Premier (NASDAQ:PINC) Trading 8.2% Higher – What’s Next?

Shares of Premier, Inc. (NASDAQ:PINC) were up 8.2% during trading on Tuesday . The company traded as high as $21.81 and last traded at $21.65. Approximately 141,550 shares traded hands during mid-day trading, a decline of 90% from the average daily volume of 1,350,296 shares. The stock had previously closed at $20.01.

Wall Street Analyst Weigh In

Several analysts have weighed in on PINC shares. Robert W. Baird dropped their target price on shares of Premier from $22.00 to $19.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 21st. Canaccord Genuity Group dropped their price objective on shares of Premier from $20.00 to $19.00 and set a “hold” rating on the stock in a report on Wednesday, October 2nd. JPMorgan Chase & Co. reduced their target price on Premier from $21.00 to $19.00 and set a “neutral” rating for the company in a research note on Monday, September 9th. Benchmark downgraded Premier from a “buy” rating to a “hold” rating in a research note on Monday, August 26th. Finally, StockNews.com cut Premier from a “buy” rating to a “hold” rating in a research note on Tuesday. Ten analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $21.81.

Premier Stock Up 13.3 %

The company has a market capitalization of $2.27 billion, a PE ratio of 19.43, a PEG ratio of 9.56 and a beta of 0.40. The firm has a 50-day moving average of $19.89 and a two-hundred day moving average of $19.66.

Premier (NASDAQ:PINC) last announced its quarterly earnings results on Tuesday, August 20th. The company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.25. Premier had a net margin of 8.88% and a return on equity of 11.69%. The firm had revenue of $350.30 million for the quarter, compared to the consensus estimate of $308.88 million. During the same period in the prior year, the firm posted $0.70 earnings per share. The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. Equities analysts predict that Premier, Inc. will post 1.04 EPS for the current fiscal year.

Premier Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 15th. Investors of record on Sunday, December 1st will be issued a $0.21 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.84 dividend on an annualized basis and a yield of 3.70%. Premier’s payout ratio is 81.55%.

Insiders Place Their Bets

In other news, CFO Craig S. Mckasson sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $20.00, for a total transaction of $200,000.00. Following the completion of the transaction, the chief financial officer now directly owns 278,110 shares of the company’s stock, valued at $5,562,200. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CFO Craig S. Mckasson sold 10,000 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $20.00, for a total transaction of $200,000.00. Following the completion of the transaction, the chief financial officer now owns 278,110 shares in the company, valued at $5,562,200. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael J. Alkire sold 17,900 shares of the firm’s stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $20.00, for a total transaction of $358,000.00. Following the completion of the transaction, the chief executive officer now directly owns 540,243 shares in the company, valued at $10,804,860. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 135,441 shares of company stock worth $2,738,548. 0.96% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Abich Financial Wealth Management LLC raised its holdings in Premier by 50.0% in the 1st quarter. Abich Financial Wealth Management LLC now owns 1,951 shares of the company’s stock valued at $43,000 after acquiring an additional 650 shares during the last quarter. Arizona State Retirement System increased its holdings in shares of Premier by 2.0% in the second quarter. Arizona State Retirement System now owns 33,542 shares of the company’s stock valued at $626,000 after purchasing an additional 653 shares during the last quarter. Comerica Bank lifted its position in Premier by 0.9% during the first quarter. Comerica Bank now owns 77,422 shares of the company’s stock worth $1,711,000 after buying an additional 728 shares in the last quarter. 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 last quarter. Finally, Impact Partnership Wealth LLC grew its holdings in Premier by 7.1% in the 3rd quarter. Impact Partnership Wealth LLC now owns 11,945 shares of the company’s stock valued at $239,000 after buying an additional 795 shares in the last quarter. 74.41% of the stock is owned by institutional investors and hedge funds.

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.