Premier (NASDAQ:PINC) Stock Price Expected to Rise, Piper Sandler Analyst Says

Premier (NASDAQ:PINC - Get Free Report) had its target price increased by investment analysts at Piper Sandler from $19.00 to $24.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. Piper Sandler's price target points to a potential upside of 2.89% from the stock's previous close.

PINC has been the subject of several other reports. Robert W. Baird upped their target price on Premier from $19.00 to $22.00 and gave the company a "neutral" rating in a report on Thursday, May 15th. Canaccord Genuity Group upped their price target on shares of Premier from $19.00 to $22.00 and gave the company a "hold" rating in a research report on Thursday, May 8th. Seven equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, Premier presently has an average rating of "Hold" and a consensus price target of $22.20.

Premier Trading Up 1.0%

PINC stock traded up $0.23 during trading hours on Wednesday, hitting $23.33. 216,102 shares of the stock traded hands, compared to its average volume of 1,421,705. The stock has a 50-day simple moving average of $20.19 and a 200 day simple moving average of $20.69. The company has a market cap of $1.92 billion, a P/E ratio of -233.23 and a beta of 0.54. Premier has a one year low of $17.23 and a one year high of $23.56.

Insider Buying and Selling at Premier

In other Premier news, General Counsel David L. Klatsky sold 10,982 shares of Premier stock in a transaction 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 completion of the sale, the general counsel now owns 76,093 shares of the company's stock, valued at $1,730,354.82. This trade represents a 12.61% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In the last quarter, insiders have sold 22,119 shares of company stock worth $464,974. 0.96% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of PINC. SRS Capital Advisors Inc. grew its stake in shares of Premier by 157.8% in the 4th quarter. SRS Capital Advisors Inc. now owns 1,284 shares of the company's stock valued at $27,000 after buying an additional 786 shares in the last quarter. Keystone Financial Group Inc. bought a new position in shares of Premier during the 4th quarter valued at $37,000. Smartleaf Asset Management LLC lifted its stake in shares of Premier by 297.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,906 shares of the company's stock valued at $40,000 after purchasing an additional 1,427 shares during the last quarter. Van ECK Associates Corp boosted its holdings in Premier by 28.0% in the fourth quarter. Van ECK Associates Corp now owns 2,041 shares of the company's stock worth $43,000 after purchasing an additional 446 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd acquired a new position in shares of Premier during the 4th quarter valued at about $52,000. Hedge funds and other 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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