Premier (NASDAQ:PINC) Sets New 12-Month Low – What’s Next?

Premier, Inc. (NASDAQ:PINC) hit 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.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Canaccord Genuity Group decreased their price target on Premier from $21.00 to $19.00 and set a “hold” rating on the stock 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 on the stock in a research report on Wednesday, February 5th. Robert W. Baird dropped their target price on shares of Premier from $20.00 to $19.00 and set a “neutral” rating for the company in a report on Wednesday, February 5th. StockNews.com cut shares of Premier from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. Finally, Barclays increased their price target on shares of Premier from $20.00 to $24.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 6th. Ten analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $20.50.

Premier Price Performance

The stock has a market cap of $1.74 billion, a price-to-earnings ratio of -181.28 and a beta of 0.43. The stock’s 50-day moving average is $21.35 and its 200-day moving average is $20.89.

Premier Announces Dividend

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

Insider Buying and Selling

In other Premier news, Director John T. Bigalke sold 1,136 shares of Premier stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $22.19, for a total value of $25,207.84. Following the transaction, the director now owns 23,846 shares in the company, valued at $529,142.74. This trade represents a 4.55 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael J. Alkire sold 18,374 shares of the business’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $21.80, for a total value of $400,553.20. Following the sale, the chief executive officer now directly owns 502,354 shares of the company’s stock, valued at approximately $10,951,317.20. This trade represents a 3.53 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 42,010 shares of company stock worth $916,911. 0.96% of the stock is owned by company insiders.

Institutional Investors Weigh In On Premier

Institutional investors and hedge funds have recently modified their holdings of the stock. State Street Corp grew its position in Premier by 0.8% in the third 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 stake in shares of Premier by 4.2% in the fourth quarter. American Century Companies Inc. now owns 2,598,731 shares of the company’s stock valued at $55,093,000 after purchasing an additional 104,452 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in 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 purchasing an additional 71,624 shares in the last quarter. Brandes Investment Partners LP increased its stake in Premier by 123.1% during the 4th quarter. Brandes Investment Partners LP now owns 842,326 shares of the company’s stock worth $17,857,000 after buying an additional 464,710 shares during the period. Finally, Invesco Ltd. lifted its holdings in Premier by 23.6% in the 4th quarter. Invesco Ltd. now owns 719,597 shares of the company’s stock worth $15,255,000 after buying an additional 137,306 shares in the last quarter. Hedge funds and other institutional investors own 74.41% of the company’s stock.

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.