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

Key Points

• Weiss Ratings has reiterated a "Hold (C-)" rating for Premier (NASDAQ:PINC), reflecting cautious sentiment about the stock's performance.
• Recent target price adjustments from various analysts range from $21.00 to $28.25, with a consensus target price of $26.07, indicating mixed outlooks for the company.
• Insider selling activity has been noted, with key insiders reducing their positions, suggesting potential caution regarding the stock's future growth prospects.

Premier (NASDAQ:PINC - Get Free Report)'s stock had its "hold (c-)" rating reissued by equities researchers at Weiss Ratings in a report released on Saturday,Weiss Ratings reports.

Other research analysts have also recently issued research reports about the company. Bank of America upped their target price on Premier from $19.00 to $21.00 and gave the company an "underperform" rating in a research note on Tuesday, August 19th. Canaccord Genuity Group increased their price objective on Premier from $25.00 to $28.25 and gave the stock a "hold" rating in a research note on Tuesday, September 23rd. Piper Sandler upped their target price on Premier from $24.00 to $28.00 and gave the stock a "neutral" rating in a report on Monday, August 25th. Leerink Partners upped their target price on Premier from $24.00 to $26.00 and gave the stock a "market perform" rating in a report on Tuesday, August 19th. Finally, Robert W. Baird increased their price objective on Premier from $22.00 to $27.00 and gave the company a "neutral" rating in a report on Wednesday, August 20th. Seven research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Premier has an average rating of "Reduce" and a consensus target price of $26.07.

Premier Stock Performance

NASDAQ:PINC opened at $28.12 on Friday. The stock has a 50-day simple moving average of $27.02 and a two-hundred day simple moving average of $23.61. Premier has a 52-week low of $17.23 and a 52-week high of $28.79. The firm has a market capitalization of $2.32 billion, a PE ratio of 127.82 and a beta of 0.64.

Premier (NASDAQ:PINC - Get Free Report) last posted its earnings results on Tuesday, January 14th. The company reported $0.67 EPS for the quarter. Premier had a return on equity of 7.04% and a net margin of 2.00%.The company had revenue of ($713.06) million for the quarter. Equities analysts forecast that Premier will post 1.13 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Andy Brailo sold 6,521 shares of Premier stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $25.79, for a total value of $168,176.59. Following the completion of the transaction, the insider owned 99,447 shares in the company, valued at $2,564,738.13. The trade was a 6.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel David L. Klatsky sold 1,319 shares of Premier stock in a transaction dated 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 transaction, the general counsel owned 94,331 shares of the company's stock, valued at approximately $2,438,456.35. This represents a 1.38% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,326 shares of company stock valued at $317,230. Company insiders own 0.96% of the company's stock.

Hedge Funds Weigh In On Premier

Institutional investors and hedge funds have recently modified their holdings of the business. CW Advisors LLC boosted its holdings in Premier by 1.8% in the 1st quarter. CW Advisors LLC now owns 26,166 shares of the company's stock worth $504,000 after buying an additional 454 shares during 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 worth $25,000 after purchasing an additional 751 shares in the last quarter. Huntington National Bank raised 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 valued at $84,000 after buying an additional 753 shares during the period. Russell Investments Group Ltd. raised 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 valued at $611,000 after buying an additional 852 shares during the period. Finally, Signaturefd LLC increased its holdings in Premier by 72.2% in the 2nd quarter. Signaturefd LLC now owns 2,197 shares of the company's stock valued at $48,000 after purchasing an additional 921 shares during the last quarter. 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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