Premier, Inc. (NASDAQ:PINC) Given Average Recommendation of “Hold” by Brokerages

Premier, Inc. (NASDAQ:PINC) has received an average recommendation of “Hold” from the seven research firms that are covering the firm, MarketBeat Ratings reports. Seven analysts have rated the stock with a hold recommendation. The average twelve-month target price among brokerages that have covered the stock in the last year is $20.17.

A number of research firms have recently weighed in on PINC. Canaccord Genuity Group reduced their price target on shares of Premier from $21.00 to $19.00 and set a “hold” rating on the stock in a research note on Wednesday, February 5th. Robert W. Baird cut their target price on shares of Premier from $20.00 to $19.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 5th. Finally, Piper Sandler lowered their price target on shares of Premier from $21.00 to $19.00 and set a “neutral” rating for the company in a report on Wednesday, February 5th.

Premier Stock Up 0.1 %

NASDAQ:PINC opened at $19.33 on Friday. Premier has a twelve month low of $17.23 and a twelve month high of $23.56. The stock’s 50-day simple moving average is $18.69 and its 200 day simple moving average is $20.40. The firm has a market capitalization of $1.76 billion, a PE ratio of -193.28 and a beta of 0.51.

Premier Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st were issued 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 dividend yield of 4.35%. Premier’s dividend payout ratio (DPR) is presently -840.00%.

Insider Buying and Selling

In other Premier news, General Counsel David L. Klatsky sold 10,000 shares of Premier stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $19.53, for a total transaction of $195,300.00. Following the transaction, the general counsel now directly owns 90,597 shares of the company’s stock, valued at approximately $1,769,359.41. The trade was a 9.94 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.96% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Premier

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Brooklyn Investment Group raised its holdings in Premier by 61,750.0% during the 4th quarter. Brooklyn Investment Group now owns 1,237 shares of the company’s stock worth $26,000 after purchasing an additional 1,235 shares during the last quarter. SRS Capital Advisors Inc. increased its position in shares of Premier by 157.8% during the fourth quarter. SRS Capital Advisors Inc. now owns 1,284 shares of the company’s stock worth $27,000 after buying an additional 786 shares during the period. Keystone Financial Group Inc. bought a new position in Premier during the fourth quarter worth $37,000. Wilmington Savings Fund Society FSB acquired a new position in Premier in the third quarter valued at $39,000. Finally, Smartleaf Asset Management LLC lifted its holdings 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 buying an additional 1,427 shares during the period. 74.41% of the stock is 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.