Premier (NASDAQ:PINC) Stock Price Expected to Rise, UBS Group Analyst Says

Premier (NASDAQ:PINC) had its price objective lifted by UBS Group from $23.00 to $26.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have a neutral rating on the stock.

Several other research analysts have also issued reports on the company. Canaccord Genuity Group boosted their target price on Premier from $22.00 to $25.00 and gave the company a “hold” rating in a research report on Wednesday. Leerink Partners boosted their price target on Premier from $24.00 to $26.00 and gave the company a “market perform” rating in a report on Tuesday. Piper Sandler boosted their price target on Premier from $19.00 to $24.00 and gave the company a “neutral” rating in a report on Wednesday, May 21st. Robert W. Baird boosted their price target on Premier from $22.00 to $27.00 and gave the company a “neutral” rating in a report on Wednesday. Finally, Bank of America boosted their price target on Premier from $19.00 to $21.00 and gave the company an “underperform” rating in a report on Tuesday. Eight investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $24.00.

Premier Price Performance

Shares of NASDAQ:PINC opened at $25.14 on Wednesday. Premier has a 1 year low of $17.23 and a 1 year high of $27.26. The business has a 50 day simple moving average of $22.30 and a two-hundred day simple moving average of $20.90. The firm has a market capitalization of $2.07 billion, a PE ratio of 114.28 and a beta of 0.56.

Premier Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 1st will be paid a $0.21 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.84 dividend on an annualized basis and a yield of 3.3%. Premier’s payout ratio is 381.82%.

Insider Buying and Selling

In related news, Director Helen M. Boudreau sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $22.88, for a total value of $45,760.00. Following the completion of the transaction, the director owned 18,668 shares of the company’s stock, valued at $427,123.84. The trade was a 9.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John T. Bigalke sold 1,137 shares of the business’s stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $23.03, for a total transaction of $26,185.11. Following the completion of the transaction, the director directly owned 28,673 shares of the company’s stock, valued at $660,339.19. This trade represents a 3.81% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.96% of the company’s stock.

Hedge Funds Weigh In On Premier

A number of large investors have recently bought and sold shares of PINC. First Horizon Advisors Inc. increased its position in shares of Premier by 198.2% during the second quarter. First Horizon Advisors Inc. now owns 1,130 shares of the company’s stock worth $25,000 after purchasing an additional 751 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in shares of Premier during the second quarter worth $32,000. Signaturefd LLC increased its position in shares of Premier by 72.2% during the second quarter. Signaturefd LLC now owns 2,197 shares of the company’s stock worth $48,000 after purchasing an additional 921 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Premier by 112.1% during the second quarter. GAMMA Investing LLC now owns 2,522 shares of the company’s stock worth $55,000 after purchasing an additional 1,333 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its position in shares of Premier by 155.1% during the second quarter. Smartleaf Asset Management LLC now owns 2,541 shares of the company’s stock worth $55,000 after purchasing an additional 1,545 shares in the last quarter. Institutional investors 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.