Brokerages Set Premier, Inc. (NASDAQ:PINC) Target Price at $20.50

Shares of Premier, Inc. (NASDAQ:PINC) have been given a consensus rating of “Hold” by the nine analysts that are currently covering the stock, MarketBeat.com reports. Nine investment analysts have rated the stock with a hold rating. The average 12-month price target among brokers that have covered the stock in the last year is $20.50.

A number of research analysts have recently issued reports on PINC shares. Barclays boosted their target price on Premier from $20.00 to $24.00 and gave the company an “equal weight” rating in a report on Wednesday, November 6th. Robert W. Baird dropped their price objective on Premier from $20.00 to $19.00 and set a “neutral” rating on the stock in a report on Wednesday, February 5th. Piper Sandler dropped their price objective on Premier from $21.00 to $19.00 and set a “neutral” rating on the stock in a report on Wednesday, February 5th. Canaccord Genuity Group dropped their price objective on Premier from $21.00 to $19.00 and set a “hold” rating on the stock in a report on Wednesday, February 5th. Finally, StockNews.com lowered Premier from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th.

Insider Activity

In related 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 transaction, the director now directly owns 20,668 shares in the company, valued at approximately $442,708.56. This represents a 10.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John T. Bigalke sold 1,136 shares of the company’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $22.19, for a total value of $25,207.84. Following the completion of the transaction, the director now owns 23,846 shares of the company’s stock, valued at $529,142.74. The trade was a 4.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 42,010 shares of company stock worth $916,911 over the last three months. 0.96% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PINC. Brooklyn Investment Group lifted its stake in shares of 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 purchasing an additional 1,235 shares in the last quarter. SRS Capital Advisors Inc. grew its position in Premier by 157.8% in the fourth 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 in the last quarter. Keystone Financial Group Inc. acquired a new stake in Premier in the fourth quarter valued at approximately $37,000. Wilmington Savings Fund Society FSB acquired a new stake in Premier in the third quarter valued at 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 valued at $40,000 after acquiring an additional 1,427 shares in the last quarter. 74.41% of the stock is owned by institutional investors and hedge funds.

Premier Stock Down 0.5 %

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

Premier Announces Dividend

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