Short Interest in Premier, Inc. (NASDAQ:PINC) Decreases By 13.2%

Premier, Inc. (NASDAQ:PINC) saw a large decrease in short interest during the month of March. As of March 15th, there was short interest totalling 16,430,000 shares, a decrease of 13.2% from the February 28th total of 18,930,000 shares. Based on an average trading volume of 1,500,000 shares, the days-to-cover ratio is presently 11.0 days. Currently, 18.3% of the company’s shares are short sold.

Insider Activity

In related news, Director Helen M. Boudreau sold 2,500 shares of the stock in a transaction dated 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 transaction, the director now owns 20,668 shares of the company’s stock, valued at approximately $442,708.56. This represents a 10.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.96% of the company’s stock.

Institutional Investors Weigh In On Premier

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State Street Corp increased its stake in shares of Premier by 0.8% in the third quarter. State Street Corp now owns 3,973,582 shares of the company’s stock worth $79,472,000 after acquiring an additional 32,193 shares during the last quarter. American Century Companies Inc. grew its stake in Premier by 4.2% in the fourth quarter. American Century Companies Inc. now owns 2,598,731 shares of the company’s stock valued at $55,093,000 after purchasing an additional 104,452 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Premier by 4.1% in 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 during the last quarter. Brandes Investment Partners LP raised its stake 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 lifted its holdings 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 valued at $16,162,000 after buying an additional 21,861 shares during the last quarter. Hedge funds and other institutional investors own 74.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Canaccord Genuity Group decreased their target price on Premier from $21.00 to $19.00 and set a “hold” rating for the company in a research note on Wednesday, February 5th. Robert W. Baird cut their target price on Premier from $20.00 to $19.00 and set a “neutral” rating for the company in a research report on Wednesday, February 5th. Finally, Piper Sandler lowered their price objective on shares of Premier from $21.00 to $19.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 5th. Eight research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Premier has a consensus rating of “Hold” and a consensus target price of $20.17.

Premier Price Performance

NASDAQ:PINC opened at $19.48 on Wednesday. The stock has a market cap of $1.78 billion, a PE ratio of -194.78 and a beta of 0.39. 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 $19.22 and its two-hundred day moving average is $20.47.

Premier Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st were paid a $0.21 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.84 annualized dividend and a yield of 4.31%. Premier’s dividend payout ratio is presently -840.00%.

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.