Premier, Inc. (NASDAQ:PINC) Receives $22.20 Consensus PT from Analysts

Shares of Premier, Inc. (NASDAQ:PINC - Get Free Report) have been assigned an average rating of "Hold" from the six research firms that are currently covering the company, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold recommendation. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $22.20.

A number of research firms have commented on PINC. Canaccord Genuity Group lifted their price objective on shares of Premier from $19.00 to $22.00 and gave the stock a "hold" rating in a report on Thursday, May 8th. Robert W. Baird raised their price target on shares of Premier from $19.00 to $22.00 and gave the stock a "neutral" rating in a research report on Thursday, May 15th. Finally, Piper Sandler boosted their price objective on shares of Premier from $19.00 to $24.00 and gave the company a "neutral" rating in a research report on Wednesday, May 21st.

Premier Trading Down 0.9%

NASDAQ PINC traded down $0.20 on Friday, hitting $21.61. 14,041,459 shares of the stock traded hands, compared to its average volume of 1,277,129. The stock has a 50-day moving average of $22.10 and a 200 day moving average of $20.72. Premier has a twelve month low of $17.23 and a twelve month high of $23.56. The company has a market capitalization of $1.78 billion, a P/E ratio of 37.91 and a beta of 0.57.

Premier Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Sunday, June 15th. Shareholders of record on Sunday, June 1st were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 3.89%. The ex-dividend date was Friday, May 30th. Premier's payout ratio is 147.37%.

Insiders Place Their Bets

In other Premier news, Director John T. Bigalke sold 1,137 shares of the business's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $23.03, for a total transaction of $26,185.11. Following the completion of the transaction, the director now owns 28,673 shares in the company, valued at approximately $660,339.19. The trade was a 3.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel David L. Klatsky sold 10,000 shares of Premier stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $19.53, for a total transaction of $195,300.00. Following the sale, the general counsel now owns 90,597 shares in the company, valued at approximately $1,769,359.41. This represents a 9.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 24,119 shares of company stock worth $516,976. Insiders own 0.96% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. SRS Capital Advisors Inc. lifted its position in Premier by 157.8% in the fourth quarter. SRS Capital Advisors Inc. now owns 1,284 shares of the company's stock worth $27,000 after purchasing an additional 786 shares during the period. Smartleaf Asset Management LLC raised its stake in shares of Premier by 297.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,906 shares of the company's stock worth $40,000 after buying an additional 1,427 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in shares of Premier in the fourth quarter valued at $52,000. New Age Alpha Advisors LLC bought a new position in Premier during the fourth quarter valued at about $82,000. Finally, Russell Investments Group Ltd. boosted its stake in Premier by 40.4% during the fourth quarter. Russell Investments Group Ltd. now owns 4,371 shares of the company's stock valued at $93,000 after buying an additional 1,257 shares in the last quarter. 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.