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

Shares of Premier, Inc. (NASDAQ:PINC) have received an average rating of “Hold” from the seven research firms that are currently covering the firm, MarketBeat.com reports. Seven investment analysts have rated the stock with a hold recommendation. The average 1 year price objective among brokerages that have covered the stock in the last year is $20.17.

PINC has been the topic of a number of research analyst reports. Robert W. Baird cut their target price on Premier from $20.00 to $19.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 5th. Canaccord Genuity Group cut 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. Finally, Piper Sandler dropped their price target on Premier from $21.00 to $19.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 5th.

Premier Stock Performance

PINC opened at $18.55 on Wednesday. The business’s 50-day simple moving average is $19.60 and its 200-day simple moving average is $20.51. Premier has a one year low of $17.23 and a one year high of $23.56. The stock has a market capitalization of $1.69 billion, a P/E ratio of -185.48 and a beta of 0.39.

Premier Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 4.53%. The ex-dividend date was Friday, February 28th. Premier’s payout ratio is -840.00%.

Insiders Place Their Bets

In other Premier 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 transaction of $53,550.00. Following the transaction, the director now owns 20,668 shares in the company, valued at approximately $442,708.56. The trade was a 10.79 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.96% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Premier

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Nordea Investment Management AB increased its position in Premier by 21.0% during the 4th quarter. Nordea Investment Management AB now owns 256,492 shares of the company’s stock worth $5,465,000 after purchasing an additional 44,480 shares during the period. Steward Partners Investment Advisory LLC purchased a new stake in shares of Premier during the 4th quarter worth approximately $554,000. KBC Group NV boosted its stake in shares of Premier by 38.1% during the 4th quarter. KBC Group NV now owns 5,589 shares of the company’s stock worth $118,000 after acquiring an additional 1,542 shares in the last quarter. Jane Street Group LLC boosted its stake in shares of Premier by 70.2% during the 3rd quarter. Jane Street Group LLC now owns 143,803 shares of the company’s stock worth $2,876,000 after acquiring an additional 59,295 shares in the last quarter. Finally, Kera Capital Partners Inc. purchased a new stake in shares of Premier during the 4th quarter worth approximately $248,000. Institutional investors and hedge funds 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.