Barclays PLC lifted its position in shares of Premier, Inc. (NASDAQ:PINC – Free Report) by 286.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 89,954 shares of the company’s stock after buying an additional 66,700 shares during the quarter. Barclays PLC owned about 0.08% of Premier worth $2,488,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of the company. Bank of Nova Scotia increased its position in shares of Premier by 32.9% during the second quarter. Bank of Nova Scotia now owns 15,448 shares of the company’s stock worth $427,000 after buying an additional 3,821 shares during the period. Bank of Montreal Can acquired a new stake in Premier in the second quarter worth $2,592,000. State of New Jersey Common Pension Fund D grew its holdings in Premier by 42.0% in the second quarter. State of New Jersey Common Pension Fund D now owns 95,833 shares of the company’s stock worth $2,651,000 after purchasing an additional 28,345 shares during the period. Reinhart Partners LLC. grew its holdings in Premier by 1.0% in the second quarter. Reinhart Partners LLC. now owns 929,381 shares of the company’s stock worth $25,707,000 after purchasing an additional 9,383 shares during the period. Finally, Alaska Permanent Fund Corp acquired a new stake in Premier in the second quarter worth $4,485,000. 66.85% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of equities research analysts have commented on PINC shares. Credit Suisse Group reduced their price target on shares of Premier from $33.00 to $25.00 and set a “neutral” rating for the company in a report on Thursday, August 24th. Robert W. Baird dropped their price objective on shares of Premier from $30.00 to $24.00 and set a “neutral” rating on the stock in a research note on Thursday, August 24th. Benchmark dropped their price objective on shares of Premier from $32.00 to $30.00 and set a “buy” rating on the stock in a research note on Thursday, November 9th. Piper Sandler lowered shares of Premier from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $44.00 to $25.00 in a research note on Wednesday, August 23rd. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Premier from $26.00 to $21.00 and set a “neutral” rating on the stock in a research note on Monday. One analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $27.50.
Premier Stock Up 0.7 %
PINC opened at $19.34 on Tuesday. The firm has a market capitalization of $2.30 billion, a P/E ratio of 13.07, a PEG ratio of 4.26 and a beta of 0.34. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.30 and a quick ratio of 1.21. Premier, Inc. has a fifty-two week low of $18.89 and a fifty-two week high of $35.57. The company’s 50-day moving average is $20.76 and its 200 day moving average is $24.48.
Premier (NASDAQ:PINC – Get Free Report) last announced its quarterly earnings data on Tuesday, August 22nd. The company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.66 by $0.02. The business had revenue of $340.40 million for the quarter, compared to analyst estimates of $355.59 million. Premier had a net margin of 13.20% and a return on equity of 12.48%. The company’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.54 earnings per share. Research analysts expect that Premier, Inc. will post 2.21 earnings per share for the current fiscal year.
Premier Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 4.34%. The ex-dividend date of this dividend is Thursday, November 30th. Premier’s dividend payout ratio is 56.76%.
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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