Premier, Inc. (NASDAQ:PINC) Receives Consensus Recommendation of "Hold" from Brokerages

Shares of Premier, Inc. (NASDAQ:PINC - Get Free Report) have received a consensus rating of "Hold" from the seven research firms that are covering the company, MarketBeat.com reports. Seven analysts have rated the stock with a hold rating. The average 12 month price target among brokers that have issued a report on the stock in the last year is $20.17.

PINC has been the topic of several recent research reports. Robert W. Baird dropped their price objective on shares of Premier from $20.00 to $19.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 5th. Canaccord Genuity Group lowered their price target on shares of Premier from $21.00 to $19.00 and set a "hold" rating on the stock in a research note on Wednesday, February 5th. Finally, Piper Sandler lowered their price target on shares of Premier from $21.00 to $19.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 5th.

Premier Stock Performance

PINC traded down $0.16 during trading on Wednesday, hitting $18.55. The stock had a trading volume of 7,307,050 shares, compared to its average volume of 1,244,523. The firm has a market capitalization of $1.69 billion, a P/E ratio of -185.48 and a beta of 0.39. The company's 50-day moving average price is $19.60 and its 200 day moving average price is $20.52. Premier has a twelve month low of $17.23 and a twelve month high of $23.56.

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Premier Dividend Announcement

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

Insider Activity at Premier

In related news, Director Helen M. Boudreau sold 2,500 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $21.42, for a total value of $53,550.00. Following the sale, the director now directly owns 20,668 shares of the company's stock, valued at approximately $442,708.56. This represents a 10.79 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.96% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Premier

Several hedge funds have recently modified their holdings of the company. Brooklyn Investment Group lifted its stake in shares of Premier by 61,750.0% during the fourth quarter. Brooklyn Investment Group now owns 1,237 shares of the company's stock valued at $26,000 after buying an additional 1,235 shares during the period. SRS Capital Advisors Inc. grew its stake in Premier by 157.8% in the 4th quarter. SRS Capital Advisors Inc. now owns 1,284 shares of the company's stock worth $27,000 after acquiring an additional 786 shares during the period. Keystone Financial Group Inc. purchased a new stake in Premier in the 4th quarter worth approximately $37,000. Smartleaf Asset Management LLC grew its stake in 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 acquiring an additional 1,427 shares during the period. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Premier in the 3rd quarter worth approximately $39,000. 74.41% of the stock is owned by institutional investors and hedge funds.

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.