Premier (NASDAQ:PINC) Downgraded by Canaccord Genuity Group

Premier (NASDAQ:PINC) was downgraded by stock analysts at Canaccord Genuity Group from a “buy” rating to a “hold” rating in a report issued on Wednesday, Marketbeat reports. They presently have a $21.00 price objective on the stock, down from their prior price objective of $27.00. Canaccord Genuity Group’s target price would indicate a potential upside of 6.28% from the stock’s previous close.

A number of other research firms have also weighed in on PINC. StockNews.com lowered shares of Premier from a “buy” rating to a “hold” rating in a research note on Wednesday, February 7th. SVB Leerink initiated coverage on Premier in a research report on Monday, February 26th. They set a “market perform” rating and a $22.50 price target on the stock. Finally, Leerink Partnrs reissued a “market perform” rating on shares of Premier in a report on Monday, February 26th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $23.50.

Premier Trading Up 0.8 %

Shares of NASDAQ:PINC opened at $19.76 on Wednesday. The business has a 50-day moving average price of $21.10 and a 200-day moving average price of $21.20. The stock has a market cap of $2.37 billion, a price-to-earnings ratio of 14.22, a PEG ratio of 5.22 and a beta of 0.39. Premier has a 52-week low of $18.65 and a 52-week high of $28.30. The company has a quick ratio of 1.32, a current ratio of 1.43 and a debt-to-equity ratio of 0.02.

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

Hedge Funds Weigh In On Premier

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