Piper Sandler Issues Positive Forecast for Premier (NASDAQ:PINC) Stock Price

Premier (NASDAQ:PINC) had its price objective upped by Piper Sandler from $24.00 to $28.00 in a research note released on Monday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other equities analysts have also weighed in on the stock. UBS Group increased their price objective on shares of Premier from $23.00 to $26.00 and gave the company a “neutral” rating in a report on Wednesday, August 20th. Bank of America increased their target price on shares of Premier from $19.00 to $21.00 and gave the stock an “underperform” rating in a report on Tuesday, August 19th. Canaccord Genuity Group increased their target price on shares of Premier from $22.00 to $25.00 and gave the stock a “hold” rating in a report on Wednesday, August 20th. Robert W. Baird increased their target price on shares of Premier from $22.00 to $27.00 and gave the stock a “neutral” rating in a report on Wednesday, August 20th. Finally, Leerink Partners increased their target price on shares of Premier from $24.00 to $26.00 and gave the stock a “market perform” rating in a report on Tuesday, August 19th. Seven equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus price target of $24.50.

Premier Price Performance

PINC opened at $25.70 on Monday. Premier has a one year low of $17.23 and a one year high of $27.26. The company’s 50 day simple moving average is $22.36 and its 200-day simple moving average is $20.97. The stock has a market capitalization of $2.12 billion, a P/E ratio of 116.82 and a beta of 0.56.

Premier Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 1st will be given a $0.21 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.84 dividend on an annualized basis and a yield of 3.3%. Premier’s dividend payout ratio (DPR) is 381.82%.

Insider Transactions at Premier

In other news, Director John T. Bigalke sold 1,137 shares of the firm’s stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $23.03, for a total transaction of $26,185.11. Following the completion of the sale, the director owned 28,673 shares in the company, valued at approximately $660,339.19. This trade represents a 3.81% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Helen M. Boudreau sold 2,000 shares of Premier stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $22.88, for a total transaction of $45,760.00. Following the completion of the sale, the director owned 18,668 shares of the company’s stock, valued at $427,123.84. This trade represents a 9.68% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.96% of the company’s stock.

Hedge Funds Weigh In On Premier

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Raymond James Financial Inc. bought a new stake in shares of Premier during the 4th quarter valued at approximately $286,000. Mariner LLC bought a new stake in Premier during the 4th quarter worth approximately $282,000. Marshall Wace LLP lifted its position in shares of Premier by 134.2% in the 4th quarter. Marshall Wace LLP now owns 64,923 shares of the company’s stock worth $1,376,000 after purchasing an additional 37,196 shares during the period. Susquehanna International Group LLP lifted its position in shares of Premier by 66.3% in the 4th quarter. Susquehanna International Group LLP now owns 110,955 shares of the company’s stock worth $2,352,000 after purchasing an additional 44,224 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Premier by 6.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 64,899 shares of the company’s stock worth $1,376,000 after purchasing an additional 3,959 shares during the period. 74.41% of the stock is currently owned by institutional investors and hedge funds.

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.