Premier (NASDAQ:PINC) Given New $21.00 Price Target at Canaccord Genuity Group

Premier (NASDAQ:PINC) had its price target boosted by Canaccord Genuity Group from $19.00 to $21.00 in a research note released on Wednesday morning, Benzinga reports. Canaccord Genuity Group currently has a hold rating on the stock.

PINC has been the topic of a number of other reports. StockNews.com downgraded Premier from a “buy” rating to a “hold” rating in a report on Tuesday. Benchmark downgraded shares of Premier from a “buy” rating to a “hold” rating in a research note on Monday, August 26th. JPMorgan Chase & Co. cut their price target on shares of Premier from $21.00 to $19.00 and set a “neutral” rating for the company in a report on Monday, September 9th. Barclays upped their price objective on shares of Premier from $20.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Finally, Robert W. Baird lifted their target price on shares of Premier from $19.00 to $20.00 and gave the company a “neutral” rating in a research note on Wednesday. Ten analysts have rated the stock with a hold rating, According to MarketBeat, Premier has an average rating of “Hold” and a consensus price target of $22.44.

Premier Stock Up 3.0 %

Shares of PINC opened at $23.34 on Wednesday. The stock’s 50-day moving average price is $20.02 and its 200 day moving average price is $19.70. Premier has a 12-month low of $17.95 and a 12-month high of $23.43. The firm has a market capitalization of $2.34 billion, a price-to-earnings ratio of 22.66, a P/E/G ratio of 9.43 and a beta of 0.40.

Premier (NASDAQ:PINC) last issued its earnings results on Tuesday, August 20th. The company reported $0.69 EPS for the quarter, topping 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 firm had revenue of $350.30 million during the quarter, compared to analysts’ expectations of $308.88 million. During the same period last year, the business earned $0.70 earnings per share. Premier’s quarterly revenue was up 2.9% compared to the same quarter last year. Equities research analysts expect that Premier will post 1.04 EPS for the current year.

Premier Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 15th. Investors of record on Sunday, December 1st will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 3.60%. The ex-dividend date of this dividend is Friday, November 29th. Premier’s payout ratio is 81.55%.

Insider Buying and Selling at Premier

In related news, CFO Craig S. Mckasson sold 10,000 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $20.00, for a total transaction of $200,000.00. Following the sale, the chief financial officer now owns 278,110 shares of the company’s stock, valued at approximately $5,562,200. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, COO Leigh Anderson sold 20,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $19.62, for a total value of $392,400.00. Following the sale, the chief operating officer now owns 131,707 shares of the company’s stock, valued at $2,584,091.34. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Craig S. Mckasson sold 10,000 shares of Premier stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $20.00, for a total transaction of $200,000.00. Following the completion of the sale, the chief financial officer now owns 278,110 shares in the company, valued at $5,562,200. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 135,441 shares of company stock valued at $2,738,548. Corporate insiders own 0.96% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of PINC. Mitsubishi UFJ Trust & Banking Corp bought a new position in shares of Premier during the first quarter worth approximately $27,000. GAMMA Investing LLC increased its position in Premier by 137.6% during the 3rd 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 period. Versant Capital Management Inc boosted its position in shares of Premier by 265.2% in the second quarter. Versant Capital Management Inc now owns 2,140 shares of the company’s stock valued at $40,000 after acquiring an additional 1,554 shares during the period. Abich Financial Wealth Management LLC raised its stake in Premier by 50.0% in the 1st quarter. Abich Financial Wealth Management LLC now owns 1,951 shares of the company’s stock worth $43,000 after purchasing an additional 650 shares in the last quarter. Finally, Meeder Asset Management Inc. acquired a new stake in Premier during the second quarter worth approximately $47,000. 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.