Premier, Inc. (NASDAQ:PINC - Get Free Report) reached a new 52-week low during mid-day trading on Wednesday after Piper Sandler lowered their price target on the stock from $24.00 to $22.00. Piper Sandler currently has a neutral rating on the stock. Premier traded as low as $18.65 and last traded at $19.44, with a volume of 605580 shares. The stock had previously closed at $19.41.
Several other research analysts have also recently weighed in on PINC. Robert W. Baird lowered their price objective on Premier from $25.00 to $22.00 and set a "neutral" rating on the stock in a research report on Wednesday. Canaccord Genuity Group reiterated a "hold" rating and issued a $21.00 price objective (down previously from $27.00) on shares of Premier in a research note on Wednesday. Canaccord Genuity Group downgraded shares of Premier from a "buy" rating to a "hold" rating and cut their price objective for the company from $27.00 to $21.00 in a report on Wednesday. Leerink Partnrs reaffirmed a "market perform" rating on shares of Premier in a report on Monday, February 26th. Finally, SVB Leerink initiated coverage on Premier in a research note on Monday, February 26th. They issued a "market perform" rating and a $22.50 price target for the company. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Premier presently has an average rating of "Hold" and an average target price of $23.50.
View Our Latest Report on Premier
Institutional Investors Weigh In On Premier
Several institutional investors and hedge funds have recently bought and sold shares of PINC. Global Retirement Partners LLC lifted its position in Premier by 153.3% during the fourth quarter. Global Retirement Partners LLC now owns 1,583 shares of the company's stock worth $35,000 after purchasing an additional 958 shares during the period. Hexagon Capital Partners LLC raised its stake in Premier by 71.7% during the fourth quarter. Hexagon Capital Partners LLC now owns 1,660 shares of the company's stock worth $37,000 after acquiring an additional 693 shares in the last quarter. Parallel Advisors LLC raised its stake in Premier by 141.2% during the fourth quarter. Parallel Advisors LLC now owns 1,980 shares of the company's stock worth $44,000 after acquiring an additional 1,159 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its stake in Premier by 53.0% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,138 shares of the company's stock worth $46,000 after acquiring an additional 741 shares in the last quarter. Finally, Janiczek Wealth Management LLC raised its stake in Premier by 246.5% during the fourth quarter. Janiczek Wealth Management LLC now owns 2,533 shares of the company's stock worth $57,000 after acquiring an additional 1,802 shares in the last quarter. Institutional investors own 74.41% of the company's stock.
Premier Stock Performance
The company has a quick ratio of 1.32, a current ratio of 1.43 and a debt-to-equity ratio of 0.02. The stock has a market cap of $2.35 billion, a price-to-earnings ratio of 14.11, a P/E/G ratio of 5.22 and a beta of 0.39. The company has a 50 day simple moving average of $21.12 and a 200 day simple moving average of $21.21.
Premier (NASDAQ:PINC - Get Free Report) last issued its earnings results on Monday, February 5th. The company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.52 by $0.02. The firm had revenue of $334.75 million during the quarter, compared to the consensus estimate of $338.55 million. Premier had a return on equity of 11.60% and a net margin of 12.71%. As a group, equities research analysts forecast that Premier, Inc. will post 1.95 EPS for the current year.
Premier Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, June 15th. Stockholders of record on Saturday, June 1st will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 4.28%. The ex-dividend date is Friday, May 31st. Premier's dividend payout ratio is currently 60.43%.
About Premier
(
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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.
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