Premier Inc. (NASDAQ: PINC) stock fell -1.51% on Thursday to $21.50 against a previous-day closing price of $21.83. With 3.86 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.99 million shares. During the session, the Health Information Services company that operates in wider Healthcare sector, reached to the highest price of $22.26 whereas the lowest price it dropped to was $21.41. The 52-week range on PINC shows that it touched its highest point at $35.57 and its lowest point at $21.05 during that stretch. It currently has a 1-year price target of $27.89. With its current market cap of 2.55 billion, PINC has annualized dividend of $0.84 while the current yield stands at 3.91%. Beta for the stock currently stands at 0.33.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of PINC was down-trending over the past week, with a drop of -6.76%, but this was down by -18.62% over a month. Three-month performance dropped to -16.83% while six-month performance fell -31.59%. The stock lost -38.71% in the past year, while it has lost -38.54% so far this year. A look at the trailing 12-month EPS for PINC yields 1.46 with Next year EPS estimates of 2.37. For the next quarter, that number is 0.51. This implies an EPS growth rate of -33.20% for this year and 4.69% for next year. EPS is expected to grow by 5.70% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -13.00%.
Float and Shares Shorts:
At present, 119.06 million PINC shares are outstanding with a float of 118.53 million shares on hand for trading. On Aug 30, 2023, short shares totaled 2.1 million, which was 1.77% higher than short shares on Jul 30, 2023. In addition to Mr. Michael J. Alkire as the firm’s Pres, CEO & Director, Mr. Craig Steven McKasson serves as its Chief Admin. Officer, CFO, Sr. VP & Treasurer.
Through their ownership of 69.30% of PINC’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 39.54% of PINC, in contrast to 29.36% held by mutual funds. Shares owned by individuals account for 2.09%. As the largest shareholder in PINC with 10.24% of the stake, The Vanguard Group, Inc. holds 12,187,181 shares worth 12,187,181. A second-largest stockholder of PINC, BlackRock Fund Advisors, holds 4,863,865 shares, controlling over 4.09% of the firm’s shares. Dimensional Fund Advisors LP is the third largest shareholder in PINC, holding 4,099,106 shares or 3.44% stake. With a 3.11% stake in PINC, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 3,705,215 shares are owned by the mutual fund manager. The Mackenzie US Mid Cap Growth Class, which owns about 2.76% of PINC stock, is the second-largest Mutual Fund holder. It holds 3,287,801 shares valued at 91.24 million. Vanguard Small Cap Index Fund holds 2.59% of the stake in PINC, owning 3,089,163 shares worth 85.72 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, PINC reported revenue of $340.71M and operating income of $53.01M. The EBITDA in the recently reported quarter was $85.22M and diluted EPS was $0.25.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for PINC since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With PINC analysts setting a high price target of $32.00 and a low target of $24.00, the average target price over the next 12 months is $27.00. Based on these targets, PINC could surge 48.84% to reach the target high and rise by 11.63% to reach the target low. Reaching the average price target will result in a growth of 25.58% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Dividends & Yield:
In terms of dividends, PINC has a current ratio of $0.84, which is $0.84 over the trailing 12-months. Dividend yield is another indicator that appeals to many investors, and PINC currently yields $3.91. In the past year, PINC’s dividend yield has been $3.91. Accordingly, PINC has a current buyback yield of $0.0. This was $0.0 for the TTM, and it was $5.50 for the past five years.
Summary of Insider Activity:
Insiders traded PINC stock several times over the past three months with 1 Buys and 1 Sells. In these transactions, 197,401 shares were bought while 192,068 shares were sold. The number of buy transactions has increased to 13 while that of sell transactions has risen to 4 over the past year. The total number of shares bought during that period was 266,346 while 197,924 shares were sold.