why Premier Inc [PINC] is a Good Choice for Investors After New Price Target of $24.25

Premier Inc [NASDAQ: PINC] gained 0.97% or 0.21 points to close at $21.80 with a heavy trading volume of 5863089 shares. The company report on March 5, 2024 at 8:30 AM that Premier, Inc. to Participate in Barclays Global Healthcare Conference on March 12, 2024.

Premier, Inc. (NASDAQ: PINC), a leading technology-driven healthcare improvement company, today announced that members of its management team will participate in a fireside chat at the Barclays Global Healthcare Conference on Tuesday, March 12, 2024 at 2:05 p.m. ET.

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A link to the live audio webcast, as well as a replay of this event, will be available in the Investors section of the company’s website at www.investors.premierinc.com under Events and Presentations.

The daily chart for PINC points out that the company has recorded 0.14% gains over the past six months.

If we look at the average trading volume of 1.54M shares, PINC reached to a volume of 5863089 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Premier Inc [PINC]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PINC shares is $24.25 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PINC stock is a recommendation set at 2.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Leerink Partners have made an estimate for Premier Inc shares, keeping their opinion on the stock as Market Perform, with their previous recommendation back on February 26, 2024. While these analysts kept the previous recommendation, Barclays raised their target price to Equal Weight. The new note on the price target was released on January 03, 2024, representing the official price target for Premier Inc stock. Previously, the target price had yet another drop from $44 to $25, while Piper Sandler kept a Neutral rating on PINC stock. On May 03, 2023, analysts decreased their price target for PINC shares from 43 to 30.

The Average True Range (ATR) for Premier Inc is set at 0.46, with the Price to Sales ratio for PINC stock in the period of the last 12 months amounting to 1.98. The Price to Book ratio for the last quarter was 1.09, with the Price to Cash per share for the same quarter was set at 3.10. Price to Free Cash Flow for PINC in the course of the last twelve months was 13.73 with Quick ratio for the last quarter at 1.31.

Trading performance analysis for PINC stock

Premier Inc [PINC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.49. With this latest performance, PINC shares gained by 0.83% in over the last four-week period, additionally plugging by 0.14% over the last 6 months – not to mention a drop of -31.90% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PINC stock in for the last two-week period is set at 56.82, with the RSI for the last a single of trading hit 60.80, and the three-weeks RSI is set at 54.32 for Premier Inc [PINC]. The present Moving Average for the last 50 days of trading for this stock 21.47, while it was recorded at 21.70 for the last single week of trading, and 22.76 for the last 200 days.

Premier Inc [PINC]: A deeper dive into fundamental analysis

Premier Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.31 and a Current Ratio set at 1.42.

Premier Inc [PINC]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Premier Inc posted 0.58/share EPS, while the average EPS was predicted by analysts to be reported at 0.58/share. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for PINC. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Premier Inc go to 1.80%.

An analysis of Institutional ownership at Premier Inc [PINC]

The top three institutional holders of PINC stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in PINC stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in PINC stock with ownership which is approximately 5.8325%.