Premier (NASDAQ:PINC - Free Report) had its target price upped by Robert W. Baird from $22.00 to $27.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a neutral rating on the stock.
Other analysts also recently issued reports about the company. Canaccord Genuity Group lifted their price target on Premier from $19.00 to $22.00 and gave the company a "hold" rating in a research note on Thursday, May 8th. Piper Sandler increased their target price on Premier from $19.00 to $24.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 21st. Leerink Partners boosted their price objective on shares of Premier from $24.00 to $26.00 and gave the company a "market perform" rating in a research note on Tuesday, August 19th. Finally, Bank of America raised their price objective on Premier from $19.00 to $21.00 and gave the stock an "underperform" rating in a report on Tuesday, August 19th. Eight research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Premier presently has a consensus rating of "Reduce" and a consensus target price of $24.50.
Check Out Our Latest Stock Report on Premier
Premier Stock Performance
PINC stock traded up $0.4570 during mid-day trading on Wednesday, reaching $25.5970. The company had a trading volume of 702,762 shares, compared to its average volume of 1,619,024. Premier has a fifty-two week low of $17.23 and a fifty-two week high of $27.26. The company has a market capitalization of $2.11 billion, a price-to-earnings ratio of 116.44 and a beta of 0.56. The firm has a fifty day simple moving average of $22.30 and a 200 day simple moving average of $20.93.
Premier Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 1st will be given a dividend of $0.21 per share. The ex-dividend date is Friday, August 29th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.3%. Premier's payout ratio is presently 381.82%.
Insiders Place Their Bets
In other 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 sale, the director owned 28,673 shares in the company, valued at $660,339.19. The trade was a 3.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Helen M. Boudreau sold 2,000 shares of the company's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $22.88, for a total value of $45,760.00. Following the completion of the sale, the director owned 18,668 shares of the company's stock, valued at $427,123.84. This represents a 9.68% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.96% of the company's stock.
Institutional Investors Weigh In On Premier
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. First Horizon Advisors Inc. increased its holdings in Premier by 198.2% in the second quarter. First Horizon Advisors Inc. now owns 1,130 shares of the company's stock valued at $25,000 after purchasing an additional 751 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in Premier in the second quarter valued at about $32,000. Signaturefd LLC increased its holdings in Premier by 72.2% in the second quarter. Signaturefd LLC now owns 2,197 shares of the company's stock valued at $48,000 after purchasing an additional 921 shares during the last quarter. GAMMA Investing LLC increased its holdings in Premier by 112.1% in the second quarter. GAMMA Investing LLC now owns 2,522 shares of the company's stock valued at $55,000 after purchasing an additional 1,333 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its stake in Premier by 155.1% in the second quarter. Smartleaf Asset Management LLC now owns 2,541 shares of the company's stock valued at $55,000 after acquiring an additional 1,545 shares during the period. Institutional investors own 74.41% of the company's stock.
About Premier
(
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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.
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