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

Premier (NASDAQ:PINC) had its target price lifted by research analysts at Robert W. Baird from $19.00 to $20.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Robert W. Baird’s price objective indicates a potential downside of 11.78% from the company’s current price.

A number of other equities research analysts have also recently weighed in on the stock. Canaccord Genuity Group reduced their price target on shares of Premier from $20.00 to $19.00 and set a “hold” rating for the company in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. reduced their target price on shares of Premier from $21.00 to $19.00 and set a “neutral” rating for the company in a research note on Monday, September 9th. Benchmark lowered shares of Premier from a “buy” rating to a “hold” rating in a research report on Monday, August 26th. Finally, StockNews.com cut Premier from a “buy” rating to a “hold” rating in a report on Tuesday. Ten research analysts have rated the stock with a hold rating, Based on data from MarketBeat, Premier presently has an average rating of “Hold” and an average target price of $21.94.

Premier Trading Up 13.3 %

Shares of PINC opened at $22.67 on Wednesday. The company’s 50-day moving average price is $19.95 and its 200 day moving average price is $19.67. Premier has a 12-month low of $17.95 and a 12-month high of $23.01. The firm has a market cap of $2.27 billion, a P/E ratio of 22.01, a price-to-earnings-growth ratio of 9.56 and a beta of 0.40.

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

Insider Transactions at Premier

In other 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 sale, 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Premier news, COO Leigh Anderson sold 20,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $19.62, for a total transaction of $392,400.00. Following the sale, the chief operating officer now owns 131,707 shares in the company, valued at approximately $2,584,091.34. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael J. Alkire sold 17,900 shares of Premier stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $20.00, for a total transaction of $358,000.00. Following the completion of the transaction, the chief executive officer now directly owns 540,243 shares in the company, valued at approximately $10,804,860. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 135,441 shares of company stock valued at $2,738,548. Corporate insiders own 0.96% of the company’s stock.

Hedge Funds Weigh In On Premier

Several institutional investors and hedge funds have recently bought and sold shares of the business. Mitsubishi UFJ Trust & Banking Corp purchased a new position in shares of Premier during the 1st quarter valued at $27,000. GAMMA Investing LLC increased its position 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 during the last quarter. Versant Capital Management Inc boosted its stake in shares of Premier by 265.2% during the 2nd quarter. Versant Capital Management Inc now owns 2,140 shares of the company’s stock worth $40,000 after acquiring an additional 1,554 shares in the last quarter. Abich Financial Wealth Management LLC raised its stake 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 acquiring an additional 650 shares in the last quarter. Finally, Meeder Asset Management Inc. acquired a new position in Premier during the second quarter valued at approximately $47,000. Hedge funds and other 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.