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

Key Points

• Premier, Inc. has received a consensus rating of "Hold" from six brokerages, with an average one-year price target of $22.20.
• Insider trading activity includes the sale of shares by Directors John T. Bigalke and Helen M. Boudreau, decreasing their holdings by 3.81% and 9.68%, respectively.
• Institutional investors have increased their stakes in Premier, with Alliancebernstein L.P. and Russell Investments Group Ltd. raising their positions in the fourth quarter by 3.0% and 40.4%, respectively.

Premier, Inc. (NASDAQ:PINC - Get Free Report) has been assigned a consensus rating of "Hold" from the six research firms that are covering the company, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation. The average 1 year price target among brokerages that have covered the stock in the last year is $22.20.

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

Insiders Place Their Bets

In related news, Director John T. Bigalke sold 1,137 shares of the business's stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $23.03, for a total value of $26,185.11. Following the sale, the director directly owned 28,673 shares of the company's stock, valued at approximately $660,339.19. The trade was a 3.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Helen M. Boudreau sold 2,000 shares of the business's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $22.88, for a total transaction 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 represents a 9.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.96% of the company's stock.

Institutional Investors Weigh In On Premier

Several institutional investors have recently added to or reduced their stakes in PINC. Alliancebernstein L.P. increased its stake in Premier by 3.0% in the 4th quarter. Alliancebernstein L.P. now owns 61,575 shares of the company's stock valued at $1,305,000 after buying an additional 1,781 shares during the last quarter. Russell Investments Group Ltd. increased its stake in Premier by 40.4% in the 4th quarter. Russell Investments Group Ltd. now owns 4,371 shares of the company's stock valued at $93,000 after buying an additional 1,257 shares during the last quarter. Invesco Ltd. increased its stake in Premier by 23.6% in the 4th quarter. Invesco Ltd. now owns 719,597 shares of the company's stock valued at $15,255,000 after buying an additional 137,306 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Premier in the 4th quarter valued at $286,000. Finally, Sterling Capital Management LLC increased its stake in Premier by 44.5% in the 4th quarter. Sterling Capital Management LLC now owns 5,737 shares of the company's stock valued at $122,000 after buying an additional 1,767 shares during the last quarter. 74.41% of the stock is owned by institutional investors.

Premier Trading Up 1.3%

Shares of Premier stock traded up $0.32 during midday trading on Friday, reaching $24.95. The company had a trading volume of 1,927,972 shares, compared to its average volume of 1,523,990. The company has a market capitalization of $2.05 billion, a price-to-earnings ratio of 43.77 and a beta of 0.56. The stock has a fifty day simple moving average of $22.03 and a 200 day simple moving average of $20.75. Premier has a 1-year low of $17.23 and a 1-year high of $25.27.

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.