Premier (NASDAQ:PINC) Hits New 1-Year High – Here’s Why

Premier, Inc. (NASDAQ:PINC) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $23.50 and last traded at $23.44, with a volume of 46405 shares. The stock had previously closed at $22.84.

Analyst Ratings Changes

PINC has been the subject of several research reports. StockNews.com downgraded shares of Premier from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. Barclays boosted their price target on Premier from $20.00 to $24.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 6th. JPMorgan Chase & Co. decreased their price objective on Premier from $21.00 to $19.00 and set a “neutral” rating for the company in a research report on Monday, September 9th. Benchmark lowered Premier from a “buy” rating to a “hold” rating in a report on Monday, August 26th. Finally, Robert W. Baird upped their price objective on shares of Premier from $19.00 to $20.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. Ten analysts have rated the stock with a hold rating, According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $21.36.

Premier Stock Performance

The stock’s 50-day moving average price is $20.62 and its 200-day moving average price is $19.86. The company has a market capitalization of $2.23 billion, a price-to-earnings ratio of 16.79, a P/E/G ratio of 10.27 and a beta of 0.40.

Premier (NASDAQ:PINC) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.09. The firm had revenue of $248.14 million during 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 quarterly revenue was down 7.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.50 EPS. Analysts anticipate that Premier, Inc. will post 1.09 earnings per share for the current year.

Premier Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 15th. Investors 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 3.63%. Premier’s dividend payout ratio is presently 61.77%.

Insider Buying and Selling at Premier

In related news, COO Leigh Anderson sold 20,000 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $19.62, for a total value of $392,400.00. Following the completion of the transaction, the chief operating officer now owns 131,707 shares of the company’s stock, valued at approximately $2,584,091.34. This represents a 13.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, General Counsel David L. Klatsky sold 1,870 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $20.28, for a total transaction of $37,923.60. Following the sale, the general counsel now directly owns 100,597 shares of the company’s stock, valued at $2,040,107.16. The trade was a 1.82 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 141,537 shares of company stock worth $2,915,552 in the last quarter. 0.96% of the stock is owned by insiders.

Hedge Funds Weigh In On Premier

Large investors have recently modified their holdings of the stock. GAMMA Investing LLC boosted its holdings in shares of Premier by 137.6% in the third quarter. GAMMA Investing LLC now owns 1,347 shares of the company’s stock valued at $27,000 after acquiring an additional 780 shares in the last quarter. Abich Financial Wealth Management LLC increased its position in shares of Premier by 50.0% during the 1st quarter. Abich Financial Wealth Management LLC now owns 1,951 shares of the company’s stock valued at $43,000 after purchasing an additional 650 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in shares of Premier in the 3rd quarter worth $39,000. Versant Capital Management Inc lifted its holdings in shares of Premier by 265.2% in the second quarter. Versant Capital Management Inc now owns 2,140 shares of the company’s stock valued at $40,000 after buying an additional 1,554 shares during the period. Finally, Quarry LP boosted its stake in Premier by 576.7% during the third quarter. Quarry LP now owns 2,179 shares of the company’s stock valued at $44,000 after buying an additional 1,857 shares in the last quarter. Institutional investors own 74.41% of the company’s stock.

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.