Premier (NASDAQ:PINC) Price Target Cut to $22.00 by Analysts at Robert W. Baird

Premier (NASDAQ:PINC) had its price objective reduced by investment analysts at Robert W. Baird from $25.00 to $22.00 in a report released on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the stock. Robert W. Baird’s price target would suggest a potential upside of 13.34% from the stock’s previous close.

Several other analysts also recently issued reports on PINC. Leerink Partnrs reissued a “market perform” rating on shares of Premier in a research note on Monday, February 26th. Canaccord Genuity Group restated a “hold” rating and issued a $21.00 target price (down previously from $27.00) on shares of Premier in a research note on Wednesday. Canaccord Genuity Group downgraded shares of Premier from a “buy” rating to a “hold” rating and lowered their price objective for the company from $27.00 to $21.00 in a report on Wednesday. SVB Leerink assumed coverage on shares of Premier in a research report on Monday, February 26th. They issued a “market perform” rating and a $22.50 price objective on the stock. Finally, StockNews.com downgraded shares of Premier from a “buy” rating to a “hold” rating in a research report on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $23.77.

Premier Stock Performance

Shares of PINC stock opened at $19.41 on Wednesday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.32 and a current ratio of 1.43. Premier has a 52 week low of $18.89 and a 52 week high of $28.30. The company’s 50 day moving average price is $21.15 and its two-hundred day moving average price is $21.22. The company has a market capitalization of $2.33 billion, a P/E ratio of 13.96, a price-to-earnings-growth ratio of 5.22 and a beta of 0.39.

Premier (NASDAQ:PINC) last issued its quarterly earnings data on Monday, February 5th. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.02. The business had revenue of $334.75 million for the quarter, compared to analyst estimates of $338.55 million. Premier had a net margin of 12.71% and a return on equity of 11.60%. On average, analysts expect that Premier will post 1.95 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Premier

A number of hedge funds and other institutional investors have recently bought and sold shares of PINC. Bank of New York Mellon Corp raised its stake in Premier by 61.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,240,873 shares of the company’s stock valued at $26,679,000 after acquiring an additional 471,683 shares during the period. New York State Teachers Retirement System bought a new position in Premier in the 3rd quarter valued at about $630,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Premier by 13.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,757 shares of the company’s stock valued at $554,000 after acquiring an additional 3,054 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in Premier by 189.9% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 74,756 shares of the company’s stock worth $1,607,000 after acquiring an additional 48,966 shares during the last quarter. Finally, Inspire Investing LLC boosted its holdings in shares of Premier by 26.0% during the third quarter. Inspire Investing LLC now owns 14,240 shares of the company’s stock worth $306,000 after acquiring an additional 2,934 shares during the period. 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.