Brokerages Set Premier, Inc. (NASDAQ:PINC) Target Price at $21.36

Premier, Inc. (NASDAQ:PINC) has earned an average rating of “Hold” from the nine analysts that are presently covering the stock, MarketBeat Ratings reports. Nine equities research analysts have rated the stock with a hold rating. The average 1 year price target among brokers that have issued a report on the stock in the last year is $21.36.

Several research firms have issued reports on PINC. Barclays lifted their price target on shares of Premier from $20.00 to $24.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 6th. Robert W. Baird lifted their price objective on shares of Premier from $19.00 to $20.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. Benchmark lowered Premier from a “buy” rating to a “hold” rating in a research note on Monday, August 26th. JPMorgan Chase & Co. cut their price objective on Premier from $21.00 to $19.00 and set a “neutral” rating on the stock in a report on Monday, September 9th. Finally, Canaccord Genuity Group lifted their target price on Premier from $19.00 to $21.00 and gave the stock a “hold” rating in a report on Wednesday, November 6th.

Insider Buying and Selling

In other news, Director John T. Bigalke sold 1,136 shares of the 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 sale, the director now directly owns 23,846 shares in the company, valued at $529,142.74. This represents a 4.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael J. Alkire sold 1,264 shares of the business’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $20.01, for a total transaction of $25,292.64. Following the transaction, the chief executive officer now owns 558,143 shares in the company, valued at $11,168,441.43. The trade was a 0.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 86,451 shares of company stock worth $1,783,989 in the last 90 days. Insiders own 0.96% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Y Intercept Hong Kong Ltd lifted its stake in Premier by 2.4% during the third quarter. Y Intercept Hong Kong Ltd now owns 20,409 shares of the company’s stock worth $408,000 after purchasing an additional 478 shares in the last quarter. Arizona State Retirement System increased its position in shares of Premier by 2.0% during the second 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 period. Abich Financial Wealth Management LLC raised its stake in shares of Premier by 37.0% in the second quarter. Abich Financial Wealth Management LLC now owns 2,672 shares of the company’s stock valued at $50,000 after acquiring an additional 721 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Premier by 137.6% during the third quarter. GAMMA Investing LLC now owns 1,347 shares of the company’s stock worth $27,000 after buying an additional 780 shares in the last quarter. Finally, Impact Partnership Wealth LLC increased its position in shares of Premier by 7.1% in the 3rd 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 last quarter. Hedge funds and other institutional investors own 74.41% of the company’s stock.

Premier Trading Down 0.1 %

Shares of NASDAQ:PINC opened at $21.75 on Monday. The company has a market capitalization of $2.09 billion, a PE ratio of 15.99 and a beta of 0.42. Premier has a 12-month low of $17.95 and a 12-month high of $23.56. The business’s fifty day simple moving average is $21.25 and its 200-day simple moving average is $20.11.

Premier (NASDAQ:PINC) last posted its earnings results on Tuesday, November 5th. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.09. The company had revenue of $248.14 million for the quarter, compared to analyst estimates 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 previous year, the firm earned $0.50 earnings per share. Research analysts predict that Premier will post 1.09 EPS for the current year.

Premier Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st will be given a $0.21 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.84 annualized dividend and a dividend yield of 3.86%. Premier’s dividend payout ratio (DPR) is 61.77%.

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.