Premier (NASDAQ:PINC) PT Lowered to $19.00

Premier (NASDAQ:PINC) had its price target decreased by equities research analysts at Canaccord Genuity Group from $20.00 to $19.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has a “hold” rating on the stock. Canaccord Genuity Group’s target price points to a potential downside of 0.52% from the stock’s current price.

A number of other research analysts have also weighed in on the stock. JPMorgan Chase & Co. decreased their price target on shares of Premier from $21.00 to $19.00 and set a “neutral” rating on the stock in a research note on Monday, September 9th. Robert W. Baird lowered their price target on Premier from $22.00 to $19.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 21st. StockNews.com downgraded Premier from a “buy” rating to a “hold” rating in a research note on Thursday, September 12th. Finally, Benchmark cut shares of Premier from a “buy” rating to a “hold” rating in a research note on Monday, August 26th. Ten research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $21.81.

Premier Trading Down 1.5 %

Shares of PINC stock opened at $19.10 on Wednesday. Premier has a 12-month low of $17.95 and a 12-month high of $23.01. The business’s 50 day moving average is $20.13 and its two-hundred day moving average is $19.94. The company has a market capitalization of $1.91 billion, a P/E ratio of 29.84, a P/E/G ratio of 9.42 and a beta of 0.40.

Premier (NASDAQ:PINC) last released its quarterly earnings results on Tuesday, August 20th. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.25. The firm had revenue of $350.30 million for the quarter, compared to analysts’ expectations of $308.88 million. Premier had a net margin of 8.88% and a return on equity of 11.69%. The firm’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.70 EPS. On average, research analysts predict that Premier will post 1.04 earnings per share for the current fiscal year.

Insider Activity at Premier

In other Premier news, CEO Michael J. Alkire sold 1,264 shares of the business’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $20.01, for a total value of $25,292.64. Following the transaction, the chief executive officer now directly owns 558,143 shares in the company, valued at approximately $11,168,441.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Michael J. Alkire sold 2,625 shares of the firm’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $20.00, for a total transaction of $52,500.00. Following the completion of the sale, the chief executive officer now directly owns 580,073 shares of the company’s stock, valued at approximately $11,601,460. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael J. Alkire sold 1,264 shares of the company’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $20.01, for a total transaction of $25,292.64. Following the completion of the transaction, the chief executive officer now directly owns 558,143 shares in the company, valued at approximately $11,168,441.43. The disclosure for this sale can be found here. Over the last quarter, insiders sold 186,312 shares of company stock valued at $3,779,250. 0.85% of the stock is owned by company insiders.

Institutional Investors Weigh In On Premier

A number of institutional investors have recently made changes to their positions in the stock. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in Premier in the 1st quarter valued at approximately $27,000. Versant Capital Management Inc grew its stake in shares of Premier by 265.2% in the second quarter. Versant Capital Management Inc now owns 2,140 shares of the company’s stock valued at $40,000 after buying an additional 1,554 shares in the last quarter. Abich Financial Wealth Management LLC raised its holdings in shares of Premier by 50.0% in the 1st quarter. Abich Financial Wealth Management LLC now owns 1,951 shares of the company’s stock valued at $43,000 after buying an additional 650 shares during the period. Parallel Advisors LLC lifted its stake in Premier by 141.2% during the 4th quarter. Parallel Advisors LLC now owns 1,980 shares of the company’s stock worth $44,000 after acquiring an additional 1,159 shares in the last quarter. Finally, Meeder Asset Management Inc. purchased a new position in Premier during the 2nd quarter valued at about $47,000. 74.41% of the stock is currently owned by institutional investors and hedge funds.

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.