Premier, Inc. (NASDAQ:PINC) Given Consensus Rating of “Hold” by Brokerages

Premier, Inc. (NASDAQ:PINCGet Rating) has been assigned a consensus recommendation of “Hold” from the nine analysts that are covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $41.00.

Several brokerages recently weighed in on PINC. Credit Suisse Group began coverage on shares of Premier in a report on Friday, April 1st. They issued an “underperform” rating and a $35.00 target price for the company. SVB Leerink reiterated an “outperform” rating on shares of Premier in a research note on Tuesday, May 3rd. Guggenheim initiated coverage on shares of Premier in a research note on Wednesday, April 13th. They issued a “neutral” rating on the stock. Piper Sandler upgraded shares of Premier from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $39.00 to $45.00 in a research note on Wednesday, May 4th. Finally, Canaccord Genuity Group decreased their price target on shares of Premier from $47.00 to $44.00 and set a “buy” rating on the stock in a research note on Wednesday, May 4th.

Shares of PINC opened at $35.81 on Thursday. The firm has a market cap of $4.23 billion, a PE ratio of 15.50, a P/E/G ratio of 1.57 and a beta of 0.28. The company has a current ratio of 0.88, a quick ratio of 0.72 and a debt-to-equity ratio of 0.10. The firm has a fifty day simple moving average of $36.69 and a two-hundred day simple moving average of $37.27. Premier has a 1-year low of $33.26 and a 1-year high of $42.15.

Premier (NASDAQ:PINCGet Rating) last announced its earnings results on Tuesday, May 3rd. The company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.05). The company had revenue of $347.84 million for the quarter, compared to analysts’ expectations of $340.10 million. Premier had a net margin of 18.14% and a return on equity of 12.13%. Premier’s quarterly revenue was down 26.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.55 earnings per share. As a group, research analysts forecast that Premier will post 2.2 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 15th. Stockholders of record on Wednesday, June 1st were paid a dividend of $0.20 per share. The ex-dividend date was Tuesday, May 31st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.23%. Premier’s dividend payout ratio is presently 34.63%.

A number of institutional investors and hedge funds have recently made changes to their positions in PINC. Wellington Management Group LLP boosted its stake in Premier by 0.8% in the third quarter. Wellington Management Group LLP now owns 185,345 shares of the company’s stock valued at $7,185,000 after acquiring an additional 1,468 shares in the last quarter. Voloridge Investment Management LLC acquired a new stake in Premier in the third quarter valued at approximately $713,000. Two Sigma Investments LP acquired a new stake in Premier in the third quarter valued at approximately $2,346,000. Janus Henderson Group PLC boosted its stake in Premier by 61.1% in the third quarter. Janus Henderson Group PLC now owns 268,084 shares of the company’s stock valued at $10,391,000 after acquiring an additional 101,627 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in Premier in the third quarter valued at approximately $264,000. Institutional investors own 67.78% of the company’s stock.

About Premier (Get Rating)

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 document shredding.

Further Reading

Analyst Recommendations for Premier (NASDAQ:PINC)

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