Premier (NASDAQ:PINC) Sets New 1-Year Low – Time to Sell?

Premier, Inc. (NASDAQ:PINC)’s stock price reached a new 52-week low during trading on Thursday . The stock traded as low as $17.91 and last traded at $17.96, with a volume of 27307 shares trading hands. The stock had previously closed at $18.02.

Analyst Ratings Changes

A number of analysts have issued reports on PINC shares. Canaccord Genuity Group decreased their price target on Premier from $21.00 to $19.00 and set a “hold” rating for the company in a report on Wednesday, February 5th. Barclays boosted their target price on Premier from $20.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 6th. Robert W. Baird dropped their price target on shares of Premier from $20.00 to $19.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 5th. StockNews.com downgraded shares of Premier from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. Finally, 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 research report on Wednesday, February 5th. Ten research analysts have rated the stock with a hold rating, According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $20.50.

Premier Trading Up 0.6 %

The business’s fifty day moving average price is $21.35 and its 200 day moving average price is $20.89. The firm has a market capitalization of $1.74 billion, a price-to-earnings ratio of -181.28 and a beta of 0.43.

Premier Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st will be paid a $0.21 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.84 dividend on an annualized basis and a yield of 4.63%. Premier’s dividend payout ratio is presently -839.92%.

Insider Transactions at Premier

In other news, Director Helen M. Boudreau sold 2,500 shares of the business’s stock in a transaction that occurred 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 transaction, the director now owns 20,668 shares of the company’s stock, valued at approximately $442,708.56. The trade was a 10.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John T. Bigalke sold 1,136 shares of the company’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $22.19, for a total value of $25,207.84. Following the sale, the director now owns 23,846 shares of the company’s stock, valued at $529,142.74. This trade represents a 4.55 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 42,010 shares of company stock worth $916,911. Company insiders own 0.96% of the company’s stock.

Hedge Funds Weigh In On Premier

A number of hedge funds and other institutional investors have recently bought and sold shares of PINC. Brandes Investment Partners LP lifted its stake in shares of Premier by 123.1% in the 4th quarter. Brandes Investment Partners LP now owns 842,326 shares of the company’s stock worth $17,857,000 after acquiring an additional 464,710 shares during the period. Franklin Resources Inc. acquired a new stake in shares of Premier in the 4th quarter valued at approximately $5,275,000. Assenagon Asset Management S.A. lifted its holdings in shares of Premier by 109.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 468,524 shares of the company’s stock valued at $9,933,000 after buying an additional 245,239 shares during the period. Invesco Ltd. boosted its stake in shares of Premier by 23.6% in the fourth quarter. Invesco Ltd. now owns 719,597 shares of the company’s stock valued at $15,255,000 after buying an additional 137,306 shares in the last quarter. Finally, ExodusPoint Capital Management LP raised its position in Premier by 408.4% in the fourth quarter. ExodusPoint Capital Management LP now owns 169,458 shares of the company’s stock worth $3,593,000 after acquiring an additional 136,129 shares in the last quarter. 74.41% of the stock is currently owned by hedge funds and other institutional investors.

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.