JPMorgan Chase & Co. Trims Premier (NASDAQ:PINC) Target Price to $21.00

Premier (NASDAQ:PINCFree Report) had its price target decreased by JPMorgan Chase & Co. from $23.00 to $21.00 in a report published on Tuesday, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

Other equities research analysts have also issued reports about the stock. Canaccord Genuity Group restated a hold rating and issued a $21.00 price objective (down from $27.00) on shares of Premier in a report on Wednesday, May 8th. Piper Sandler cut their price target on shares of Premier from $24.00 to $22.00 and set a neutral rating on the stock in a research note on Wednesday, May 8th. SVB Leerink assumed coverage on shares of Premier in a research note on Monday, February 26th. They set a market perform rating and a $22.50 price target on the stock. Leerink Partnrs reiterated a market perform rating on shares of Premier in a research note on Monday, February 26th. Finally, Canaccord Genuity Group lowered shares of Premier from a buy rating to a hold rating and cut their price target for the stock from $27.00 to $21.00 in a research note on Wednesday, May 8th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Hold and an average target price of $23.50.

Check Out Our Latest Stock Report on PINC

Premier Price Performance

Shares of PINC opened at $18.94 on Tuesday. Premier has a twelve month low of $18.65 and a twelve month high of $28.30. The firm’s fifty day simple moving average is $20.53 and its 200-day simple moving average is $21.19. The firm has a market capitalization of $1.99 billion, a price-to-earnings ratio of 29.59, a PEG ratio of 6.37 and a beta of 0.39. The company has a current ratio of 0.93, a quick ratio of 0.82 and a debt-to-equity ratio of 0.01.

Premier (NASDAQ:PINCGet Free Report) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.07. Premier had a net margin of 6.01% and a return on equity of 11.71%. Equities analysts forecast that Premier will post 1.96 EPS for the current fiscal year.

Premier Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, June 15th. Stockholders of record on Saturday, June 1st will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.44%. The ex-dividend date is Friday, May 31st. Premier’s dividend payout ratio is presently 131.25%.

Insider Activity

In other news, insider Andy Brailo sold 8,331 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $19.64, for a total value of $163,620.84. Following the completion of the transaction, the insider now owns 119,203 shares of the company’s stock, valued at $2,341,146.92. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, COO Leigh Anderson sold 20,000 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $19.41, for a total transaction of $388,200.00. Following the completion of the sale, the chief operating officer now directly owns 183,928 shares of the company’s stock, valued at approximately $3,570,042.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Andy Brailo sold 8,331 shares of the company’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $19.64, for a total value of $163,620.84. Following the sale, the insider now owns 119,203 shares of the company’s stock, valued at $2,341,146.92. The disclosure for this sale can be found here. Insiders sold a total of 55,736 shares of company stock valued at $1,080,612 over the last 90 days. Insiders own 0.85% of the company’s stock.

Institutional Investors Weigh In On Premier

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Premier by 12.9% in the third quarter. Vanguard Group Inc. now owns 14,013,386 shares of the company’s stock valued at $301,288,000 after buying an additional 1,597,067 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Premier by 10.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,413,931 shares of the company’s stock valued at $31,615,000 after acquiring an additional 129,813 shares in the last quarter. Rhumbline Advisers boosted its position in Premier by 108.0% during the 3rd quarter. Rhumbline Advisers now owns 350,447 shares of the company’s stock worth $7,535,000 after purchasing an additional 181,979 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in Premier in the 3rd quarter valued at $1,712,000. Finally, Victory Capital Management Inc. raised its position in Premier by 984.9% in the third quarter. Victory Capital Management Inc. now owns 518,964 shares of the company’s stock valued at $11,158,000 after purchasing an additional 471,131 shares during the period. 74.41% of the stock is currently owned by institutional investors and hedge funds.

About Premier

(Get Free Report)

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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Analyst Recommendations for Premier (NASDAQ:PINC)

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