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

Shares of Premier, Inc. (NASDAQ:PINC) have been assigned a consensus recommendation of “Hold” from the seven brokerages that are covering the company, MarketBeat reports. Seven analysts have rated the stock with a hold recommendation. The average 1-year price objective among brokerages that have covered the stock in the last year is $20.17.

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

Premier Stock Performance

Shares of PINC opened at $18.95 on Wednesday. Premier has a 1 year low of $17.23 and a 1 year high of $23.56. The firm has a fifty day moving average of $19.51 and a 200-day moving average of $20.49. The company has a market cap of $1.73 billion, a price-to-earnings ratio of -189.48 and a beta of 0.39.

Premier Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st were given a $0.21 dividend. The ex-dividend date was Friday, February 28th. This represents a $0.84 dividend on an annualized basis and a yield of 4.43%. Premier’s dividend payout ratio (DPR) is -840.00%.

Insider Buying and Selling at Premier

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 value of $53,550.00. Following the completion of the sale, the director now owns 20,668 shares in the company, valued at $442,708.56. This represents a 10.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.96% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Brooklyn Investment Group boosted its position 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 valued at $26,000 after purchasing an additional 1,235 shares in the last quarter. SRS Capital Advisors Inc. raised its holdings in shares of Premier by 157.8% in the 4th quarter. SRS Capital Advisors Inc. now owns 1,284 shares of the company’s stock worth $27,000 after purchasing an additional 786 shares in the last quarter. Keystone Financial Group Inc. acquired a new stake in Premier during the fourth quarter valued at approximately $37,000. Wilmington Savings Fund Society FSB bought a new stake in Premier during the third quarter worth approximately $39,000. Finally, Smartleaf Asset Management LLC grew its position in Premier by 297.9% in the fourth 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 owned by institutional investors and hedge funds.

Premier 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.