Premier, Inc. (NASDAQ:PINC) Receives Average Rating of “Hold” from Analysts

Shares of Premier, Inc. (NASDAQ:PINCGet Free Report) have earned a consensus rating of “Hold” from the ten research firms that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $25.44.

PINC has been the topic of a number of research reports. Benchmark dropped their price objective on Premier from $32.00 to $30.00 and set a “buy” rating on the stock in a report on Thursday, November 9th. JPMorgan Chase & Co. decreased their price objective on shares of Premier from $26.00 to $21.00 and set a “neutral” rating for the company in a report on Monday, November 13th. StockNews.com lowered shares of Premier from a “buy” rating to a “hold” rating in a research report on Wednesday, February 7th. Finally, Barclays initiated coverage on Premier in a report on Wednesday, January 3rd. They issued an “equal weight” rating and a $22.00 target price on the stock.

Check Out Our Latest Stock Analysis on PINC

Institutional Trading of Premier

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Advisor Group Holdings Inc. increased its position in shares of Premier by 25.0% during the 1st quarter. Advisor Group Holdings Inc. now owns 5,759 shares of the company’s stock valued at $204,000 after purchasing an additional 1,150 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Premier by 0.8% in the first quarter. Bank of New York Mellon Corp now owns 806,553 shares of the company’s stock worth $28,705,000 after purchasing an additional 6,673 shares during the last quarter. American Century Companies Inc. boosted its holdings in Premier by 12.4% during the 1st quarter. American Century Companies Inc. now owns 15,900 shares of the company’s stock valued at $566,000 after acquiring an additional 1,748 shares during the period. PNC Financial Services Group Inc. boosted its position in Premier by 3,921.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 6,715 shares of the company’s stock valued at $238,000 after buying an additional 6,548 shares during the period. Finally, Acadian Asset Management LLC grew its position in shares of Premier by 1,174.7% in the 1st quarter. Acadian Asset Management LLC now owns 13,282 shares of the company’s stock worth $472,000 after buying an additional 12,240 shares during the last quarter. Institutional investors and hedge funds own 66.85% of the company’s stock.

Premier Trading Up 2.8 %

Shares of NASDAQ PINC opened at $21.84 on Tuesday. The company has a market cap of $2.60 billion, a price-to-earnings ratio of 15.71, a price-to-earnings-growth ratio of 5.38 and a beta of 0.37. The company has a current ratio of 1.43, a quick ratio of 1.32 and a debt-to-equity ratio of 0.02. Premier has a 12-month low of $18.89 and a 12-month high of $33.75. The stock’s 50 day simple moving average is $21.98 and its 200 day simple moving average is $22.02.

Premier Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Friday, March 1st will be issued a $0.21 dividend. The ex-dividend date is Thursday, February 29th. This represents a $0.84 dividend on an annualized basis and a yield of 3.85%. Premier’s payout ratio is 60.43%.

About Premier

(Get Free Report

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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Analyst Recommendations for Premier (NASDAQ:PINC)

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