Brokerages Set Premier, Inc. (NASDAQ:PINC) Price Target at $22.20

Shares of Premier, Inc. (NASDAQ:PINC - Get Free Report) have earned an average recommendation of "Hold" from the six ratings firms that are covering the firm, Marketbeat.com reports. Six investment analysts have rated the stock with a hold recommendation. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $22.20.

Several brokerages recently commented on PINC. Canaccord Genuity Group boosted their target price on Premier from $19.00 to $22.00 and gave the stock a "hold" rating in a report on Thursday, May 8th. Piper Sandler boosted their target price on Premier from $19.00 to $24.00 and gave the stock a "neutral" rating in a report on Wednesday, May 21st. Finally, Robert W. Baird lifted their price target on shares of Premier from $19.00 to $22.00 and gave the stock a "neutral" rating in a research report on Thursday, May 15th.

Premier Stock Performance

Shares of NASDAQ:PINC traded down $0.05 during trading hours on Tuesday, hitting $21.17. The stock had a trading volume of 962,276 shares, compared to its average volume of 2,056,721. The stock's fifty day simple moving average is $22.19 and its 200 day simple moving average is $20.71. Premier has a 1-year low of $17.23 and a 1-year high of $23.56. The firm has a market capitalization of $1.74 billion, a price-to-earnings ratio of 37.14 and a beta of 0.56.

Insider Activity at Premier

In other news, Director John T. Bigalke sold 1,137 shares of the stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $23.03, for a total transaction of $26,185.11. Following the sale, the director directly owned 28,673 shares of the company's stock, valued at $660,339.19. This represents a 3.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel David L. Klatsky sold 10,982 shares of the stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $22.74, for a total transaction of $249,730.68. Following the sale, the general counsel directly owned 76,093 shares in the company, valued at $1,730,354.82. This trade represents a 12.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 14,119 shares of company stock valued at $321,676 over the last quarter. 0.96% of the stock is owned by company insiders.

Hedge Funds Weigh In On Premier

Large investors have recently bought and sold shares of the business. Signaturefd LLC raised its holdings in Premier by 72.2% in the second quarter. Signaturefd LLC now owns 2,197 shares of the company's stock worth $48,000 after purchasing an additional 921 shares during the period. Aster Capital Management DIFC Ltd bought a new position in Premier in the fourth quarter valued at $52,000. GAMMA Investing LLC grew its position in Premier by 112.1% in the second quarter. GAMMA Investing LLC now owns 2,522 shares of the company's stock valued at $55,000 after purchasing an additional 1,333 shares in the last quarter. Parallel Advisors LLC grew its position in Premier by 2,172.9% in the second quarter. Parallel Advisors LLC now owns 2,932 shares of the company's stock valued at $64,000 after purchasing an additional 2,803 shares in the last quarter. Finally, New Age Alpha Advisors LLC bought a new position in Premier in the fourth quarter valued at $82,000. 74.41% of the stock is currently 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.