Premier, Inc. (NASDAQ:PINC) Receives $20.17 Average Price Target from Analysts

Shares of Premier, Inc. (NASDAQ:PINC) have earned a consensus rating of “Hold” from the seven analysts that are presently covering the firm, MarketBeat.com reports. Seven research analysts have rated the stock with a hold rating. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $20.17.

A number of equities research analysts recently issued reports on PINC shares. Robert W. Baird reduced their target price on Premier from $20.00 to $19.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 5th. Piper Sandler reduced their target price on Premier from $21.00 to $19.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 5th. Finally, Canaccord Genuity Group reduced their target price on Premier from $21.00 to $19.00 and set a “hold” rating on the stock in a research note on Wednesday, February 5th.

Premier Stock Performance

PINC stock opened at $18.55 on Wednesday. Premier has a 1 year low of $17.23 and a 1 year high of $23.56. The stock’s 50 day moving average price is $19.60 and its 200 day moving average price is $20.51. The firm has a market cap of $1.69 billion, a P/E ratio of -185.48 and a beta of 0.39.

Premier Dividend Announcement

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

Insiders Place Their Bets

In other news, Director Helen M. Boudreau sold 2,500 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $21.42, for a total transaction of $53,550.00. Following the completion of the sale, the director now directly owns 20,668 shares in the company, valued at $442,708.56. This represents a 10.79 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.96% of the company’s stock.

Institutional Trading of Premier

Institutional investors and hedge funds have recently made changes to their positions in the company. Brooklyn Investment Group increased its holdings in shares of Premier by 61,750.0% during the 4th quarter. Brooklyn Investment Group now owns 1,237 shares of the company’s stock worth $26,000 after buying an additional 1,235 shares during the last quarter. SRS Capital Advisors Inc. increased its holdings in shares of Premier by 157.8% during the 4th quarter. SRS Capital Advisors Inc. now owns 1,284 shares of the company’s stock worth $27,000 after buying an additional 786 shares during the last quarter. Keystone Financial Group Inc. acquired a new stake in shares of Premier during the 4th quarter worth $37,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Premier during the 3rd quarter worth $39,000. Finally, Smartleaf Asset Management LLC increased its holdings in shares of Premier by 297.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,906 shares of the company’s stock worth $40,000 after buying an additional 1,427 shares during 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.