Analysts Set Premier, Inc. (NASDAQ:PINC) PT at $20.50

Premier, Inc. (NASDAQ:PINC) has earned an average recommendation of “Hold” from the seven analysts that are currently covering the company, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a hold rating. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $20.17.

PINC has been the topic of several recent analyst reports. StockNews.com downgraded shares of Premier from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th. Robert W. Baird decreased 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. Barclays lifted their price objective on shares of Premier from $20.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 6th. Canaccord Genuity Group cut 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. Finally, Piper Sandler lowered their price target on Premier from $21.00 to $19.00 and set a “neutral” rating for the company in a research report on Wednesday, February 5th.

Premier Stock Performance

Premier stock opened at $18.22 on Friday. The stock has a market cap of $1.66 billion, a PE ratio of -182.18 and a beta of 0.43. The stock has a 50-day moving average of $20.69 and a two-hundred day moving average of $20.74. Premier has a one year low of $17.69 and a one year high of $23.56.

Premier Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 15th. Investors of record on Saturday, March 1st will be given a dividend of $0.21 per share. The ex-dividend date is Friday, February 28th. This represents a $0.84 dividend on an annualized basis and a yield of 4.61%. Premier’s dividend payout ratio is presently -840.00%.

Insider Buying and Selling at Premier

In related news, Director Helen M. Boudreau sold 2,500 shares of Premier stock in a transaction that occurred 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 transaction, the director now directly owns 20,668 shares in the company, valued at approximately $442,708.56. This trade represents a 10.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael J. Alkire sold 18,374 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $21.80, for a total value of $400,553.20. Following the completion of the transaction, the chief executive officer now directly owns 502,354 shares of the company’s stock, valued at $10,951,317.20. The trade was a 3.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 42,010 shares of company stock valued at $916,911. 0.96% of the stock is owned by insiders.

Hedge Funds Weigh In On Premier

Institutional investors have recently made changes to their positions in the company. Brooklyn Investment Group boosted its holdings in Premier by 61,750.0% during the fourth quarter. Brooklyn Investment Group now owns 1,237 shares of the company’s stock worth $26,000 after buying an additional 1,235 shares in the last quarter. SRS Capital Advisors Inc. boosted its stake 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 acquiring an additional 786 shares in the last quarter. Keystone Financial Group Inc. acquired a new stake in shares of Premier during the 4th quarter valued at about $37,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Premier during the 3rd quarter valued at about $39,000. Finally, Smartleaf Asset Management LLC increased its stake in shares of Premier by 297.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,906 shares of the company’s stock valued at $40,000 after purchasing an additional 1,427 shares in the last quarter. 74.41% of the stock is owned by hedge funds and other institutional investors.

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.