Premier, Inc. (PINC) To Go Ex-Dividend on August 30th

Premier, Inc. (NASDAQ:PINC) announced a quarterly dividend on Thursday, August 8th, Zacks reports. Shareholders of record on Sunday, September 1st will be given a dividend of 0.21 per share on Sunday, September 15th. This represents a $0.84 annualized dividend and a yield of 4.20%. The ex-dividend date is Friday, August 30th.

Premier has increased its dividend by an average of 30.3% per year over the last three years. Premier has a payout ratio of 37.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Premier to earn $2.00 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 42.0%.

Premier Trading Up 0.2 %

Shares of NASDAQ:PINC traded up $0.03 during trading on Friday, reaching $19.98. 625,823 shares of the company were exchanged, compared to its average volume of 1,504,130. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.93 and a quick ratio of 0.82. The firm has a market capitalization of $2.09 billion, a PE ratio of 31.22, a P/E/G ratio of 6.90 and a beta of 0.42. The business’s fifty day simple moving average is $19.15 and its 200-day simple moving average is $20.30. Premier has a 12-month low of $17.95 and a 12-month high of $27.37.

Premier (NASDAQ:PINC) last issued its earnings results on Tuesday, May 7th. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.07. The business had revenue of $342.60 million during the quarter, compared to analysts’ expectations of $312.92 million. Premier had a return on equity of 11.71% and a net margin of 6.01%. On average, research analysts anticipate that Premier will post 1.96 EPS for the current year.

Insider Transactions at Premier

In related news, CEO Michael J. Alkire sold 2,625 shares of the firm’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $20.00, for a total transaction of $52,500.00. Following the completion of the transaction, the chief executive officer now owns 580,073 shares of the company’s stock, valued at $11,601,460. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Michael J. Alkire sold 2,625 shares of the firm’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $20.00, for a total transaction of $52,500.00. Following the sale, the chief executive officer now directly owns 580,073 shares in the company, valued at approximately $11,601,460. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Andy Brailo sold 8,331 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $19.64, for a total value of $163,620.84. Following the completion of the sale, the insider now directly owns 119,203 shares in the company, valued at $2,341,146.92. The disclosure for this sale can be found here. Insiders sold a total of 157,846 shares of company stock worth $3,099,352 over the last three months. 0.85% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on PINC shares. Robert W. Baird cut their target price on shares of Premier from $25.00 to $22.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 8th. Piper Sandler lowered their target price on Premier from $24.00 to $22.00 and set a “neutral” rating for the company in a report on Wednesday, May 8th. JPMorgan Chase & Co. cut their price target on Premier from $23.00 to $21.00 and set a “neutral” rating on the stock in a report on Tuesday, May 28th. Canaccord Genuity Group downgraded Premier from a “buy” rating to a “hold” rating and dropped their price objective for the company from $27.00 to $21.00 in a research report on Wednesday, May 8th. Finally, Canaccord Genuity Group reiterated a “hold” rating and issued a $21.00 target price (down from $27.00) on shares of Premier in a report on Wednesday, May 8th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $23.50.

Premier Company Profile

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.