Shares of Premier, Inc. (NASDAQ:PINC - Get Free Report) have been given a consensus rating of "Hold" by the nine brokerages that are currently covering the firm, MarketBeat Ratings reports. Nine research analysts have rated the stock with a hold rating. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $21.81.
PINC has been the topic of several recent analyst reports. Benchmark downgraded Premier from a "buy" rating to a "hold" rating in a research report on Monday, August 26th. Robert W. Baird dropped their target price on shares of Premier from $22.00 to $19.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 21st. JPMorgan Chase & Co. cut their target price on shares of Premier from $21.00 to $19.00 and set a "neutral" rating for the company in a research note on Monday, September 9th. StockNews.com lowered shares of Premier from a "buy" rating to a "hold" rating in a research report on Thursday, September 12th. Finally, Canaccord Genuity Group cut their price objective on shares of Premier from $20.00 to $19.00 and set a "hold" rating for the company in a research report on Wednesday, October 2nd.
Get Our Latest Stock Report on PINC
In other Premier news, CEO Michael J. Alkire sold 17,375 shares of the firm's stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $20.13, for a total value of $349,758.75. Following the completion of the sale, the chief executive officer now owns 562,698 shares in the company, valued at approximately $11,327,110.74. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, COO Leigh Anderson sold 20,000 shares of the business's stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $19.62, for a total transaction of $392,400.00. Following the completion of the sale, the chief operating officer now owns 131,707 shares in the company, valued at $2,584,091.34. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Michael J. Alkire sold 17,375 shares of the firm's stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $20.13, for a total value of $349,758.75. Following the completion of the transaction, the chief executive officer now owns 562,698 shares in the company, valued at approximately $11,327,110.74. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 171,587 shares of company stock worth $3,484,750. 0.85% of the stock is owned by corporate insiders.
Several large investors have recently bought and sold shares of PINC. Pacer Advisors Inc. lifted its stake in Premier by 384.3% in the second quarter. Pacer Advisors Inc. now owns 6,311,089 shares of the company's stock valued at $117,828,000 after buying an additional 5,007,851 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Premier by 14.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,951,043 shares of the company's stock valued at $111,105,000 after acquiring an additional 773,207 shares during the period. American Century Companies Inc. raised 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 acquiring an additional 772,392 shares during the period. US Bancorp DE grew its holdings in Premier by 8,726.8% during the first quarter. US Bancorp DE now owns 374,434 shares of the company's stock valued at $8,275,000 after purchasing an additional 370,192 shares during the period. Finally, Invenomic Capital Management LP grew its holdings in Premier by 37.7% during the first quarter. Invenomic Capital Management LP now owns 1,027,437 shares of the company's stock valued at $22,706,000 after purchasing an additional 281,131 shares during the period. 74.41% of the stock is currently owned by institutional investors and hedge funds.
Shares of NASDAQ:PINC opened at $20.26 on Friday. The stock has a market capitalization of $2.03 billion, a PE ratio of 19.67, a P/E/G ratio of 9.13 and a beta of 0.41. Premier has a 1 year low of $17.95 and a 1 year high of $23.01. The firm has a fifty day moving average price of $19.89 and a 200 day moving average price of $19.75.
Premier (NASDAQ:PINC - Get Free Report) last posted its earnings results on Tuesday, August 20th. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.25. Premier had a return on equity of 11.69% and a net margin of 8.88%. The firm had revenue of $350.30 million during the quarter, compared to analyst estimates of $308.88 million. During the same period in the previous year, the company earned $0.70 EPS. The company's revenue for the quarter was up 2.9% on a year-over-year basis. On average, sell-side analysts forecast that Premier will post 1.04 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Sunday, September 15th. Shareholders of record on Sunday, September 1st were given a $0.21 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.84 annualized dividend and a yield of 4.15%. Premier's payout ratio is 81.55%.
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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