Premier (NASDAQ:PINC) Price Target Raised to $22.00 at Canaccord Genuity Group

Premier (NASDAQ:PINC) had its price target increased by investment analysts at Canaccord Genuity Group from $19.00 to $22.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. Canaccord Genuity Group’s price target would indicate a potential downside of 4.64% from the stock’s current price.

PINC has been the subject of a number of other reports. Piper Sandler dropped their target price on shares of Premier from $21.00 to $19.00 and set a “neutral” rating for the company in a report on Wednesday, February 5th. Robert W. Baird lowered their price target on Premier from $20.00 to $19.00 and set a “neutral” rating on the stock in a report on Wednesday, February 5th. Seven analysts have rated the stock with a hold rating, According to MarketBeat.com, Premier presently has an average rating of “Hold” and a consensus target price of $20.60.

Premier Stock Down 1.0 %

NASDAQ:PINC opened at $23.07 on Thursday. The firm’s fifty day simple moving average is $19.51 and its 200-day simple moving average is $20.54. The stock has a market cap of $2.11 billion, a PE ratio of -230.68 and a beta of 0.54. Premier has a fifty-two week low of $17.23 and a fifty-two week high of $23.56.

Insider Buying and Selling

In other Premier news, General Counsel David L. Klatsky sold 10,982 shares of the firm’s stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $22.74, for a total transaction of $249,730.68. Following the completion of the transaction, the general counsel now owns 76,093 shares of the company’s stock, valued at approximately $1,730,354.82. This trade represents a 12.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders sold 22,119 shares of company stock worth $464,974 in the last ninety days. Insiders own 0.96% of the company’s stock.

Institutional Trading of Premier

A number of large investors have recently made changes to their positions in PINC. Charles Schwab Investment Management Inc. lifted its holdings in Premier by 4.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,897,424 shares of the company’s stock valued at $36,582,000 after purchasing an additional 84,016 shares in the last quarter. New Age Alpha Advisors LLC raised its position in shares of Premier by 5,893.3% in the first quarter. New Age Alpha Advisors LLC now owns 231,523 shares of the company’s stock valued at $4,464,000 after buying an additional 227,660 shares during the last quarter. LSV Asset Management lifted its stake in shares of Premier by 9.2% during the first quarter. LSV Asset Management now owns 1,392,700 shares of the company’s stock valued at $26,851,000 after buying an additional 117,398 shares during the period. Jefferies Financial Group Inc. acquired a new stake in Premier during the first quarter worth approximately $857,000. Finally, Vestcor Inc purchased a new stake in Premier in the 1st quarter worth approximately $125,000. Institutional investors and hedge funds 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.