Piper Sandler Lowers Premier (NASDAQ:PINC) Price Target to $19.00

Premier (NASDAQ:PINC - Get Free Report) had its price objective cut by equities researchers at Piper Sandler from $21.00 to $19.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a "neutral" rating on the stock. Piper Sandler's price target would suggest a potential upside of 1.28% from the stock's previous close.

Several other equities analysts have also commented on the stock. StockNews.com lowered shares of Premier from a "buy" rating to a "hold" rating in a research report on Tuesday, November 5th. Robert W. Baird dropped their price target on shares of Premier from $20.00 to $19.00 and set a "neutral" rating on the stock in a research note on Wednesday. Barclays lifted their price target on Premier from $20.00 to $24.00 and gave the company an "equal weight" rating in a report on Wednesday, November 6th. Finally, Canaccord Genuity Group decreased their price objective on Premier from $21.00 to $19.00 and set a "hold" rating for the company in a report on Wednesday. Ten analysts have rated the stock with a hold rating, According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $20.50.

Premier Price Performance

PINC traded down $0.19 during trading on Wednesday, reaching $18.76. 1,808,690 shares of the company were exchanged, compared to its average volume of 1,281,494. Premier has a 52 week low of $17.95 and a 52 week high of $23.56. The firm has a 50 day moving average of $21.60 and a 200 day moving average of $20.93.

Insider Buying and Selling

In other news, CEO Michael J. Alkire sold 17,415 shares of the firm's stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $23.16, for a total transaction of $403,331.40. Following the completion of the transaction, the chief executive officer now owns 520,728 shares in the company, valued at approximately $12,060,060.48. This trade represents a 3.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Helen M. Boudreau sold 2,500 shares of the business's stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $21.42, for a total transaction of $53,550.00. Following the completion of the sale, the director now owns 20,668 shares in the company, valued at $442,708.56. The trade was a 10.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 59,425 shares of company stock valued at $1,320,242 over the last three months. Company insiders own 0.96% of the company's stock.

Hedge Funds Weigh In On Premier

A number of hedge funds have recently modified their holdings of PINC. Brooklyn Investment Group boosted its position in shares of Premier by 61,750.0% in the 4th quarter. Brooklyn Investment Group now owns 1,237 shares of the company's stock valued at $26,000 after purchasing an additional 1,235 shares during the period. GAMMA Investing LLC lifted its stake in Premier by 137.6% during 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 in the last quarter. SRS Capital Advisors Inc. boosted its holdings in shares of Premier by 157.8% in 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 period. Keystone Financial Group Inc. purchased a new position in shares of Premier in the fourth quarter worth approximately $37,000. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of Premier during the third quarter valued at approximately $39,000. 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.