Premier, Inc. (NASDAQ:PINC) Receives Average Recommendation of "Hold" from Analysts

Premier, Inc. (NASDAQ:PINC - Get Free Report) has earned an average recommendation of "Hold" from the seven brokerages that are presently covering the firm, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a hold recommendation. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $20.17.

A number of equities research analysts have commented on the company. Robert W. Baird reduced their price target on Premier from $20.00 to $19.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 5th. Piper Sandler reduced their target price on Premier from $21.00 to $19.00 and set a "neutral" rating on the stock in a report on Wednesday, February 5th. Finally, Canaccord Genuity Group lowered their price target on shares of Premier from $21.00 to $19.00 and set a "hold" rating for the company in a report on Wednesday, February 5th.

Insiders Place Their Bets

In related news, General Counsel David L. Klatsky sold 10,000 shares of the business's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $19.53, for a total transaction of $195,300.00. Following the transaction, the general counsel now owns 90,597 shares in the company, valued at $1,769,359.41. The trade was a 9.94 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.96% of the company's stock.

Institutional Investors Weigh In On Premier

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Brooklyn Investment Group grew its stake in shares of Premier by 61,750.0% in the 4th 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. boosted its holdings 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 acquiring an additional 786 shares in the last quarter. Keystone Financial Group Inc. acquired a new stake in Premier in the fourth quarter valued at approximately $37,000. Smartleaf Asset Management LLC increased its holdings in shares of Premier by 297.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,906 shares of the company's stock valued at $40,000 after acquiring an additional 1,427 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Premier during the third quarter worth approximately $39,000. 74.41% of the stock is owned by institutional investors.

Premier Stock Performance

Shares of NASDAQ:PINC traded up $0.01 during mid-day trading on Friday, reaching $19.33. 735,516 shares of the company's stock were exchanged, compared to its average volume of 1,264,553. The firm has a market capitalization of $1.76 billion, a price-to-earnings ratio of -193.28 and a beta of 0.51. Premier has a twelve month low of $17.23 and a twelve month high of $23.56. The business's fifty day moving average price is $18.68 and its 200-day moving average price is $20.40.

Premier Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 4.35%. The ex-dividend date was Friday, February 28th. Premier's dividend payout ratio (DPR) is presently -840.00%.

About Premier

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.