Premier (NASDAQ:PINC) Reaches New 1-Year Low - What's Next?

Premier, Inc. (NASDAQ:PINC - Get Free Report) shares reached a new 52-week low on Thursday . The company traded as low as $17.91 and last traded at $17.96, with a volume of 27307 shares. The stock had previously closed at $18.02.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Robert W. Baird reduced their price objective on shares of Premier from $20.00 to $19.00 and set a "neutral" rating for the company in a report on Wednesday, February 5th. Piper Sandler decreased their price objective on Premier from $21.00 to $19.00 and set a "neutral" rating on the stock in a report on Wednesday, February 5th. Barclays increased their target price on Premier from $20.00 to $24.00 and gave the stock an "equal weight" rating in a report on Wednesday, November 6th. StockNews.com lowered Premier from a "buy" rating to a "hold" rating in a research note on Tuesday, November 5th. Finally, Canaccord Genuity Group dropped their price objective on Premier from $21.00 to $19.00 and set a "hold" rating for the company in a research note on Wednesday, February 5th. Ten investment analysts have rated the stock with a hold rating, According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $20.50.

Premier Price Performance

The stock has a market capitalization of $1.71 billion, a price-to-earnings ratio of -177.68 and a beta of 0.43. The stock has a 50-day moving average of $21.20 and a 200 day moving average of $20.84.

Premier Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st will be paid a $0.21 dividend. The ex-dividend date is Friday, February 28th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.73%. Premier's dividend payout ratio (DPR) is presently -839.92%.

Insider Activity at Premier

In other news, COO Leigh Anderson sold 20,000 shares of the firm's stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $21.88, for a total transaction of $437,600.00. Following the sale, the chief operating officer now owns 111,707 shares of the company's stock, valued at $2,444,149.16. This trade represents a 15.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Helen M. Boudreau sold 2,500 shares of the company's stock in a transaction that occurred on Monday, January 6th. The shares were 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 of the company's stock, valued at $442,708.56. This trade represents a 10.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 42,010 shares of company stock worth $916,911 in the last ninety days. Company insiders own 0.96% of the company's stock.

Institutional Investors Weigh In On Premier

A number of hedge funds and other institutional investors have recently bought and sold shares of PINC. Brooklyn Investment Group increased its stake in 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 last quarter. SRS Capital Advisors Inc. raised its holdings in Premier by 157.8% during 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 position in shares of Premier during the 4th quarter worth approximately $37,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Premier during the 3rd quarter worth approximately $39,000. Finally, Smartleaf Asset Management LLC raised its stake in shares of Premier by 297.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,906 shares of the company's stock worth $40,000 after purchasing an additional 1,427 shares in the last quarter. Institutional investors and hedge funds own 74.41% of the company's stock.

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.