Weiss Ratings Reaffirms "Hold (C-)" Rating for Premier (NASDAQ:PINC)

Key Points

• Weiss Ratings has reaffirmed its "Hold (C-)" rating for Premier (NASDAQ:PINC), indicating a cautious outlook on the stock.
• Multiple analysts have raised their price targets for Premier, with UBS Group setting a new target of $28.25, reflecting growing confidence in the company's performance.
• Insider activity shows recent sales, with key executives reducing their positions, highlighting potential caution among company insiders regarding future stock performance.

Premier (NASDAQ:PINC - Get Free Report)'s stock had its "hold (c-)" rating reissued by investment analysts at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

Other analysts have also issued reports about the company. UBS Group lifted their price objective on Premier from $26.00 to $28.25 and gave the stock a "neutral" rating in a research report on Thursday, September 25th. Leerink Partners boosted their target price on Premier from $24.00 to $26.00 and gave the stock a "market perform" rating in a research report on Tuesday, August 19th. Bank of America boosted their target price on Premier from $19.00 to $21.00 and gave the stock an "underperform" rating in a research report on Tuesday, August 19th. Canaccord Genuity Group boosted their target price on Premier from $25.00 to $28.25 and gave the stock a "hold" rating in a research report on Tuesday, September 23rd. Finally, Piper Sandler boosted their target price on Premier from $24.00 to $28.00 and gave the stock a "neutral" rating in a research report on Monday, August 25th. Seven analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Reduce" and an average target price of $26.07.

Premier Stock Up 1.1%

Shares of PINC stock opened at $28.21 on Wednesday. The stock has a 50-day moving average price of $25.81 and a 200 day moving average price of $22.86. The firm has a market cap of $2.33 billion, a price-to-earnings ratio of 128.23 and a beta of 0.64. Premier has a 12 month low of $17.23 and a 12 month high of $28.79.

Insider Buying and Selling at Premier

In other Premier news, insider Andy Brailo sold 6,521 shares of the business's stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $25.79, for a total value of $168,176.59. Following the sale, the insider owned 99,447 shares in the company, valued at approximately $2,564,738.13. The trade was a 6.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel David L. Klatsky sold 1,319 shares of the business's stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $25.85, for a total value of $34,096.15. Following the completion of the sale, the general counsel owned 94,331 shares in the company, valued at $2,438,456.35. The trade was a 1.38% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 12,326 shares of company stock worth $317,230. Corporate insiders own 0.96% of the company's stock.

Institutional Investors Weigh In On Premier

Several institutional investors have recently bought and sold shares of the company. CW Advisors LLC lifted its stake in Premier by 1.8% in the 1st quarter. CW Advisors LLC now owns 26,166 shares of the company's stock valued at $504,000 after acquiring an additional 454 shares in the last quarter. First Horizon Advisors Inc. lifted its stake in Premier by 198.2% in the 2nd quarter. First Horizon Advisors Inc. now owns 1,130 shares of the company's stock valued at $25,000 after acquiring an additional 751 shares in the last quarter. Huntington National Bank increased its position in shares of Premier by 24.4% during the 2nd quarter. Huntington National Bank now owns 3,844 shares of the company's stock worth $84,000 after purchasing an additional 753 shares during the last quarter. Russell Investments Group Ltd. increased its position in shares of Premier by 3.2% during the 2nd quarter. Russell Investments Group Ltd. now owns 27,868 shares of the company's stock worth $611,000 after purchasing an additional 852 shares during the last quarter. Finally, Signaturefd LLC increased its position in shares of Premier by 72.2% during the 2nd quarter. Signaturefd LLC now owns 2,197 shares of the company's stock worth $48,000 after purchasing an additional 921 shares during the last quarter. 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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