Premier, Inc. (NASDAQ:PINC) Declares Quarterly Dividend of $0.21

Premier, Inc. (NASDAQ:PINCGet Free Report) announced a quarterly dividend on Thursday, April 25th, Zacks reports. Investors of record on Saturday, June 1st will be paid a dividend of 0.21 per share on Saturday, June 15th. This represents a $0.84 dividend on an annualized basis and a yield of 4.49%. The ex-dividend date is Friday, May 31st.

Premier has raised its dividend payment by an average of 30.3% annually over the last three years and has increased its dividend every year for the last 3 years. Premier has a dividend payout ratio of 38.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Premier to earn $2.01 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 41.8%.

Premier Price Performance

Shares of PINC stock opened at $18.71 on Thursday. Premier has a 1-year low of $18.65 and a 1-year high of $28.30. The stock’s 50-day moving average is $20.59 and its 200 day moving average is $21.21. The company has a market cap of $1.96 billion, a P/E ratio of 29.23, a PEG ratio of 6.37 and a beta of 0.39. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.93 and a quick ratio of 0.82.

Premier (NASDAQ:PINCGet Free Report) last released its quarterly earnings results on Tuesday, May 7th. The company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.07. Premier had a return on equity of 11.71% and a net margin of 6.01%. Research analysts predict that Premier will post 1.96 earnings per share for the current fiscal year.

Insider Buying and Selling at Premier

In other Premier news, Director Helen M. Boudreau sold 6,629 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $19.85, for a total value of $131,585.65. Following the sale, the director now directly owns 16,067 shares of the company’s stock, valued at $318,929.95. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Andy Brailo sold 13,318 shares of Premier stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $19.00, for a total value of $253,042.00. Following the sale, the insider now directly owns 98,427 shares of the company’s stock, valued at $1,870,113. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Helen M. Boudreau sold 6,629 shares of Premier stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $19.85, for a total value of $131,585.65. Following the completion of the sale, the director now directly owns 16,067 shares in the company, valued at $318,929.95. The disclosure for this sale can be found here. Over the last three months, insiders have sold 55,736 shares of company stock valued at $1,080,612. Company insiders own 0.85% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on PINC. Robert W. Baird decreased their price target on Premier from $25.00 to $22.00 and set a “neutral” rating for the company in a research note on Wednesday, May 8th. Leerink Partnrs restated a “market perform” rating on shares of Premier in a research note on Monday, February 26th. StockNews.com upgraded Premier from a “hold” rating to a “buy” rating in a research note on Thursday, May 9th. Canaccord Genuity Group cut Premier from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $27.00 to $21.00 in a research note on Wednesday, May 8th. Finally, Canaccord Genuity Group reiterated a “hold” rating and set a $21.00 price target (down from $27.00) on shares of Premier in a research report on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Premier currently has a consensus rating of “Hold” and a consensus price target of $23.50.

Read Our Latest Stock Report on Premier

Premier Company Profile

(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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Dividend History for Premier (NASDAQ:PINC)

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