Premier, Inc. (NASDAQ:PINC) Receives Consensus Rating of “Hold” from Analysts

Shares of Premier, Inc. (NASDAQ:PINC) have been given an average rating of “Hold” by the nine brokerages that are presently covering the company, Marketbeat reports. Nine research analysts have rated the stock with a hold recommendation. The average 1-year price objective among brokers that have covered the stock in the last year is $21.36.

Several equities analysts have weighed in on PINC shares. StockNews.com lowered shares of Premier from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th. Canaccord Genuity Group increased their price objective on Premier from $19.00 to $21.00 and gave the stock a “hold” rating in a research report on Wednesday, November 6th. Barclays lifted their target price on Premier from $20.00 to $24.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 6th. Finally, Robert W. Baird increased their price target on Premier from $19.00 to $20.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th.

Premier Price Performance

Shares of Premier stock opened at $21.16 on Friday. Premier has a 1-year low of $17.95 and a 1-year high of $23.56. The stock has a market cap of $2.03 billion, a P/E ratio of 15.56 and a beta of 0.43. The stock’s 50 day simple moving average is $21.99 and its 200-day simple moving average is $20.51.

Premier (NASDAQ:PINC) last issued its earnings results on Tuesday, November 5th. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.09. The company had revenue of $248.14 million during the quarter, compared to analysts’ expectations of $232.85 million. Premier had a return on equity of 10.74% and a net margin of 11.41%. The firm’s quarterly revenue was down 7.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.50 EPS. As a group, research analysts expect that Premier will post 1.09 EPS for the current fiscal year.

Premier Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st were paid a $0.21 dividend. The ex-dividend date was Friday, November 29th. This represents a $0.84 annualized dividend and a dividend yield of 3.97%. Premier’s dividend payout ratio (DPR) is 61.76%.

Insider Activity

In other Premier news, Director John T. Bigalke sold 1,136 shares of the business’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $22.19, for a total transaction of $25,207.84. Following the completion of the transaction, the director now owns 23,846 shares in the company, valued at $529,142.74. The trade was a 4.55 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Helen M. Boudreau sold 2,500 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $21.42, for a total transaction of $53,550.00. Following the completion of the sale, the director now owns 20,668 shares in the company, valued at $442,708.56. The trade was a 10.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 77,325 shares of company stock worth $1,678,242. Corporate insiders own 0.96% of the company’s stock.

Institutional Investors Weigh In On Premier

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Empowered Funds LLC increased its stake in Premier by 27.7% in the third quarter. Empowered Funds LLC now owns 428,076 shares of the company’s stock valued at $8,562,000 after purchasing an additional 92,766 shares during the last quarter. American Century Companies Inc. grew its position in shares of Premier by 60.4% in the 2nd quarter. American Century Companies Inc. now owns 2,051,578 shares of the company’s stock valued at $38,303,000 after buying an additional 772,392 shares during the last quarter. AQR Capital Management LLC raised its stake in Premier by 6.6% during the 2nd quarter. AQR Capital Management LLC now owns 1,590,926 shares of the company’s stock worth $29,241,000 after acquiring an additional 98,544 shares in the last quarter. Jane Street Group LLC lifted its position in Premier by 70.2% in the third quarter. Jane Street Group LLC now owns 143,803 shares of the company’s stock valued at $2,876,000 after acquiring an additional 59,295 shares during the last quarter. Finally, State Street Corp boosted its stake in Premier by 0.8% in the third quarter. State Street Corp now owns 3,973,582 shares of the company’s stock valued at $79,472,000 after acquiring an additional 32,193 shares in the last quarter. Institutional investors and hedge funds 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.