in Premier by 1.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 104,863 shares of the company’s stock worth $2,317,000 after acquiring an additional 1,497 shares during the period. 74.41% of the stock is currently owned by institutional investors and hedge funds.

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.