Premier, Inc. (NASDAQ:PINC) Receives $20.17 Average Target Price from Analysts

Shares of Premier, Inc. (NASDAQ:PINC) have been assigned a consensus recommendation of “Hold” from the seven research firms that are covering the stock, Marketbeat reports. Seven analysts have rated the stock with a hold rating. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $20.17.

A number of research analysts have commented on PINC shares. Canaccord Genuity Group decreased 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. Piper Sandler lowered their price target on shares of Premier from $21.00 to $19.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 5th. Finally, Robert W. Baird dropped their price objective 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.

Insider Activity

In other news, General Counsel David L. Klatsky sold 10,000 shares of Premier stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $19.53, for a total value of $195,300.00. Following the transaction, the general counsel now owns 90,597 shares in the company, valued at approximately $1,769,359.41. This trade represents a 9.94 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.96% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PINC. Van ECK Associates Corp boosted its stake in shares of Premier by 28.0% in the 4th quarter. Van ECK Associates Corp now owns 2,041 shares of the company’s stock valued at $43,000 after purchasing an additional 446 shares in the last quarter. Y Intercept Hong Kong Ltd lifted its stake in Premier by 2.4% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 20,409 shares of the company’s stock valued at $408,000 after purchasing an additional 478 shares during the last quarter. SRS Capital Advisors Inc. boosted 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 buying an additional 786 shares in the last quarter. Brooklyn Investment Group grew 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 buying an additional 1,235 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in shares of Premier by 40.4% during the fourth quarter. Russell Investments Group Ltd. now owns 4,371 shares of the company’s stock worth $93,000 after buying an additional 1,257 shares in the last quarter. Institutional investors own 74.41% of the company’s stock.

Premier Trading Down 0.4 %

Premier stock opened at $19.45 on Friday. The company has a market capitalization of $1.78 billion, a price-to-earnings ratio of -194.48 and a beta of 0.51. Premier has a 12 month low of $17.23 and a 12 month high of $23.56. The stock’s 50 day moving average is $18.65 and its 200-day moving average is $20.41.

Premier Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st were paid a dividend of $0.21 per share. The ex-dividend date was Friday, February 28th. This represents a $0.84 dividend on an annualized basis and a yield of 4.32%. Premier’s payout ratio is -840.00%.

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.