Premier, Inc. (NASDAQ:PINC) Receives $20.50 Average Price Target from Analysts

Shares of Premier, Inc. (NASDAQ:PINC) have been assigned a consensus rating of “Hold” from the nine analysts that are presently covering the stock, Marketbeat reports. Nine investment analysts have rated the stock with a hold rating. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $20.50.

Several brokerages have recently weighed in on PINC. Piper Sandler reduced their target price on Premier from $21.00 to $19.00 and set a “neutral” rating for the company in a research note on Wednesday, February 5th. Robert W. Baird reduced their target price on 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 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. StockNews.com downgraded Premier from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th. Finally, Barclays raised their price objective on Premier from $20.00 to $24.00 and gave the company an “equal weight” rating in a report on Wednesday, November 6th.

Insiders Place Their Bets

In related news, Director John T. Bigalke sold 1,136 shares of the firm’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $22.19, for a total transaction of $25,207.84. Following the completion of the sale, the director now directly owns 23,846 shares of the company’s stock, valued at approximately $529,142.74. This trade represents a 4.55 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael J. Alkire sold 18,374 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $21.80, for a total value of $400,553.20. Following the sale, 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. Insiders sold 42,010 shares of company stock valued at $916,911 in the last three months. 0.96% of the stock is currently owned by insiders.

Institutional Trading of Premier

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Van ECK Associates Corp boosted its holdings in Premier by 28.0% during the 4th quarter. Van ECK Associates Corp now owns 2,041 shares of the company’s stock valued at $43,000 after acquiring an additional 446 shares during the period. Y Intercept Hong Kong Ltd boosted its holdings in Premier by 2.4% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 20,409 shares of the company’s stock valued at $408,000 after acquiring an additional 478 shares during the period. SRS Capital Advisors Inc. boosted its holdings in Premier by 157.8% during the 4th quarter. SRS Capital Advisors Inc. now owns 1,284 shares of the company’s stock valued at $27,000 after acquiring an additional 786 shares during the period. Impact Partnership Wealth LLC boosted its holdings in Premier by 7.1% during the 3rd quarter. Impact Partnership Wealth LLC now owns 11,945 shares of the company’s stock valued at $239,000 after acquiring an additional 795 shares during the period. Finally, QRG Capital Management Inc. boosted its holdings in Premier by 6.7% during the 3rd quarter. QRG Capital Management Inc. now owns 18,657 shares of the company’s stock valued at $373,000 after acquiring an additional 1,171 shares during the period. 74.41% of the stock is owned by institutional investors and hedge funds.

Premier Price Performance

Shares of PINC stock opened at $18.51 on Friday. The company has a market cap of $1.69 billion, a price-to-earnings ratio of -185.08 and a beta of 0.43. The stock has a 50 day simple moving average of $20.80 and a 200-day simple moving average of $20.77. Premier has a 1-year low of $17.69 and a 1-year high of $23.56.

Premier Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.54%. The ex-dividend date of this dividend is Friday, February 28th. Premier’s dividend payout ratio (DPR) 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.