Premier (NASDAQ:PINC) Price Target Cut to $19.00 by Analysts at Piper Sandler

Premier (NASDAQ:PINC) had its price target decreased by Piper Sandler from $21.00 to $19.00 in a research report released on Wednesday morning,Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

Other equities analysts have also issued reports about the stock. Canaccord Genuity Group reduced their target price on shares of Premier from $21.00 to $19.00 and set a “hold” rating on the stock in a research report on Wednesday. Robert W. Baird decreased their price objective on Premier from $20.00 to $19.00 and set a “neutral” rating on the stock in a research report on Wednesday. StockNews.com lowered Premier from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th. Finally, Barclays lifted their price objective on Premier from $20.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 6th. Ten investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $20.50.

Premier Stock Performance

NASDAQ:PINC opened at $19.21 on Wednesday. The company has a market capitalization of $1.85 billion, a price-to-earnings ratio of 14.13 and a beta of 0.43. The company has a 50-day moving average of $21.76 and a 200-day moving average of $20.94. Premier has a 52 week low of $17.95 and a 52 week high of $23.56.

Premier (NASDAQ:PINC) last issued its earnings results on Tuesday, November 5th. The company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.09. The business 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%. Premier’s quarterly revenue was down 7.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.50 EPS. Sell-side analysts forecast that Premier will post 1.12 EPS for the current year.

Premier Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st will be issued a $0.21 dividend. The ex-dividend date is Friday, February 28th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.37%. Premier’s dividend payout ratio (DPR) is 61.77%.

Insider Buying and Selling at Premier

In other Premier news, Director Helen M. Boudreau sold 2,500 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $21.42, for a total value of $53,550.00. Following the completion of the sale, the director now owns 20,668 shares in the company, valued at $442,708.56. This trade represents a 10.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Michael J. Alkire sold 18,374 shares of the business’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $21.80, for a total transaction of $400,553.20. Following the transaction, the chief executive officer now owns 502,354 shares in the company, valued at $10,951,317.20. This represents a 3.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 59,425 shares of company stock worth $1,320,242. Corporate insiders own 0.96% of the company’s stock.

Institutional Investors Weigh In On Premier

A number of hedge funds and other institutional investors have recently modified their holdings of PINC. Brooklyn Investment Group boosted its stake in Premier by 61,750.0% in the fourth quarter. Brooklyn Investment Group now owns 1,237 shares of the company’s stock valued at $26,000 after buying an additional 1,235 shares in the last quarter. GAMMA Investing LLC lifted its stake in Premier by 137.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,347 shares of the company’s stock valued at $27,000 after purchasing an additional 780 shares during the last quarter. SRS Capital Advisors Inc. boosted its position in Premier by 157.8% in the fourth quarter. SRS Capital Advisors Inc. now owns 1,284 shares of the company’s stock valued at $27,000 after buying an additional 786 shares in the last quarter. Keystone Financial Group Inc. bought a new stake in shares of Premier during the fourth quarter worth $37,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Premier during the third quarter worth $39,000. 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.