Premier, Inc. (NASDAQ:PINC – Get Rating) announced a quarterly dividend on Thursday, April 21st, Zacks reports. Investors of record on Wednesday, June 1st will be paid a dividend of 0.20 per share on Wednesday, June 15th. This represents a $0.80 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date is Tuesday, May 31st.
Premier has a payout ratio of 30.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Premier to earn $2.36 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 33.9%.
Shares of PINC opened at $38.24 on Friday. The stock has a market cap of $4.51 billion, a PE ratio of 16.55, a P/E/G ratio of 1.72 and a beta of 0.28. The company has a quick ratio of 0.72, a current ratio of 0.88 and a debt-to-equity ratio of 0.10. Premier has a twelve month low of $32.57 and a twelve month high of $42.15. The business’s 50-day moving average price is $36.56 and its 200-day moving average price is $37.65.
Hedge funds have recently bought and sold shares of the business. MetLife Investment Management LLC acquired a new position in shares of Premier during the first quarter worth about $84,000. Metropolitan Life Insurance Co NY acquired a new position in Premier during the 4th quarter worth approximately $100,000. Ensign Peak Advisors Inc acquired a new position in Premier during the 1st quarter worth approximately $185,000. Covestor Ltd increased its position in shares of Premier by 83.4% in the 1st quarter. Covestor Ltd now owns 5,302 shares of the company’s stock valued at $189,000 after purchasing an additional 2,411 shares during the last quarter. Finally, Advisor Group Holdings Inc. raised its holdings in shares of Premier by 25.0% in 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 in the last quarter. 67.78% of the stock is currently owned by institutional investors.
Several equities analysts recently issued reports on the stock. Guggenheim began coverage on shares of Premier in a report on Wednesday, April 13th. They set a “neutral” rating on the stock. SVB Leerink restated an “outperform” rating on shares of Premier in a research note on Tuesday, May 3rd. Zacks Investment Research lowered shares of Premier from a “hold” rating to a “sell” rating in a research report on Thursday, May 12th. Canaccord Genuity Group cut their price target on shares of Premier from $47.00 to $44.00 and set a “buy” rating for the company in a report on Wednesday, May 4th. Finally, StockNews.com raised Premier from a “buy” rating to a “strong-buy” rating in a research note on Thursday, May 19th. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $42.57.
About Premier (Get Rating)
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 document shredding.
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