Premier, Inc. (NASDAQ:PINC) Receives $23.50 Average PT from Brokerages

Premier, Inc. (NASDAQ:PINC) has received a consensus recommendation of “Hold” from the twelve ratings firms that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, ten have given a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $23.50.

Several analysts have commented on PINC shares. Piper Sandler dropped their price objective on Premier from $24.00 to $22.00 and set a “neutral” rating on the stock in a report on Wednesday, May 8th. StockNews.com raised Premier from a “hold” rating to a “buy” rating in a report on Thursday, May 9th. Canaccord Genuity Group reissued 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. Canaccord Genuity Group lowered Premier from a “buy” rating to a “hold” rating and dropped their price objective for the company from $27.00 to $21.00 in a report on Wednesday, May 8th. Finally, Robert W. Baird lowered their price target on Premier from $25.00 to $22.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 8th.

Insider Activity

In other news, Director Helen M. Boudreau sold 6,629 shares of the company’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $19.85, for a total value of $131,585.65. Following the transaction, the director now owns 16,067 shares of the company’s stock, valued at approximately $318,929.95. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Andy Brailo sold 8,331 shares of the stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $19.64, for a total transaction of $163,620.84. Following the transaction, the insider now owns 119,203 shares of the company’s stock, valued at approximately $2,341,146.92. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Helen M. Boudreau sold 6,629 shares of the stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $19.85, for a total value of $131,585.65. Following the transaction, the director now directly owns 16,067 shares in the company, valued at approximately $318,929.95. The disclosure for this sale can be found here. Insiders have sold a total of 89,075 shares of company stock valued at $1,700,650 in the last quarter. Insiders own 0.85% of the company’s stock.

Hedge Funds Weigh In On Premier

Hedge funds have recently bought and sold shares of the company. Mitsubishi UFJ Trust & Banking Corp acquired a new position in Premier during the 1st quarter worth about $27,000. Global Retirement Partners LLC increased its holdings in Premier by 153.3% during the 4th 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 holdings 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 purchasing an additional 693 shares during the period. Versant Capital Management Inc increased its holdings in Premier by 265.2% during the 2nd quarter. Versant Capital Management Inc now owns 2,140 shares of the company’s stock worth $40,000 after purchasing an additional 1,554 shares during the period. Finally, Abich Financial Wealth Management LLC increased its holdings in Premier by 50.0% during the 1st quarter. Abich Financial Wealth Management LLC now owns 1,951 shares of the company’s stock worth $43,000 after purchasing an additional 650 shares during the period. Institutional investors and hedge funds own 74.41% of the company’s stock.

Premier Stock Up 3.4 %

Premier stock opened at $19.18 on Friday. The firm has a market cap of $2.01 billion, a price-to-earnings ratio of 29.97, a price-to-earnings-growth ratio of 6.18 and a beta of 0.42. Premier has a 52 week low of $17.95 and a 52 week high of $28.30. The business’s 50-day moving average price is $18.85 and its 200 day moving average price is $20.54. The company has a quick ratio of 0.82, a current ratio of 0.93 and a debt-to-equity ratio of 0.01.

Premier (NASDAQ:PINC) last posted its earnings results on Tuesday, May 7th. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.42 by $0.07. The firm had revenue of $342.60 million for the quarter, compared to analyst estimates of $312.92 million. Premier had a return on equity of 11.71% and a net margin of 6.01%. As a group, sell-side analysts anticipate that Premier will post 1.96 earnings per share for the current year.

Premier Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, June 15th. Stockholders of record on Saturday, June 1st were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 4.38%. The ex-dividend date of this dividend was Friday, May 31st. Premier’s dividend payout ratio (DPR) is presently 131.25%.

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.