Premier, Inc. (NASDAQ:PINC) to Issue $0.21 Quarterly Dividend

by · The Markets Daily

Premier, Inc. (NASDAQ:PINC – Get Free Report) announced a quarterly dividend on Thursday, October 24th, Zacks reports. Shareholders of record on Sunday, December 1st will be given a dividend of 0.21 per share on Sunday, December 15th. This represents a $0.84 annualized dividend and a yield of 4.25%. The ex-dividend date is Friday, November 29th.

Premier has increased its dividend by an average of 30.3% annually over the last three years. Premier has a payout ratio of 69.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Premier to earn $0.99 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 84.8%.

Premier Stock Performance

Shares of NASDAQ PINC traded down $0.09 during mid-day trading on Friday, reaching $19.76. 510,130 shares of the company’s stock were exchanged, compared to its average volume of 1,372,808. The company’s 50-day moving average is $19.89 and its 200-day moving average is $19.71. The firm has a market capitalization of $1.98 billion, a price-to-earnings ratio of 19.18, a PEG ratio of 9.43 and a beta of 0.41. Premier has a 52-week low of $17.95 and a 52-week high of $23.01.

Premier (NASDAQ:PINC – Get Free Report) last announced its quarterly earnings results on Tuesday, August 20th. The company reported $0.69 earnings per share for the quarter, beating 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 business had revenue of $350.30 million during the quarter, compared to analysts’ expectations of $308.88 million. During the same period last year, the business earned $0.70 earnings per share. The business’s revenue for the quarter was up 2.9% on a year-over-year basis. As a group, equities analysts predict that Premier will post 1.04 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Andy Brailo sold 4,390 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $20.51, for a total value of $90,038.90. Following the completion of the transaction, the insider now directly owns 104,410 shares of the company’s stock, valued at $2,141,449.10. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Premier news, insider Andy Brailo sold 4,390 shares of the company’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $20.51, for a total value of $90,038.90. Following the completion of the transaction, the insider now owns 104,410 shares in the company, valued at $2,141,449.10. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Michael J. Alkire sold 17,900 shares of the business’s stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $20.00, for a total value of $358,000.00. Following the completion of the sale, the chief executive officer now owns 540,243 shares of the company’s stock, valued at approximately $10,804,860. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 154,212 shares of company stock worth $3,134,991. 0.85% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PINC. JPMorgan Chase & Co. lowered their price target on Premier from $21.00 to $19.00 and set a “neutral” rating for the company in a research report on Monday, September 9th. Benchmark cut Premier from a “buy” rating to a “hold” rating in a report on Monday, August 26th. Canaccord Genuity Group cut their price target on shares of Premier from $20.00 to $19.00 and set a “hold” rating on the stock in a research note on Wednesday, October 2nd. Robert W. Baird dropped their price objective on shares of Premier from $22.00 to $19.00 and set a “neutral” rating for the company in a report on Wednesday, August 21st. Finally, StockNews.com lowered shares of Premier from a “buy” rating to a “hold” rating in a report on Thursday, September 12th. Ten investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $21.81.

Get Our Latest Stock Analysis on PINC

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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