Premier (NASDAQ:PINC) Rating Lowered to Hold at StockNews.com

StockNews.com downgraded shares of Premier (NASDAQ:PINC) from a buy rating to a hold rating in a research note released on Thursday.

A number of other equities research analysts have also issued reports on PINC. Canaccord Genuity Group dropped their target price on Premier from $21.00 to $20.00 and set a hold rating on the stock in a research report on Wednesday, August 21st. Robert W. Baird lowered their price objective on shares of Premier from $22.00 to $19.00 and set a neutral rating on the stock in a report on Wednesday, August 21st. Benchmark lowered shares of Premier from a buy rating to a hold rating in a research report on Monday, August 26th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Premier from $21.00 to $19.00 and set a neutral rating for the company in a research report on Monday, September 9th. Ten investment analysts have rated the stock with a hold rating, According to MarketBeat, Premier presently has an average rating of Hold and a consensus price target of $21.94.

Premier Stock Performance

NASDAQ PINC opened at $20.29 on Thursday. The stock has a market cap of $2.03 billion, a price-to-earnings ratio of 31.70, a PEG ratio of 9.23 and a beta of 0.40. The business has a 50 day simple moving average of $19.93 and a 200 day simple moving average of $20.03. Premier has a 52-week low of $17.95 and a 52-week high of $23.01.

Premier (NASDAQ:PINC) last issued its quarterly earnings data on Tuesday, August 20th. The company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.25. The company had revenue of $350.30 million during the quarter, compared to the consensus estimate of $308.88 million. Premier had a net margin of 8.88% and a return on equity of 11.69%. The firm’s revenue was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.70 earnings per share. On average, analysts predict that Premier will post 1.04 EPS for the current year.

Premier Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 15th. Stockholders of record on Sunday, September 1st were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.14%. The ex-dividend date of this dividend was Friday, August 30th. Premier’s dividend payout ratio (DPR) is presently 131.25%.

Insider Activity

In other news, COO Leigh Anderson sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $18.63, for a total value of $372,600.00. Following the completion of the sale, the chief operating officer now directly owns 163,928 shares of the company’s stock, valued at $3,053,978.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Michael J. Alkire sold 2,625 shares of the company’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $20.00, for a total value of $52,500.00. Following the transaction, the chief executive officer now owns 580,073 shares in the company, valued at approximately $11,601,460. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Leigh Anderson sold 20,000 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $18.63, for a total transaction of $372,600.00. Following the completion of the transaction, the chief operating officer now directly owns 163,928 shares in the company, valued at $3,053,978.64. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 156,312 shares of company stock valued at $3,154,400. 0.85% of the stock is owned by company insiders.

Hedge Funds Weigh In On Premier

Several institutional investors and hedge funds have recently made changes to their positions in the company. Abich Financial Wealth Management LLC lifted its holdings in Premier by 50.0% during the 1st quarter. Abich Financial Wealth Management LLC now owns 1,951 shares of the company’s stock worth $43,000 after purchasing an additional 650 shares during the last quarter. Arizona State Retirement System lifted its holdings 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 buying an additional 653 shares in the last quarter. Comerica Bank boosted its position in shares of Premier by 0.9% in the first quarter. Comerica Bank now owns 77,422 shares of the company’s stock valued at $1,711,000 after acquiring an additional 728 shares during the period. Caxton Associates LP boosted its position in shares of Premier by 1.6% in the second quarter. Caxton Associates LP now owns 69,168 shares of the company’s stock valued at $1,291,000 after acquiring an additional 1,095 shares during the period. Finally, Parallel Advisors LLC grew its stake in shares of Premier by 141.2% in the fourth quarter. Parallel Advisors LLC now owns 1,980 shares of the company’s stock valued at $44,000 after acquiring an additional 1,159 shares in the last quarter. Institutional investors and hedge funds own 74.41% of the company’s stock.

Premier Company Profile

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.