Premier, Inc. (NASDAQ:PINC) Receives Average Rating of “Reduce” from Analysts

Premier, Inc. (NASDAQ:PINC) has been given an average rating of “Reduce” by the seven research firms that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating and six have given a hold rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $26.4583.

A number of research firms have recently commented on PINC. Weiss Ratings reissued a “hold (c-)” rating on shares of Premier in a research report on Wednesday, October 8th. UBS Group upped their target price on shares of Premier from $26.00 to $28.25 and gave the stock a “neutral” rating in a research note on Thursday, September 25th. Canaccord Genuity Group lifted their price target on Premier from $25.00 to $28.25 and gave the company a “hold” rating in a research note on Tuesday, September 23rd. Finally, Piper Sandler upped their price objective on Premier from $28.00 to $28.25 and gave the stock a “neutral” rating in a research report on Wednesday, November 5th.

Premier Stock Up 0.3%

PINC stock opened at $28.26 on Friday. The business has a fifty day moving average of $28.20 and a 200-day moving average of $25.65. The company has a market cap of $2.33 billion, a P/E ratio of -104.67 and a beta of 0.64. Premier has a twelve month low of $17.23 and a twelve month high of $28.79.

Premier (NASDAQ:PINC) last issued its earnings results on Tuesday, January 14th. The company reported $0.67 EPS for the quarter. The company had revenue of ($713.06) million during the quarter. Premier had a negative net margin of 3.28% and a positive return on equity of 6.84%. As a group, equities research analysts anticipate that Premier will post 1.13 earnings per share for the current fiscal year.

Institutional Trading of Premier

Institutional investors have recently made changes to their positions in the business. CIBC Bancorp USA Inc. bought a new position in shares of Premier in the 3rd quarter valued at about $244,000. Caxton Associates LLP bought a new position in Premier in the third quarter valued at approximately $2,520,000. XTX Topco Ltd grew its stake in Premier by 293.3% in the third quarter. XTX Topco Ltd now owns 46,762 shares of the company’s stock valued at $1,300,000 after purchasing an additional 34,871 shares in the last quarter. Water Island Capital LLC acquired a new position in shares of Premier during the 3rd quarter worth approximately $7,740,000. Finally, Prelude Capital Management LLC bought a new stake in shares of Premier during the 3rd quarter worth approximately $765,000. Institutional investors own 74.41% of the company’s stock.

About Premier

Premier, Inc (NASDAQ: PINC) is a leading healthcare improvement company that unites an alliance of approximately 4,300 hospitals and health systems and more than 175,000 other providers and organizations. The company leverages data-driven insights, supply chain expertise and collaborative networks to help member institutions enhance clinical outcomes, streamline operations and reduce costs. Premier’s integrated platform supports providers throughout the care continuum, enabling them to respond to shifting regulatory requirements, patient needs and financial pressures.

Central to Premier’s offerings is its comprehensive suite of supply chain solutions, which includes group purchasing, sourcing and logistics services designed to optimize procurement processes.