Brokerages Set Premier, Inc. (NASDAQ:PINC) Price Target at $20.17

Shares of Premier, Inc. (NASDAQ:PINC) have been given an average rating of “Hold” by the seven research firms that are presently covering the stock, Marketbeat.com reports. Seven analysts have rated the stock with a hold rating. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $20.17.

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

Premier Stock Down 0.7 %

NASDAQ PINC opened at $18.95 on Wednesday. Premier has a fifty-two week low of $17.23 and a fifty-two week high of $23.56. The business has a 50 day moving average price of $19.51 and a two-hundred day moving average price of $20.49. The stock has a market cap of $1.73 billion, a PE ratio of -189.48 and a beta of 0.39.

Premier Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Saturday, March 15th. Investors of record on Saturday, March 1st were paid a $0.21 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.84 dividend on an annualized basis and a yield of 4.43%. Premier’s dividend payout ratio (DPR) is -840.00%.

Insider Activity at Premier

In other news, Director Helen M. Boudreau sold 2,500 shares of Premier 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 completion of the transaction, the director now owns 20,668 shares in the company, valued at approximately $442,708.56. This trade represents a 10.79 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.96% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Premier

Several large investors have recently added to or reduced their stakes in PINC. State Street Corp raised its holdings in shares of Premier by 0.8% during the third quarter. State Street Corp now owns 3,973,582 shares of the company’s stock worth $79,472,000 after purchasing an additional 32,193 shares during the period. American Century Companies Inc. grew 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 buying an additional 104,452 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Premier by 4.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,813,408 shares of the company’s stock worth $38,444,000 after acquiring an additional 71,624 shares during the period. Brandes Investment Partners LP lifted its holdings in Premier by 123.1% in the fourth 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 last quarter. Finally, Bridgeway Capital Management LLC boosted its stake in Premier by 3.0% in the fourth 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 during the period. 74.41% of the stock is currently owned by 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.