Premier (NASDAQ:PINC) Given New $22.00 Price Target at Robert W. Baird

Premier (NASDAQ:PINC) had its price target trimmed by Robert W. Baird from $25.00 to $22.00 in a research report report published on Wednesday, Benzinga reports. The firm currently has a neutral rating on the stock.

Several other analysts also recently issued reports on PINC. Leerink Partnrs reissued a market perform rating on shares of Premier in a research report on Monday, February 26th. SVB Leerink initiated coverage on shares of Premier in a research report on Monday, February 26th. They set a market perform rating and a $22.50 target price for the company. Canaccord Genuity Group reaffirmed a hold rating and issued a $21.00 price target (down previously from $27.00) on shares of Premier in a research report on Wednesday. Canaccord Genuity Group cut Premier from a buy rating to a hold rating and cut their target price for the company from $27.00 to $21.00 in a research report on Wednesday. Finally, StockNews.com downgraded shares of Premier from a buy rating to a hold rating in a report on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Hold and an average target price of $23.50.

Premier Price Performance

Shares of PINC opened at $19.42 on Wednesday. The firm has a market cap of $2.33 billion, a PE ratio of 14.11, a price-to-earnings-growth ratio of 5.22 and a beta of 0.39. Premier has a 52-week low of $18.65 and a 52-week high of $28.30. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.32 and a current ratio of 1.43. The business’s 50 day moving average price is $21.12 and its two-hundred day moving average price is $21.21.

Premier (NASDAQ:PINC) last issued its earnings results on Monday, February 5th. The company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.52 by $0.02. Premier had a return on equity of 11.60% and a net margin of 12.71%. The company had revenue of $334.75 million during the quarter, compared to the consensus estimate of $338.55 million. On average, equities analysts anticipate that Premier will post 1.95 EPS for the current year.

Premier Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, June 15th. Shareholders of record on Saturday, June 1st will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 4.33%. The ex-dividend date of this dividend is Friday, May 31st. Premier’s payout ratio is 60.43%.

Institutional Investors Weigh In On Premier

Large investors have recently modified their holdings of the stock. Arizona State Retirement System lifted its holdings in Premier by 1.6% during the third quarter. Arizona State Retirement System now owns 33,905 shares of the company’s stock valued at $729,000 after purchasing an additional 518 shares during the last quarter. Van ECK Associates Corp boosted its stake in Premier by 22.4% in the 4th quarter. Van ECK Associates Corp now owns 3,289 shares of the company’s stock worth $74,000 after purchasing an additional 601 shares during the period. Vontobel Holding Ltd. grew its holdings in Premier by 2.4% during the 4th quarter. Vontobel Holding Ltd. now owns 27,382 shares of the company’s stock valued at $612,000 after buying an additional 642 shares in the last quarter. Hexagon Capital Partners LLC increased its position in shares of Premier by 71.7% during the fourth quarter. Hexagon Capital Partners LLC now owns 1,660 shares of the company’s stock valued at $37,000 after buying an additional 693 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its position in shares of Premier by 53.0% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,138 shares of the company’s stock valued at $46,000 after acquiring an additional 741 shares during the period. Hedge funds and other institutional investors own 74.41% of the company’s stock.

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.