Premier (NASDAQ:PINC - Get Free Report) had its price target decreased by Canaccord Genuity Group from $21.00 to $19.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a "hold" rating on the stock. Canaccord Genuity Group's target price suggests a potential upside of 1.28% from the company's previous close.
PINC has been the topic of several other reports. Barclays upped their target price on Premier from $20.00 to $24.00 and gave the stock an "equal weight" rating in a research report on Wednesday, November 6th. StockNews.com lowered Premier from a "buy" rating to a "hold" rating in a report on Tuesday, November 5th. Finally, Robert W. Baird boosted their price objective on shares of Premier from $19.00 to $20.00 and gave the stock a "neutral" rating in a report on Wednesday, November 6th. Ten research analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $20.50.
View Our Latest Stock Analysis on PINC
Premier Stock Down 1.0 %
Shares of Premier stock traded down $0.19 on Wednesday, hitting $18.76. 1,808,690 shares of the company's stock traded hands, compared to its average volume of 1,281,494. The firm's 50-day moving average is $21.60 and its 200 day moving average is $20.92. The stock has a market cap of $1.80 billion, a P/E ratio of -187.58 and a beta of 0.43. Premier has a 52-week low of $17.95 and a 52-week high of $23.56.
Premier (NASDAQ:PINC - Get Free Report) last released its quarterly earnings data on Tuesday, November 5th. The company reported $0.34 earnings per share for the quarter, topping analysts' consensus estimates of $0.25 by $0.09. Premier had a negative net margin of 0.40% and a positive return on equity of 9.41%. The business had revenue of $248.14 million for the quarter, compared to analysts' expectations of $232.85 million. During the same quarter last year, the company earned $0.50 EPS. The company's revenue for the quarter was down 7.8% compared to the same quarter last year. Equities research analysts forecast that Premier will post 1.12 EPS for the current year.
Insiders Place Their Bets
In related news, Director John T. Bigalke sold 1,136 shares of the stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $22.19, for a total transaction of $25,207.84. Following the sale, the director now directly owns 23,846 shares in the company, valued at $529,142.74. This represents a 4.55 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael J. Alkire sold 18,374 shares of the stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $21.80, for a total value of $400,553.20. Following the sale, the chief executive officer now owns 502,354 shares in the company, valued at $10,951,317.20. The trade was a 3.53 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 59,425 shares of company stock valued at $1,320,242. 0.96% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of the stock. Brooklyn Investment Group increased its position in Premier by 61,750.0% in the fourth quarter. Brooklyn Investment Group now owns 1,237 shares of the company's stock worth $26,000 after purchasing an additional 1,235 shares during the period. SRS Capital Advisors Inc. raised its stake in shares of Premier by 157.8% during the fourth quarter. SRS Capital Advisors Inc. now owns 1,284 shares of the company's stock worth $27,000 after buying an additional 786 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Premier by 137.6% in the third quarter. GAMMA Investing LLC now owns 1,347 shares of the company's stock valued at $27,000 after buying an additional 780 shares during the period. Keystone Financial Group Inc. bought a new position in Premier in the fourth quarter valued at approximately $37,000. Finally, Smartleaf Asset Management LLC grew its holdings in Premier by 297.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,906 shares of the company's stock worth $40,000 after acquiring an additional 1,427 shares during the period. Institutional investors own 74.41% of the company's stock.
About Premier
(
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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.
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