Premier, Inc. (NASDAQ:PINC) Receives $21.36 Consensus Target Price from Brokerages

Premier, Inc. (NASDAQ:PINC) has received a consensus rating of “Hold” from the nine research firms that are presently covering the firm, MarketBeat Ratings reports. Nine analysts have rated the stock with a hold rating. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $21.36.

A number of equities research analysts have issued reports on the stock. Barclays boosted their target price on shares of Premier from $20.00 to $24.00 and gave the company an “equal weight” rating in a report on Wednesday, November 6th. JPMorgan Chase & Co. decreased their price objective on Premier from $21.00 to $19.00 and set a “neutral” rating on the stock in a research note on Monday, September 9th. Robert W. Baird raised their target price on Premier from $19.00 to $20.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. StockNews.com lowered Premier from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th. Finally, Canaccord Genuity Group increased their price target on shares of Premier from $19.00 to $21.00 and gave the stock a “hold” rating in a report on Wednesday, November 6th.

Insider Transactions at Premier

In other news, CEO Michael J. Alkire sold 17,900 shares of the stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $20.00, for a total transaction of $358,000.00. Following the transaction, the chief executive officer now directly owns 540,243 shares in the company, valued at approximately $10,804,860. This represents a 3.21 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Leigh Anderson sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $21.88, for a total value of $437,600.00. Following the completion of the sale, the chief operating officer now owns 111,707 shares of the company’s stock, valued at $2,444,149.16. The trade was a 15.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 74,825 shares of company stock valued at $1,624,692 in the last quarter. Insiders own 0.96% of the company’s stock.

Hedge Funds Weigh In On Premier

A number of large investors have recently added to or reduced their stakes in the business. Y Intercept Hong Kong Ltd boosted its position in Premier by 2.4% during the third quarter. Y Intercept Hong Kong Ltd now owns 20,409 shares of the company’s stock valued at $408,000 after buying an additional 478 shares during the period. Arizona State Retirement System grew its position in Premier by 2.0% during the 2nd quarter. Arizona State Retirement System now owns 33,542 shares of the company’s stock worth $626,000 after acquiring an additional 653 shares during the last quarter. Abich Financial Wealth Management LLC increased its stake in Premier by 37.0% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 2,672 shares of the company’s stock worth $50,000 after purchasing an additional 721 shares during the period. GAMMA Investing LLC lifted its position in Premier by 137.6% in the third quarter. GAMMA Investing LLC now owns 1,347 shares of the company’s stock valued at $27,000 after purchasing an additional 780 shares during the last quarter. Finally, Impact Partnership Wealth LLC boosted its stake in shares of Premier by 7.1% during the third quarter. Impact Partnership Wealth LLC now owns 11,945 shares of the company’s stock valued at $239,000 after purchasing an additional 795 shares during the period. Hedge funds and other institutional investors own 74.41% of the company’s stock.

Premier Trading Up 0.8 %

Shares of NASDAQ PINC opened at $21.55 on Friday. The stock has a fifty day simple moving average of $21.91 and a two-hundred day simple moving average of $20.46. Premier has a 1-year low of $17.95 and a 1-year high of $23.56. The firm has a market cap of $2.07 billion, a price-to-earnings ratio of 15.85 and a beta of 0.43.

Premier (NASDAQ:PINC) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.09. The company had revenue of $248.14 million during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.50 EPS. Analysts forecast that Premier will post 1.09 EPS for the current year.

Premier Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.84 annualized dividend and a yield of 3.90%. Premier’s payout ratio is presently 61.76%.

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.