Premier, Inc. (NASDAQ:PINC) Given Average Recommendation of “Hold” by Brokerages

Premier, Inc. (NASDAQ:PINC) has received a consensus rating of “Hold” from the nine research firms that are covering the stock, MarketBeat Ratings reports. Nine research analysts have rated the stock with a hold rating. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $20.50.

Several research analysts have recently issued reports on PINC shares. Barclays upped their price target on shares of Premier from $20.00 to $24.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 6th. StockNews.com downgraded shares of Premier from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th. Robert W. Baird lowered their price target on shares of Premier from $20.00 to $19.00 and set a “neutral” rating for the company in a report on Wednesday, February 5th. Piper Sandler lowered their price target on shares of Premier from $21.00 to $19.00 and set a “neutral” rating for the company in a report on Wednesday, February 5th. Finally, Canaccord Genuity Group lowered their price target on shares of Premier from $21.00 to $19.00 and set a “hold” rating for the company in a report on Wednesday, February 5th.

Premier Price Performance

NASDAQ PINC opened at $18.61 on Friday. The business has a fifty day moving average price of $20.87 and a two-hundred day moving average price of $20.77. Premier has a fifty-two week low of $17.69 and a fifty-two week high of $23.56. The stock has a market capitalization of $1.70 billion, a PE ratio of -186.08 and a beta of 0.43.

Premier Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 15th. Investors of record on Saturday, March 1st will be issued a $0.21 dividend. The ex-dividend date is Friday, February 28th. This represents a $0.84 dividend on an annualized basis and a yield of 4.51%. Premier’s payout ratio is -839.92%.

Insider Activity at Premier

In other Premier news, COO Leigh Anderson sold 20,000 shares of the stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $21.88, for a total transaction of $437,600.00. Following the completion of the sale, the chief operating officer now directly owns 111,707 shares in the company, valued at approximately $2,444,149.16. This trade represents a 15.19 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John T. Bigalke sold 1,136 shares of the stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $22.19, for a total value of $25,207.84. Following the sale, the director now owns 23,846 shares of the company’s stock, valued at approximately $529,142.74. The trade was a 4.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 42,010 shares of company stock worth $916,911 over the last three months. Company insiders own 0.96% of the company’s stock.

Institutional Trading of Premier

Large investors have recently bought and sold shares of the business. State Street Corp boosted its position in shares of Premier by 0.8% during the 3rd quarter. State Street Corp now owns 3,973,582 shares of the company’s stock worth $79,472,000 after purchasing an additional 32,193 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Premier by 4.2% during the 4th quarter. American Century Companies Inc. now owns 2,598,731 shares of the company’s stock worth $55,093,000 after purchasing an additional 104,452 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Premier by 4.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,813,408 shares of the company’s stock worth $38,444,000 after purchasing an additional 71,624 shares in the last quarter. Brandes Investment Partners LP boosted its position in shares of Premier by 123.1% during the 4th quarter. Brandes Investment Partners LP now owns 842,326 shares of the company’s stock worth $17,857,000 after purchasing an additional 464,710 shares in the last quarter. Finally, Bridgeway Capital Management LLC boosted its position in shares of Premier by 3.0% during the 4th quarter. Bridgeway Capital Management LLC now owns 762,337 shares of the company’s stock worth $16,162,000 after purchasing an additional 21,861 shares in the last quarter. 74.41% of the stock is currently owned by institutional investors and hedge funds.

About Premier

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.