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

Premier, Inc. (NASDAQ:PINC) has received a consensus recommendation of “Hold” from the seven analysts that are presently covering the stock, Marketbeat.com reports. Seven analysts have rated the stock with a hold rating. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $20.17.

PINC has been the topic of several research reports. Canaccord Genuity Group dropped their target price on Premier from $21.00 to $19.00 and set a “hold” rating on the stock in a research report on Wednesday, February 5th. Robert W. Baird lowered their price objective on Premier from $20.00 to $19.00 and set a “neutral” rating on the stock in a report on Wednesday, February 5th. Finally, Piper Sandler lowered their price objective on Premier from $21.00 to $19.00 and set a “neutral” rating on the stock in a report on Wednesday, February 5th.

Premier Price Performance

Shares of PINC stock opened at $18.54 on Wednesday. Premier has a fifty-two week low of $17.23 and a fifty-two week high of $23.56. The stock’s 50-day moving average is $19.74 and its two-hundred day moving average is $20.55. The firm has a market cap of $1.69 billion, a P/E ratio of -185.38 and a beta of 0.39.

Premier Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 4.53%. The ex-dividend date was Friday, February 28th. Premier’s payout ratio is presently -840.00%.

Insider Transactions at Premier

In related news, COO Leigh Anderson sold 20,000 shares of the business’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $21.88, for a total value of $437,600.00. Following the sale, the chief operating officer now owns 111,707 shares of the company’s stock, valued at $2,444,149.16. The trade was a 15.19 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Helen M. Boudreau sold 2,500 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $21.42, for a total value of $53,550.00. Following the completion of the sale, the director now directly owns 20,668 shares in the company, valued at approximately $442,708.56. This represents a 10.79 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 23,637 shares of company stock valued at $511,093. 0.96% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Premier

Institutional investors have recently bought and sold shares of the business. Brooklyn Investment Group raised its position in Premier by 61,750.0% in the 4th quarter. Brooklyn Investment Group now owns 1,237 shares of the company’s stock valued at $26,000 after purchasing an additional 1,235 shares during the last quarter. SRS Capital Advisors Inc. raised its position in Premier by 157.8% in the 4th quarter. SRS Capital Advisors Inc. now owns 1,284 shares of the company’s stock valued at $27,000 after purchasing an additional 786 shares during the last quarter. Keystone Financial Group Inc. bought a new stake in shares of Premier during the fourth quarter worth $37,000. Smartleaf Asset Management LLC raised its position in shares of Premier by 297.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,906 shares of the company’s stock worth $40,000 after acquiring an additional 1,427 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Premier during the third quarter worth $39,000. Institutional investors own 74.41% of the company’s stock.

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.