Brokerages Set Premier, Inc. (NASDAQ:PINC) PT at $22.20

Shares of Premier, Inc. (NASDAQ:PINC - Get Free Report) have received a consensus recommendation of "Hold" from the six analysts that are currently covering the stock, Marketbeat Ratings reports. Six analysts have rated the stock with a hold recommendation. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $22.20.

A number of equities research analysts have recently weighed in on the company. Piper Sandler boosted their price target on Premier from $19.00 to $24.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 21st. Robert W. Baird boosted their price target on Premier from $19.00 to $22.00 and gave the stock a "neutral" rating in a research note on Thursday, May 15th. Finally, Canaccord Genuity Group boosted their price target on Premier from $19.00 to $22.00 and gave the stock a "hold" rating in a research note on Thursday, May 8th.

Premier Price Performance

Premier stock traded down $0.05 during trading hours on Monday, reaching $23.12. The stock had a trading volume of 1,481,282 shares, compared to its average volume of 1,264,243. The company has a market cap of $1.90 billion, a price-to-earnings ratio of -231.18 and a beta of 0.54. The business's 50 day moving average price is $21.21 and its 200-day moving average price is $20.74. Premier has a 52 week low of $17.23 and a 52 week high of $23.56.

Premier Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, June 15th. Investors of record on Sunday, June 1st will be given a $0.21 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.84 dividend on an annualized basis and a yield of 3.63%. Premier's dividend payout ratio is currently 147.37%.

Insider Activity at Premier

In related news, General Counsel David L. Klatsky sold 10,000 shares of the company's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $19.53, for a total value of $195,300.00. Following the sale, the general counsel now owns 90,597 shares in the company, valued at $1,769,359.41. This represents a 9.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John T. Bigalke sold 1,137 shares of the company's stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $23.03, for a total value of $26,185.11. Following the completion of the sale, the director now owns 28,673 shares in the company, valued at approximately $660,339.19. This represents a 3.81% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 24,119 shares of company stock worth $516,976 over the last quarter. Insiders own 0.96% of the company's stock.

Institutional Investors Weigh In On Premier

Several hedge funds have recently bought and sold shares of the stock. Van ECK Associates Corp boosted its position in Premier by 28.0% in the 4th quarter. Van ECK Associates Corp now owns 2,041 shares of the company's stock worth $43,000 after purchasing an additional 446 shares in the last quarter. CW Advisors LLC raised its stake in shares of Premier by 1.8% during the 1st quarter. CW Advisors LLC now owns 26,166 shares of the company's stock worth $504,000 after buying an additional 454 shares during the period. SRS Capital Advisors Inc. raised its stake in shares of Premier by 157.8% during the 4th 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. Baird Financial Group Inc. raised its stake in shares of Premier by 1.7% during the 1st quarter. Baird Financial Group Inc. now owns 56,826 shares of the company's stock worth $1,096,000 after buying an additional 972 shares during the period. Finally, Russell Investments Group Ltd. raised its stake in shares of Premier by 40.4% during the 4th quarter. Russell Investments Group Ltd. now owns 4,371 shares of the company's stock worth $93,000 after buying an additional 1,257 shares during the period. 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.