In yesterday’s Wall Street session, Premier Inc. (NASDAQ:PINC) shares traded at $21.50, down -1.51% from the previous session.
PINC stock price is now -16.14% away from the 50-day moving average and -27.77% away from the 200-day moving average. The market capitalization of the company currently stands at $2.55B.
With the price target reduced from $44 to $25, Piper Sandler Downgraded its rating from Overweight to Neutral for Premier Inc. (NASDAQ: PINC).
Insiders disposed of 197,924 shares of company stock worth roughly $4.26 million over the past 1 year. A total of 0.90% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in PINC stock. A new stake in Premier Inc. shares was purchased by BALYASNY ASSET MANAGEMENT L.P. during the first quarter worth $15,615,000. SEGALL BRYANT & HAMILL, LLC invested $12,513,000 in shares of PINC during the first quarter. In the first quarter, FRESHFORD CAPITAL MANAGEMENT, LLC acquired a new stake in Premier Inc. valued at approximately $7,311,000. WESTWOOD HOLDINGS GROUP INC acquired a new stake in PINC for approximately $3,795,000. TWINBEECH CAPITAL LP purchased a new stake in PINC valued at around $2,166,000 in the second quarter. In total, there are 388 active investors with 70.60% ownership of the company’s stock.
Thursday morning saw Premier Inc. (NASDAQ: PINC) opened at $21.98. During the past 12 months, Premier Inc. has had a low of $21.05 and a high of $35.57. As of last week, the company has a debt-to-equity ratio of 0.18, a current ratio of 0.80, and a quick ratio of 0.70. According to the stock market information, the enterprise value for the company is $2.95B, which is based on a 14.72 price-to-earnings ratio, a 2.58 price-to-earnings-growth ratio, and a beta of 0.33. The fifty day moving average price for PINC is $25.52 and a two-hundred day moving average price translates $29.71 for the stock.
The latest earnings results from Premier Inc. (NASDAQ: PINC) was released for Jun, 2023. According to the Health Information Services Company, earnings per share came in at $0.68, beating analysts’ expectations of $0.66 by 0.02. This compares to $0.27 EPS in the same period last year. The net profit margin was 13.10% and return on equity was 7.60% for PINC. The company reported revenue of $340.36 million for the quarter, compared to $340.71 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -0.1 percent. For the current quarter, analysts expect PINC to generate $320.16M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 09/15/2023. Investors who held shares on 09/01/2023 were paid a $0.21 dividend. On an annualized basis, this represents a $0.84 dividend and a 3.91% percent yield. There was an ex-dividend date of 08/31/2023 for this dividend. In terms of dividend payout ratio, PINC is presently at 56.30%.
Premier Inc.(PINC) 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. This segment also provides the ASCENDrive programs for members to receive group purchasing programs, tiers, and prices; SURPASS Performance Group services; and STOCKD, an e-commerce platform, as well as direct sourcing business; SaaS informatics products; supply chain co-management services; purchased services contracts; direct sourcing solutions; and supply chain resiliency programs. The Performance Services segment provides technology and services platform with offerings that help optimize performance in three main areas, including clinical intelligence, margin improvement, and value-based care under the PINC AI brand; third party administrator services and management of health benefit programs under the Contigo Health brand; and digital invoicing and payables services that offers financial support services to healthcare product suppliers and service providers under the Remitra brand. The company was incorporated in 2013 and is based in Charlotte, North Carolina.
