Piper Sandler Has Lowered Expectations for Premier (NASDAQ:PINC) Stock Price

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

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

Premier Stock Up 0.5 %

Shares of NASDAQ:PINC opened at $19.21 on Wednesday. Premier has a twelve month low of $17.95 and a twelve month high of $23.56. The stock’s 50 day moving average is $21.76 and its 200-day moving average is $20.94. The firm has a market capitalization of $1.85 billion, a price-to-earnings ratio of 14.13 and a beta of 0.43.

Premier (NASDAQ:PINC) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.25 by $0.09. The firm had revenue of $248.14 million during the quarter, compared to the consensus estimate of $232.85 million. Premier had a return on equity of 10.74% and a net margin of 11.41%. The company’s quarterly revenue was down 7.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.50 earnings per share. Equities research analysts anticipate that Premier will post 1.12 earnings per share for the current fiscal year.

Premier Announces Dividend

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

Insider Transactions at Premier

In other Premier news, Director John T. Bigalke sold 1,136 shares of the stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $22.19, for a total value of $25,207.84. Following the completion of the transaction, the director now owns 23,846 shares in the company, valued at approximately $529,142.74. This represents a 4.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Leigh Anderson sold 20,000 shares of the company’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $21.88, for a total transaction of $437,600.00. Following the completion of the sale, the chief operating officer now owns 111,707 shares in the company, valued at approximately $2,444,149.16. This trade represents a 15.19 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 59,425 shares of company stock worth $1,320,242. 0.96% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Premier

A number of institutional investors have recently modified their holdings of PINC. Algert Global LLC purchased a new position in shares of Premier during the 2nd quarter worth $225,000. Creative Planning raised its holdings in shares of Premier by 29.6% during the 2nd quarter. Creative Planning now owns 50,980 shares of the company’s stock worth $952,000 after acquiring an additional 11,645 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Premier in the 3rd quarter worth about $678,000. Handelsbanken Fonder AB raised its position in Premier by 27.5% during the third quarter. Handelsbanken Fonder AB now owns 41,295 shares of the company’s stock valued at $826,000 after purchasing an additional 8,900 shares during the period. Finally, GAMMA Investing LLC boosted its stake in Premier by 137.6% during the third quarter. GAMMA Investing LLC now owns 1,347 shares of the company’s stock worth $27,000 after buying an additional 780 shares during the period. 74.41% of the stock is owned by hedge funds and other institutional investors.

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.