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

Shares of Premier, Inc. (NASDAQ:PINC) have been assigned an average rating of “Hold” from the seven analysts that are presently covering the firm, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a hold rating. The average 12-month target price among analysts that have covered the stock in the last year is $20.17.

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

Insider Transactions at Premier

In other news, Director Helen M. Boudreau sold 2,500 shares of Premier stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $21.42, for a total transaction of $53,550.00. Following the sale, the director now directly owns 20,668 shares in the company, valued at approximately $442,708.56. The trade was a 10.79 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John T. Bigalke sold 1,136 shares of Premier stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $22.19, for a total transaction of $25,207.84. Following the sale, the director now owns 23,846 shares in the company, valued at approximately $529,142.74. This trade represents a 4.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 42,010 shares of company stock worth $916,911. 0.96% of the stock is currently owned by company insiders.

Institutional Trading of Premier

Several institutional investors have recently made changes to their positions in the business. State Street Corp boosted its position in shares of Premier by 0.8% during the 3rd quarter. State Street Corp now owns 3,973,582 shares of the company’s stock valued at $79,472,000 after acquiring an additional 32,193 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Premier by 4.2% during the 4th quarter. American Century Companies Inc. now owns 2,598,731 shares of the company’s stock valued at $55,093,000 after acquiring an additional 104,452 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Premier by 4.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,813,408 shares of the company’s stock valued at $38,444,000 after acquiring an additional 71,624 shares in the last quarter. Brandes Investment Partners LP boosted its position in shares of Premier by 123.1% during the 4th quarter. Brandes Investment Partners LP now owns 842,326 shares of the company’s stock valued at $17,857,000 after acquiring an additional 464,710 shares in the last quarter. Finally, Bridgeway Capital Management LLC boosted its position in shares of Premier by 3.0% during the 4th quarter. Bridgeway Capital Management LLC now owns 762,337 shares of the company’s stock valued at $16,162,000 after acquiring an additional 21,861 shares in the last quarter. 74.41% of the stock is currently owned by institutional investors and hedge funds.

Premier Trading Up 0.8 %

PINC stock opened at $18.18 on Friday. Premier has a 1 year low of $17.69 and a 1 year high of $23.56. The company has a fifty day simple moving average of $20.62 and a 200 day simple moving average of $20.72. The firm has a market cap of $1.66 billion, a PE ratio of -181.78 and a beta of 0.43.

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 issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.84 annualized dividend and a dividend yield of 4.62%. Premier’s payout ratio is -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.