Piper Sandler Forecasts Strong Price Appreciation for Premier (NASDAQ:PINC) Stock

Key Points

• Piper Sandler has raised its price target for Premier (NASDAQ:PINC) from $24.00 to $28.00, indicating a potential upside of 9.61% from the current stock price.
• Many analysts have issued ratings and price target adjustments for Premier, with most maintaining a neutral outlook, while the average consensus price target stands at $24.50.
• Insider transactions show notable selling activity, with director sales reflecting a decrease in ownership, as 0.96% of the stock is owned by company insiders.

Premier (NASDAQ:PINC - Get Free Report) had its price objective lifted by equities research analysts at Piper Sandler from $24.00 to $28.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. Piper Sandler's target price would suggest a potential upside of 9.61% from the company's current price.

A number of other research analysts have also issued reports on the company. Robert W. Baird lifted their target price on Premier from $22.00 to $27.00 and gave the stock a "neutral" rating in a report on Wednesday, August 20th. Leerink Partners boosted their target price on shares of Premier from $24.00 to $26.00 and gave the stock a "market perform" rating in a report on Tuesday, August 19th. Bank of America lifted their price target on Premier from $19.00 to $21.00 and gave the stock an "underperform" rating in a research note on Tuesday, August 19th. Canaccord Genuity Group upped their price objective on shares of Premier from $22.00 to $25.00 and gave the company a "hold" rating in a research note on Wednesday, August 20th. Finally, UBS Group increased their price objective on Premier from $23.00 to $26.00 and gave the stock a "neutral" rating in a report on Wednesday, August 20th. Eight research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Reduce" and a consensus price target of $24.50.

Premier Stock Up 1.6%

NASDAQ PINC traded up $0.4050 during trading hours on Monday, hitting $25.5450. The company had a trading volume of 348,165 shares, compared to its average volume of 1,616,829. Premier has a fifty-two week low of $17.23 and a fifty-two week high of $27.26. The business has a fifty day simple moving average of $22.30 and a 200-day simple moving average of $20.93. The firm has a market cap of $2.10 billion, a P/E ratio of 115.82 and a beta of 0.56.

Insider Transactions at Premier

In related news, Director Helen M. Boudreau sold 2,000 shares of Premier stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $22.88, for a total value of $45,760.00. Following the completion of the sale, the director directly owned 18,668 shares in the company, valued at $427,123.84. This trade represents a 9.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John T. Bigalke sold 1,137 shares of the business's stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $23.03, for a total value of $26,185.11. Following the transaction, the director owned 28,673 shares of the company's stock, valued at $660,339.19. The trade was a 3.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.96% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new position in shares of Premier in the 4th quarter valued at approximately $286,000. Mariner LLC acquired a new position in shares of Premier in the 4th quarter valued at approximately $282,000. Marshall Wace LLP grew its position in shares of Premier by 134.2% in the 4th quarter. Marshall Wace LLP now owns 64,923 shares of the company's stock valued at $1,376,000 after purchasing an additional 37,196 shares during the period. Susquehanna International Group LLP grew its position in shares of Premier by 66.3% in the 4th quarter. Susquehanna International Group LLP now owns 110,955 shares of the company's stock valued at $2,352,000 after purchasing an additional 44,224 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its position in shares of Premier by 6.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 64,899 shares of the company's stock valued at $1,376,000 after purchasing an additional 3,959 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.

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