Weiss Ratings Reiterates “Hold (C-)” Rating for Premier (NASDAQ:PINC)

Premier (NASDAQ:PINC)‘s stock had its “hold (c-)” rating reaffirmed by stock analysts at Weiss Ratings in a research note issued to investors on Saturday,Weiss Ratings reports.

Other research analysts have also issued reports about the stock. 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 report on Thursday, September 25th. Piper Sandler upped their price objective on shares of Premier from $24.00 to $28.00 and gave the company a “neutral” rating in a research note on Monday, August 25th. Canaccord Genuity Group upped their price objective on shares of Premier from $25.00 to $28.25 and gave the company a “hold” rating in a research note on Tuesday, September 23rd. Bank of America lifted their price target on shares of Premier from $19.00 to $21.00 and gave the company an “underperform” rating in a report on Tuesday, August 19th. Finally, Robert W. Baird lifted their price target on shares of Premier from $22.00 to $27.00 and gave the company a “neutral” rating in a report on Wednesday, August 20th. Seven equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Premier currently has an average rating of “Reduce” and a consensus target price of $26.07.

Premier Stock Performance

Shares of NASDAQ:PINC opened at $28.12 on Friday. The company has a 50-day simple moving average of $27.02 and a 200-day simple moving average of $23.61. Premier has a one year low of $17.23 and a one year high of $28.79. The stock has a market capitalization of $2.32 billion, a price-to-earnings ratio of 127.82 and a beta of 0.64.

Premier (NASDAQ:PINC) last posted its quarterly earnings results on Tuesday, January 14th. The company reported $0.67 earnings per share (EPS) for the quarter. The firm had revenue of ($713.06) million during the quarter. Premier had a net margin of 2.00% and a return on equity of 7.04%. As a group, research analysts forecast that Premier will post 1.13 EPS for the current fiscal year.

Insiders Place Their Bets

In other Premier news, insider Andy Brailo sold 6,521 shares of the firm’s stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $25.79, for a total transaction of $168,176.59. Following the completion of the transaction, the insider directly owned 99,447 shares of the company’s stock, valued at $2,564,738.13. This trade represents a 6.15% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel David L. Klatsky sold 3,349 shares of Premier stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $25.57, for a total transaction of $85,633.93. Following the completion of the transaction, the general counsel directly owned 97,257 shares of the company’s stock, valued at $2,486,861.49. This trade represents a 3.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 12,326 shares of company stock valued at $317,230 in the last ninety days. Corporate insiders own 0.96% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of PINC. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Premier by 26.8% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 403,820 shares of the company’s stock valued at $7,786,000 after buying an additional 85,234 shares during the period. Teacher Retirement System of Texas grew its stake in shares of Premier by 137.3% in the 1st quarter. Teacher Retirement System of Texas now owns 28,570 shares of the company’s stock worth $551,000 after purchasing an additional 16,531 shares during the last quarter. Envestnet Asset Management Inc. acquired a new position in shares of Premier in the 1st quarter worth approximately $914,000. Crossmark Global Holdings Inc. increased its position in shares of Premier by 88.1% in the first quarter. Crossmark Global Holdings Inc. now owns 170,723 shares of the company’s stock worth $3,292,000 after acquiring an additional 79,971 shares in the last quarter. Finally, Alps Advisors Inc. increased its position in shares of Premier by 7.8% in the first quarter. Alps Advisors Inc. now owns 921,163 shares of the company’s stock worth $17,760,000 after acquiring an additional 66,391 shares in the last quarter. 74.41% of the stock is owned by institutional investors and hedge funds.

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.