Robert W. Baird Issues Positive Forecast for Premier (NASDAQ:PINC) Stock Price

Premier (NASDAQ:PINC) had its target price hoisted by research analysts at Robert W. Baird from $19.00 to $20.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Robert W. Baird’s target price suggests a potential downside of 11.78% from the stock’s previous close.

Other research analysts have also issued reports about the company. Canaccord Genuity Group decreased their price objective on Premier from $20.00 to $19.00 and set a “hold” rating on the stock in a research report on Wednesday, October 2nd. Benchmark lowered shares of Premier from a “buy” rating to a “hold” rating in a research note on Monday, August 26th. JPMorgan Chase & Co. cut their price objective on shares of Premier from $21.00 to $19.00 and set a “neutral” rating on the stock in a report on Monday, September 9th. Finally, StockNews.com lowered shares of Premier from a “buy” rating to a “hold” rating in a report on Tuesday. Ten analysts have rated the stock with a hold rating, According to MarketBeat, Premier presently has a consensus rating of “Hold” and an average target price of $21.94.

Premier Price Performance

Shares of Premier stock opened at $22.67 on Wednesday. The firm has a fifty day moving average price of $19.95 and a two-hundred day moving average price of $19.67. Premier has a fifty-two week low of $17.95 and a fifty-two week high of $23.01. The company has a market cap of $2.27 billion, a PE ratio of 22.01, a price-to-earnings-growth ratio of 9.56 and a beta of 0.40.

Premier (NASDAQ:PINC) last released its quarterly earnings data on Tuesday, August 20th. The company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.25. Premier had a return on equity of 11.69% and a net margin of 8.88%. The company had revenue of $350.30 million for the quarter, compared to the consensus estimate of $308.88 million. During the same period in the previous year, the business earned $0.70 earnings per share. The company’s quarterly revenue was up 2.9% on a year-over-year basis. Analysts expect that Premier will post 1.04 earnings per share for the current fiscal year.

Insider Activity at Premier

In related news, CEO Michael J. Alkire sold 19,362 shares of Premier stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $20.83, for a total value of $403,310.46. Following the sale, the chief executive officer now owns 578,143 shares of the company’s stock, valued at approximately $12,042,718.69. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Michael J. Alkire sold 19,362 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $20.83, for a total value of $403,310.46. Following the completion of the sale, the chief executive officer now directly owns 578,143 shares in the company, valued at approximately $12,042,718.69. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Andy Brailo sold 4,390 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $20.51, for a total value of $90,038.90. Following the transaction, the insider now directly owns 104,410 shares in the company, valued at $2,141,449.10. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 135,441 shares of company stock valued at $2,738,548. Corporate insiders own 0.96% of the company’s stock.

Institutional Trading of Premier

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Abich Financial Wealth Management LLC boosted its stake in shares of Premier by 50.0% in the first 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. Arizona State Retirement System raised its stake in Premier by 2.0% in the second quarter. Arizona State Retirement System now owns 33,542 shares of the company’s stock valued at $626,000 after purchasing an additional 653 shares in the last quarter. Comerica Bank lifted its position in Premier by 0.9% during the first quarter. Comerica Bank now owns 77,422 shares of the company’s stock worth $1,711,000 after purchasing an additional 728 shares during the period. GAMMA Investing LLC grew its stake in Premier by 137.6% during the third quarter. GAMMA Investing LLC now owns 1,347 shares of the company’s stock worth $27,000 after buying an additional 780 shares in the last quarter. Finally, Impact Partnership Wealth LLC increased its holdings in Premier by 7.1% in the 3rd quarter. Impact Partnership Wealth LLC now owns 11,945 shares of the company’s stock valued at $239,000 after buying an additional 795 shares during the period. Institutional investors own 74.41% of the company’s stock.

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.