Analysts Set Premier, Inc. (NASDAQ:PINC) Price Target at $20.50

Premier, Inc. (NASDAQ:PINC - Get Free Report) has received a consensus recommendation of "Hold" from the nine ratings firms that are currently covering the stock, Marketbeat Ratings reports. Nine analysts have rated the stock with a hold recommendation. The average 1 year price objective among analysts that have covered the stock in the last year is $20.50.

A number of research analysts recently issued reports on the company. StockNews.com downgraded Premier from a "buy" rating to a "hold" rating in a report on Tuesday, November 5th. Robert W. Baird decreased their target price on Premier from $20.00 to $19.00 and set a "neutral" rating for the company in a report on Wednesday, February 5th. Canaccord Genuity Group cut their price target on shares of Premier from $21.00 to $19.00 and set a "hold" rating on the stock in a report on Wednesday, February 5th. Piper Sandler reduced 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. Finally, Barclays lifted their target price on shares of Premier from $20.00 to $24.00 and gave the company an "equal weight" rating in a research note on Wednesday, November 6th.

Insiders Place Their Bets

In other Premier news, Director Helen M. Boudreau sold 2,500 shares of Premier stock in a transaction 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 completion of 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John T. Bigalke sold 1,136 shares of the stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $22.19, for a total value of $25,207.84. Following the completion of the sale, the director now directly owns 23,846 shares in the company, valued at approximately $529,142.74. This represents a 4.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 42,010 shares of company stock worth $916,911. 0.96% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Premier

Several large investors have recently modified their holdings of the stock. Creative Planning increased its stake in Premier by 13.8% during the 3rd quarter. Creative Planning now owns 58,018 shares of the company's stock valued at $1,160,000 after purchasing an additional 7,038 shares in the last quarter. Impact Partnership Wealth LLC increased its position in shares of Premier by 7.1% during the third quarter. Impact Partnership Wealth LLC now owns 11,945 shares of the company's stock valued at $239,000 after acquiring an additional 795 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in Premier in the 3rd quarter worth approximately $4,466,000. Wealth Enhancement Advisory Services LLC lifted its position in Premier by 64.1% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 25,067 shares of the company's stock valued at $501,000 after acquiring an additional 9,796 shares in the last quarter. Finally, Integrated Advisors Network LLC bought a new position in Premier in the 3rd quarter valued at approximately $237,000. Hedge funds and other institutional investors own 74.41% of the company's stock.

Premier Price Performance

Premier stock traded down $0.30 during trading hours on Friday, reaching $18.21. The stock had a trading volume of 1,786,857 shares, compared to its average volume of 1,331,396. The company has a fifty day simple moving average of $20.74 and a 200-day simple moving average of $20.76. Premier has a 52 week low of $17.69 and a 52 week high of $23.56. The stock has a market cap of $1.66 billion, a PE ratio of -182.08 and a beta of 0.43.

Premier Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 15th. Investors of record on Saturday, March 1st will be given a dividend of $0.21 per share. The ex-dividend date is Friday, February 28th. This represents a $0.84 dividend on an annualized basis and a yield of 4.61%. Premier's dividend payout ratio (DPR) is currently -840.00%.

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.