Several other equities analysts have also commented on the stock. Canaccord Genuity Group reduced their target price on shares of Premier from $47.00 to $44.00 and set a “buy” rating on the stock in a report on Wednesday, May 4th. SVB Leerink reiterated an “outperform” rating on shares of Premier in a research report on Tuesday, May 3rd. Piper Sandler upgraded shares of Premier from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $39.00 to $45.00 in a research report on Wednesday, May 4th. Finally, Guggenheim started coverage on Premier in a research note on Wednesday, April 13th. They issued a “neutral” rating on the stock. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $41.83.
Premier Stock Up 2.0 %
Shares of NASDAQ PINC opened at $38.23 on Friday. The business has a 50-day simple moving average of $36.84 and a two-hundred day simple moving average of $36.72. The company has a quick ratio of 0.72, a current ratio of 0.88 and a debt-to-equity ratio of 0.10. Premier has a 52 week low of $33.26 and a 52 week high of $42.15. The company has a market cap of $4.51 billion, a P/E ratio of 16.55, a P/E/G ratio of 1.62 and a beta of 0.32.
Institutional Trading of Premier
A number of hedge funds and other institutional investors have recently modified their holdings of PINC. Acadian Asset Management LLC purchased a new position in shares of Premier during the 4th quarter valued at $42,000. Parallel Advisors LLC raised its holdings in Premier by 37.0% during the second quarter. Parallel Advisors LLC now owns 1,185 shares of the company’s stock valued at $42,000 after acquiring an additional 320 shares during the period. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Premier in the second quarter valued at about $44,000. EverSource Wealth Advisors LLC bought a new position in shares of Premier in the second quarter worth about $53,000. Finally, Quadrant Capital Group LLC grew its position in shares of Premier by 124.3% during the fourth quarter. Quadrant Capital Group LLC now owns 1,559 shares of the company’s stock worth $64,000 after purchasing an additional 864 shares in the last quarter. 67.78% of the stock is owned by hedge funds and other institutional investors.
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 document shredding.
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