Premier (NASDAQ:PINC) Sets New 12-Month Low at $34.28

Shares of Premier, Inc. (NASDAQ:PINCGet Rating) reached a new 52-week low during mid-day trading on Friday . The company traded as low as $34.28 and last traded at $34.30, with a volume of 6218 shares traded. The stock had previously closed at $34.56.

Analysts Set New Price Targets

PINC has been the subject of a number of research analyst reports. Credit Suisse Group upped their price objective on shares of Premier from $35.00 to $38.00 and gave the stock an “underperform” rating in a research report on Wednesday, August 17th. Canaccord Genuity Group upped their price target on shares of Premier from $44.00 to $46.00 in a research report on Wednesday, August 17th. StockNews.com cut shares of Premier from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 18th. Benchmark upped their price target on shares of Premier from $44.00 to $46.00 and gave the company a “buy” rating in a research report on Wednesday, August 24th. Finally, TheStreet cut shares of Premier from a “b” rating to a “c+” rating in a research report on Tuesday, September 13th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $42.83.

Premier Stock Performance

The stock’s 50 day moving average price is $36.92 and its 200 day moving average price is $36.60. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.70 and a current ratio of 0.86. The company has a market capitalization of $4.11 billion, a P/E ratio of 16.11, a price-to-earnings-growth ratio of 1.46 and a beta of 0.34.

Premier (NASDAQ:PINCGet Rating) last posted its quarterly earnings data on Tuesday, August 16th. The company reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. Premier had a net margin of 18.55% and a return on equity of 11.98%. The company had revenue of $340.70 million for the quarter, compared to analyst estimates of $332.88 million. During the same period in the prior year, the firm posted $0.55 EPS. The company’s quarterly revenue was down 29.2% on a year-over-year basis. As a group, equities analysts expect that Premier, Inc. will post 2.35 EPS for the current year.

Premier Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were paid a dividend of $0.21 per share. The ex-dividend date was Wednesday, August 31st. This is a positive change from Premier’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 2.41%. Premier’s dividend payout ratio is currently 38.89%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Acadian Asset Management LLC bought a new position in Premier during the fourth quarter worth $42,000. Parallel Advisors LLC boosted its stake in Premier by 37.0% during the second quarter. Parallel Advisors LLC now owns 1,185 shares of the company’s stock worth $42,000 after acquiring an additional 320 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new position in Premier during the second quarter worth $44,000. Captrust Financial Advisors boosted its stake in Premier by 48.5% during the second quarter. Captrust Financial Advisors now owns 1,362 shares of the company’s stock worth $49,000 after acquiring an additional 445 shares in the last quarter. Finally, EverSource Wealth Advisors LLC acquired a new position in Premier during the second quarter worth $53,000. 68.18% of the stock is owned by institutional investors.

Premier Company Profile

(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 workforce solutions.

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