Premier (NASDAQ:PINC) Receives Hold Rating from Canaccord Genuity Group

Premier (NASDAQ:PINC)‘s stock had its “hold” rating reiterated by investment analysts at Canaccord Genuity Group in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $21.00 price target on the stock, down from their prior price target of $27.00. Canaccord Genuity Group’s price target suggests a potential upside of 8.19% from the stock’s previous close.

PINC has been the subject of a number of other reports. Canaccord Genuity Group cut Premier from a “buy” rating to a “hold” rating and cut their price objective for the company from $27.00 to $21.00 in a research report on Wednesday. StockNews.com lowered shares of Premier from a “buy” rating to a “hold” rating in a report on Wednesday, February 7th. SVB Leerink started coverage on shares of Premier in a research report on Monday, February 26th. They issued a “market perform” rating and a $22.50 target price on the stock. Finally, Leerink Partnrs reissued a “market perform” rating on shares of Premier in a research note on Monday, February 26th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Premier presently has an average rating of “Hold” and an average target price of $23.77.

Premier Stock Performance

NASDAQ PINC opened at $19.41 on Wednesday. Premier has a fifty-two week low of $18.89 and a fifty-two week high of $28.30. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.32 and a current ratio of 1.43. The firm has a market capitalization of $2.33 billion, a P/E ratio of 13.96, a PEG ratio of 5.22 and a beta of 0.39. The stock has a 50-day simple moving average of $21.15 and a two-hundred day simple moving average of $21.22.

Premier (NASDAQ:PINC) last released its quarterly earnings results on Monday, February 5th. The company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.52 by $0.02. The company had revenue of $334.75 million for the quarter, compared to analyst estimates of $338.55 million. Premier had a net margin of 12.71% and a return on equity of 11.60%. On average, equities analysts forecast that Premier will post 1.95 earnings per share for the current year.

Hedge Funds Weigh In On Premier

Several hedge funds have recently bought and sold shares of the company. Global Retirement Partners LLC increased its stake in Premier by 153.3% during the fourth quarter. Global Retirement Partners LLC now owns 1,583 shares of the company’s stock worth $35,000 after purchasing an additional 958 shares during the period. Hexagon Capital Partners LLC increased its stake in Premier by 71.7% during the 4th quarter. Hexagon Capital Partners LLC now owns 1,660 shares of the company’s stock worth $37,000 after buying an additional 693 shares during the period. Parallel Advisors LLC lifted its holdings in Premier by 141.2% during the 4th quarter. Parallel Advisors LLC now owns 1,980 shares of the company’s stock worth $44,000 after buying an additional 1,159 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its position in Premier by 53.0% in the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,138 shares of the company’s stock valued at $46,000 after buying an additional 741 shares during the period. Finally, Janiczek Wealth Management LLC grew its stake in shares of Premier by 246.5% in the fourth quarter. Janiczek Wealth Management LLC now owns 2,533 shares of the company’s stock worth $57,000 after acquiring an additional 1,802 shares in the last quarter. Institutional investors and hedge funds own 74.41% of the company’s stock.

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.