Premier (NASDAQ:PINC) PT Lowered to $19.00

Premier (NASDAQ:PINC) had its price target lowered by JPMorgan Chase & Co. from $21.00 to $19.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has a neutral rating on the stock.

PINC has been the topic of several other reports. StockNews.com downgraded Premier from a buy rating to a hold rating in a research report on Monday, September 2nd. Canaccord Genuity Group cut their price objective on Premier from $21.00 to $20.00 and set a hold rating for the company in a research note on Wednesday, August 21st. Robert W. Baird decreased their target price on shares of Premier from $22.00 to $19.00 and set a neutral rating on the stock in a research note on Wednesday, August 21st. Finally, Benchmark lowered shares of Premier from a buy rating to a hold rating in a research report on Monday, August 26th. Ten investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock has a consensus rating of Hold and an average price target of $21.94.

Premier Stock Down 3.6 %

NASDAQ PINC opened at $19.70 on Monday. The company has a 50-day moving average price of $19.82 and a 200-day moving average price of $20.08. Premier has a 52 week low of $17.95 and a 52 week high of $23.24. The firm has a market capitalization of $1.97 billion, a P/E ratio of 30.78, a PEG ratio of 9.82 and a beta of 0.40.

Premier (NASDAQ:PINC) last announced its earnings results on Tuesday, August 20th. The company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.25. The business had revenue of $350.30 million during the quarter, compared to analysts’ expectations of $308.88 million. Premier had a net margin of 8.88% and a return on equity of 11.69%. The firm’s revenue was up 2.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.70 earnings per share. As a group, equities research analysts anticipate that Premier will post 1.02 EPS for the current year.

Premier Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, September 15th. Investors of record on Sunday, September 1st will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.26%. Premier’s dividend payout ratio is 131.25%.

Insider Buying and Selling at Premier

In related news, General Counsel David L. Klatsky sold 1,319 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $19.96, for a total transaction of $26,327.24. Following the completion of the transaction, the general counsel now directly owns 102,467 shares of the company’s stock, valued at $2,045,241.32. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, General Counsel David L. Klatsky sold 1,319 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $19.96, for a total transaction of $26,327.24. Following the completion of the transaction, the general counsel now directly owns 102,467 shares in the company, valued at approximately $2,045,241.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Leigh Anderson sold 20,000 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $18.63, for a total transaction of $372,600.00. Following the completion of the sale, the chief operating officer now owns 163,928 shares in the company, valued at approximately $3,053,978.64. The disclosure for this sale can be found here. Insiders sold 134,922 shares of company stock valued at $2,717,392 in the last 90 days. Insiders own 0.85% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Van ECK Associates Corp raised its position in Premier by 22.4% during the fourth quarter. Van ECK Associates Corp now owns 3,289 shares of the company’s stock valued at $74,000 after purchasing an additional 601 shares during the period. Natixis Advisors L.P. lifted its stake in shares of Premier by 10.8% during the 4th quarter. Natixis Advisors L.P. now owns 19,504 shares of the company’s stock worth $436,000 after acquiring an additional 1,901 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Premier by 10.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,413,931 shares of the company’s stock valued at $31,615,000 after acquiring an additional 129,813 shares during the period. Teacher Retirement System of Texas increased its stake in Premier by 41.9% in the fourth quarter. Teacher Retirement System of Texas now owns 59,954 shares of the company’s stock worth $1,341,000 after purchasing an additional 17,694 shares during the period. Finally, Vanguard Personalized Indexing Management LLC increased its stake in Premier by 39.7% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 14,452 shares of the company’s stock worth $323,000 after purchasing an additional 4,104 shares during the period. Institutional investors own 74.41% of the company’s stock.

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.