Premier (NASDAQ:PINC) Stock Rating Lowered by Canaccord Genuity Group

Premier (NASDAQ:PINC) was downgraded by stock analysts at Canaccord Genuity Group from a “buy” rating to a “hold” rating in a research note issued on Wednesday, MarketBeat Ratings reports. They currently have a $21.00 price objective on the stock, down from their previous price objective of $27.00. Canaccord Genuity Group’s price target suggests a potential upside of 6.28% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on the company. StockNews.com downgraded Premier from a “buy” rating to a “hold” rating in a report on Wednesday, February 7th. Leerink Partnrs reiterated a “market perform” rating on shares of Premier in a research report on Monday, February 26th. Finally, SVB Leerink assumed coverage on shares of Premier in a report on Monday, February 26th. They issued a “market perform” rating and a $22.50 target price for the company. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $23.50.

Premier Trading Up 0.8 %

Shares of Premier stock opened at $19.76 on Wednesday. The company has a quick ratio of 1.32, a current ratio of 1.43 and a debt-to-equity ratio of 0.02. Premier has a 12-month low of $18.65 and a 12-month high of $28.30. The company has a market capitalization of $2.37 billion, a price-to-earnings ratio of 14.22, a PEG ratio of 5.22 and a beta of 0.39. The firm’s 50-day moving average price is $21.10 and its two-hundred day moving average price is $21.20.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Global Retirement Partners LLC boosted its stake in shares of Premier by 153.3% in the 4th quarter. Global Retirement Partners LLC now owns 1,583 shares of the company’s stock worth $35,000 after buying an additional 958 shares during the last quarter. Hexagon Capital Partners LLC boosted its position in Premier by 71.7% in the fourth quarter. Hexagon Capital Partners LLC now owns 1,660 shares of the company’s stock worth $37,000 after purchasing an additional 693 shares during the last quarter. Parallel Advisors LLC grew its stake in Premier by 141.2% in the 4th quarter. Parallel Advisors LLC now owns 1,980 shares of the company’s stock valued at $44,000 after purchasing an additional 1,159 shares during the period. Mitsubishi UFJ Trust & Banking Corp increased its position in shares of Premier by 53.0% during the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,138 shares of the company’s stock valued at $46,000 after purchasing an additional 741 shares during the last quarter. Finally, Janiczek Wealth Management LLC raised its stake in shares of Premier by 246.5% during the 4th quarter. Janiczek Wealth Management LLC now owns 2,533 shares of the company’s stock worth $57,000 after purchasing an additional 1,802 shares during the period. 74.41% of the stock is currently owned by hedge funds and other institutional investors.

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.