Premier (NASDAQ:PINC) Price Target Lowered to $19.00 at Robert W. Baird

Premier (NASDAQ:PINC - Free Report) had its price objective cut by Robert W. Baird from $20.00 to $19.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have a neutral rating on the stock.

Several other research firms have also commented on PINC. StockNews.com lowered shares of Premier from a "buy" rating to a "hold" rating in a research report on Tuesday, November 5th. Canaccord Genuity Group decreased their price target on shares of Premier from $21.00 to $19.00 and set a "hold" rating on the stock in a research report on Wednesday. Finally, Barclays boosted their price objective on shares of Premier from $20.00 to $24.00 and gave the company an "equal weight" rating in a research report on Wednesday, November 6th. Ten analysts have rated the stock with a hold rating, Based on data from MarketBeat, Premier has an average rating of "Hold" and an average price target of $20.50.

Premier Stock Performance

Shares of PINC traded down $0.19 during trading hours on Wednesday, hitting $18.76. The stock had a trading volume of 1,808,690 shares, compared to its average volume of 1,281,494. Premier has a 12 month low of $17.95 and a 12 month high of $23.56. The stock has a fifty day moving average price of $21.60 and a 200 day moving average price of $20.93.

Premier Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st will be given a $0.21 dividend. The ex-dividend date is Friday, February 28th. This represents a $0.84 annualized dividend and a dividend yield of 4.48%. Premier's payout ratio is -839.92%.

Insider Transactions at Premier

In related news, Director John T. Bigalke sold 1,136 shares of the business's stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $22.19, for a total value of $25,207.84. Following the sale, the director now directly owns 23,846 shares in the company, valued at approximately $529,142.74. The trade was a 4.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Leigh Anderson sold 20,000 shares of the firm's stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $21.88, for a total value of $437,600.00. Following the transaction, the chief operating officer now owns 111,707 shares of the company's stock, valued at $2,444,149.16. This represents a 15.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 59,425 shares of company stock valued at $1,320,242 over the last 90 days. Company insiders own 0.96% of the company's stock.

Hedge Funds Weigh In On Premier

Hedge funds have recently added to or reduced their stakes in the stock. HighTower Advisors LLC grew its stake in Premier by 9.3% in the fourth quarter. HighTower Advisors LLC now owns 35,450 shares of the company's stock worth $752,000 after purchasing an additional 3,020 shares in the last quarter. AlphaQuest LLC lifted its holdings in shares of Premier by 1,091.9% in the 4th quarter. AlphaQuest LLC now owns 42,503 shares of the company's stock worth $901,000 after buying an additional 38,937 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of Premier by 45.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 8,674 shares of the company's stock valued at $184,000 after buying an additional 2,712 shares during the period. Jackson Creek Investment Advisors LLC bought a new stake in shares of Premier in the fourth quarter valued at about $1,570,000. Finally, Raymond James Financial Inc. purchased a new stake in Premier in the fourth quarter worth about $286,000. 74.41% of the stock is currently owned by institutional investors.

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.