Premier (NASDAQ:PINC) Price Target Cut to $19.00 by Analysts at Canaccord Genuity Group

Premier (NASDAQ:PINC) had its price objective decreased by Canaccord Genuity Group from $21.00 to $19.00 in a research note released on Wednesday morning,Benzinga reports. Canaccord Genuity Group currently has a hold rating on the stock.

Other research analysts have also issued reports about the stock. Barclays raised their price objective on shares of Premier from $20.00 to $24.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 6th. StockNews.com lowered shares of Premier from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. Finally, Robert W. Baird raised their price target on shares of Premier from $19.00 to $20.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Ten equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Premier has a consensus rating of “Hold” and an average target price of $20.50.

Premier Trading Down 1.0 %

NASDAQ:PINC opened at $18.76 on Wednesday. The stock has a market capitalization of $1.80 billion, a price-to-earnings ratio of 13.79 and a beta of 0.43. The firm has a fifty day simple moving average of $21.60 and a two-hundred day simple moving average of $20.92. Premier has a 12 month low of $17.95 and a 12 month high of $23.56.

Premier (NASDAQ:PINC) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.09. The business had revenue of $248.14 million during the quarter, compared to analysts’ expectations of $232.85 million. Premier had a net margin of 11.41% and a return on equity of 10.74%. The business’s quarterly revenue was down 7.8% on a year-over-year basis. During the same period last year, the company posted $0.50 earnings per share. Equities analysts predict that Premier will post 1.12 earnings per share for the current fiscal year.

Premier Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 4.48%. The ex-dividend date is Friday, February 28th. Premier’s dividend payout ratio is 61.77%.

Insiders Place Their Bets

In other news, Director John T. Bigalke sold 1,136 shares of Premier stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $22.19, for a total value 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. This trade represents a 4.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Helen M. Boudreau sold 2,500 shares of Premier stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $21.42, for a total transaction of $53,550.00. Following the completion of the transaction, the director now owns 20,668 shares of the company’s stock, valued at $442,708.56. The trade was a 10.79 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 59,425 shares of company stock valued at $1,320,242. Company insiders own 0.96% of the company’s stock.

Hedge Funds Weigh In On Premier

Several large investors have recently modified their holdings of PINC. Brooklyn Investment Group grew its stake in Premier by 61,750.0% during the fourth quarter. Brooklyn Investment Group now owns 1,237 shares of the company’s stock valued at $26,000 after acquiring an additional 1,235 shares in the last quarter. GAMMA Investing LLC grew its stake in Premier by 137.6% during the third quarter. GAMMA Investing LLC now owns 1,347 shares of the company’s stock valued at $27,000 after acquiring an additional 780 shares in the last quarter. SRS Capital Advisors Inc. grew its stake in Premier by 157.8% during the fourth quarter. SRS Capital Advisors Inc. now owns 1,284 shares of the company’s stock valued at $27,000 after acquiring an additional 786 shares in the last quarter. Keystone Financial Group Inc. purchased a new position in Premier during the fourth quarter valued at approximately $37,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in Premier during the third quarter valued at approximately $39,000. Hedge funds and other institutional investors 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.