Premier, Inc. Announces Quarterly Dividend of $0.21 (NASDAQ:PINC)

Key Points

• Premier, Inc. declared a quarterly dividend of $0.21 per share, with the payment date set for September 15th, indicating a yield of 3.4%.
• The company has a current payout ratio of 60.9% and is expected to increase this to 63.2% next year, ensuring its dividend is covered by earnings.
• Analysts have set a consensus price target of $22.20 for Premier, with ratings predominantly being "hold" from several research reports.

Premier, Inc. (NASDAQ:PINC - Get Free Report) declared a quarterly dividend on Monday, August 18th, RTT News reports. Investors of record on Monday, September 1st will be given a dividend of 0.21 per share on Monday, September 15th. This represents a c) dividend on an annualized basis and a yield of 3.4%.

Premier has a payout ratio of 60.9% meaning its dividend is sufficiently covered by earnings. Analysts expect Premier to earn $1.33 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 63.2%.

Premier Stock Up 1.3%

Shares of Premier stock opened at $24.95 on Monday. Premier has a 12 month low of $17.23 and a 12 month high of $25.27. The stock has a market cap of $2.05 billion, a PE ratio of 43.77 and a beta of 0.56. The business has a fifty day simple moving average of $22.03 and a 200-day simple moving average of $20.75.

Wall Street Analysts Forecast Growth

PINC has been the topic of several research analyst reports. Robert W. Baird boosted their price target on shares of Premier from $19.00 to $22.00 and gave the company a "neutral" rating in a report on Thursday, May 15th. Canaccord Genuity Group lifted their price objective on Premier from $19.00 to $22.00 and gave the company a "hold" rating in a research report on Thursday, May 8th. Finally, Piper Sandler upped their target price on Premier from $19.00 to $24.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 21st. Seven equities research analysts have rated the stock with a hold rating, According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $22.20.

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.

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