Premier (NASDAQ:PINC) Given New $25.00 Price Target at Canaccord Genuity Group

Key Points

• Canaccord Genuity Group has raised Premier's price target from $22.00 to $25.00, maintaining a "hold" rating, indicating a potential downside of 1.45% from its current price.
• Premier's stock has experienced a trading volume of 359,600 shares with a market cap of $2.09 billion and a PE ratio of 44.59, showing significant fluctuations over the year with a 12-month low of $17.23 and a high of $27.26.
• The company reported earnings of $0.43 per share, exceeding analyst estimates, but its revenue decreased by 12.5% compared to the same quarter last year, highlighting challenges in maintaining growth.

Premier (NASDAQ:PINC - Get Free Report) had its price objective raised by research analysts at Canaccord Genuity Group from $22.00 to $25.00 in a report released on Wednesday,Benzinga reports. The firm presently has a "hold" rating on the stock. Canaccord Genuity Group's price objective points to a potential downside of 1.45% from the company's current price.

Other equities analysts have also issued reports about the company. Leerink Partners increased their price objective on Premier from $24.00 to $26.00 and gave the company a "market perform" rating in a report on Tuesday. Robert W. Baird increased their price target on Premier from $22.00 to $27.00 and gave the stock a "neutral" rating in a research note on Wednesday. Bank of America lifted their price objective on Premier from $19.00 to $21.00 and gave the stock an "underperform" rating in a report on Tuesday. Finally, Piper Sandler boosted their price target on shares of Premier from $19.00 to $24.00 and gave the company a "neutral" rating in a research report on Wednesday, May 21st. Seven research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Premier has an average rating of "Reduce" and an average target price of $23.71.

Premier Stock Performance

PINC stock traded down $0.8420 during mid-day trading on Wednesday, hitting $25.3680. The company had a trading volume of 359,600 shares, compared to its average volume of 1,612,083. The firm has a market cap of $2.09 billion, a PE ratio of 44.59 and a beta of 0.56. Premier has a 12 month low of $17.23 and a 12 month high of $27.26. The stock's fifty day moving average price is $22.12 and its two-hundred day moving average price is $20.80.

Premier (NASDAQ:PINC - Get Free Report) last released its earnings results on Tuesday, August 19th. The company reported $0.43 earnings per share for the quarter, beating analysts' consensus estimates of $0.34 by $0.09. Premier had a net margin of 5.68% and a return on equity of 8.79%. The firm had revenue of $262.86 million during the quarter, compared to the consensus estimate of $247.10 million. During the same period in the prior year, the firm earned $0.69 EPS. The company's revenue was down 12.5% compared to the same quarter last year. Premier has set its FY 2026 guidance at 1.330-1.430 EPS. Equities analysts anticipate that Premier will post 1.13 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director John T. Bigalke sold 1,137 shares of the company'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 transaction, the director owned 28,673 shares of the company's stock, valued at approximately $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 SEC, which can be accessed through the SEC website. Also, Director Helen M. Boudreau sold 2,000 shares of Premier stock in a transaction on Friday, May 30th. The shares were sold at an average price of $22.88, for a total value of $45,760.00. Following the sale, the director directly owned 18,668 shares of the company's stock, valued at $427,123.84. This represents a 9.68% decrease in their position. The disclosure for this sale can be found here. 0.96% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. First Horizon Advisors Inc. lifted its position in Premier by 198.2% during the second quarter. First Horizon Advisors Inc. now owns 1,130 shares of the company's stock valued at $25,000 after purchasing an additional 751 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in shares of Premier during the 2nd quarter worth $32,000. Signaturefd LLC grew its position 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 acquiring an additional 921 shares in the last quarter. GAMMA Investing LLC increased its stake 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 acquiring an additional 1,333 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its position in Premier by 155.1% during the second quarter. Smartleaf Asset Management LLC now owns 2,541 shares of the company's stock valued at $55,000 after purchasing an additional 1,545 shares in the last quarter. 74.41% of the stock is currently owned by institutional investors.

About Premier

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.