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

Shares of Premier, Inc. (NASDAQ:PINC) have earned a consensus recommendation of “Hold” from the nine ratings firms that are presently covering the company, MarketBeat.com reports. Nine equities research analysts have rated the stock with a hold recommendation. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $21.36.

Several research analysts recently issued reports on the stock. 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 research note on Wednesday, November 6th. Barclays lifted 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. StockNews.com lowered Premier from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. Benchmark downgraded Premier from a “buy” rating to a “hold” rating in a report on Monday, August 26th. Finally, JPMorgan Chase & Co. reduced their price target on Premier from $21.00 to $19.00 and set a “neutral” rating for the company in a report on Monday, September 9th.

Premier Stock Performance

Premier stock opened at $21.79 on Monday. Premier has a fifty-two week low of $17.95 and a fifty-two week high of $23.56. The stock’s 50 day simple moving average is $21.36 and its two-hundred day simple moving average is $20.14. The stock has a market cap of $2.09 billion, a price-to-earnings ratio of 16.02 and a beta of 0.42.

Premier (NASDAQ:PINC) last issued 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 for the quarter, compared to analysts’ expectations of $232.85 million. Premier had a return on equity of 10.74% and a net margin of 11.41%. The firm’s revenue for the quarter was down 7.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.50 earnings per share. On average, analysts predict that Premier will post 1.09 earnings per share for the current year.

Premier Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 15th. Investors of record on Sunday, December 1st will be issued a $0.21 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.84 annualized dividend and a yield of 3.85%. Premier’s payout ratio is 61.77%.

Insider Buying and Selling at Premier

In related news, CFO Craig S. Mckasson sold 10,000 shares of the company’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $20.41, for a total transaction of $204,100.00. Following the completion of the sale, the chief financial officer now owns 263,699 shares in the company, valued at approximately $5,382,096.59. This represents a 3.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael J. Alkire sold 17,415 shares of the stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $23.16, for a total value of $403,331.40. Following the completion of the transaction, the chief executive officer now directly owns 520,728 shares in the company, valued at approximately $12,060,060.48. This represents a 3.24 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 104,825 shares of company stock worth $2,184,542. Company insiders own 0.96% of the company’s stock.

Institutional Investors Weigh In On Premier

A number of large investors have recently made changes to their positions in the company. Y Intercept Hong Kong Ltd boosted its holdings in shares of Premier by 2.4% in the third quarter. Y Intercept Hong Kong Ltd now owns 20,409 shares of the company’s stock worth $408,000 after buying an additional 478 shares during the last quarter. Arizona State Retirement System grew its position in shares of Premier by 2.0% during the 2nd quarter. Arizona State Retirement System now owns 33,542 shares of the company’s stock valued at $626,000 after acquiring an additional 653 shares during the period. Abich Financial Wealth Management LLC increased its stake in shares of 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 in the last quarter. GAMMA Investing LLC lifted its position 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 purchasing an additional 780 shares in the last quarter. Finally, Impact Partnership Wealth LLC grew its holdings in 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. 74.41% of the stock is currently owned by institutional investors.

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.