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

Shares of Premier, Inc. (NASDAQ:PINC - Get Free Report) have been given a consensus recommendation of "Hold" by the nine brokerages that are currently covering the stock, MarketBeat Ratings reports. Nine research analysts have rated the stock with a hold rating. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $21.36.

A number of equities analysts recently commented on the company. Canaccord Genuity Group increased their price target on Premier from $19.00 to $21.00 and gave the company a "hold" rating in a research note on Wednesday, November 6th. Robert W. Baird increased their target price on Premier from $19.00 to $20.00 and gave the company a "neutral" rating in a research report on Wednesday, November 6th. StockNews.com cut shares of Premier from a "buy" rating to a "hold" rating in a research report on Tuesday, November 5th. Barclays increased their price objective on shares of Premier from $20.00 to $24.00 and gave the company an "equal weight" rating in a research report on Wednesday, November 6th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Premier from $21.00 to $19.00 and set a "neutral" rating on the stock in a research report on Monday, September 9th.

Premier Price Performance

Shares of NASDAQ PINC traded up $0.18 during mid-day trading on Friday, reaching $21.55. The company's stock had a trading volume of 980,693 shares, compared to its average volume of 918,246. Premier has a 52 week low of $17.95 and a 52 week high of $23.56. The stock has a fifty day moving average of $21.88 and a two-hundred day moving average of $20.41. The firm has a market capitalization of $2.07 billion, a PE ratio of 15.85 and a beta of 0.42.

Premier (NASDAQ:PINC - Get Free Report) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.25 by $0.09. Premier had a net margin of 11.41% and a return on equity of 10.74%. The business had revenue of $248.14 million during the quarter, compared to analyst estimates of $232.85 million. During the same period last year, the firm posted $0.50 EPS. The company's revenue was down 7.8% on a year-over-year basis. Analysts anticipate that Premier will post 1.09 EPS for the current fiscal year.

Premier Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.84 annualized dividend and a dividend yield of 3.90%. Premier's dividend payout ratio (DPR) is presently 61.76%.

Insider Activity

In other Premier news, CEO Michael J. Alkire sold 17,415 shares of the company's 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 transaction, the chief executive officer now directly owns 520,728 shares in the company, valued at $12,060,060.48. This represents a 3.24 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Leigh Anderson sold 20,000 shares of the firm's stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $21.88, for a total transaction of $437,600.00. Following the transaction, the chief operating officer now directly owns 111,707 shares in the company, valued at approximately $2,444,149.16. This trade represents a 15.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 74,825 shares of company stock valued at $1,624,692. 0.96% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Premier

Institutional investors and hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC increased its holdings 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 buying an additional 780 shares during the period. Wilmington Savings Fund Society FSB bought a new position in shares of Premier in the 3rd quarter worth $39,000. Quarry LP lifted its stake in shares of Premier by 576.7% during the 3rd quarter. Quarry LP now owns 2,179 shares of the company's stock worth $44,000 after purchasing an additional 1,857 shares during the last quarter. Meeder Asset Management Inc. bought a new stake in Premier during the second quarter valued at about $47,000. Finally, Abich Financial Wealth Management LLC grew its stake in 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 purchasing an additional 721 shares during the last quarter. 74.41% of the stock is 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.