Premier, Inc. (NASDAQ:PINC) Short Interest Update

Premier, Inc. (NASDAQ:PINC - Get Free Report) saw a large decline in short interest during the month of March. As of March 15th, there was short interest totalling 16,430,000 shares, a decline of 13.2% from the February 28th total of 18,930,000 shares. Approximately 18.3% of the company's stock are short sold. Based on an average daily volume of 1,500,000 shares, the short-interest ratio is currently 11.0 days.

Premier Stock Down 0.1 %

NASDAQ PINC traded down $0.01 on Thursday, hitting $19.54. The stock had a trading volume of 1,148,201 shares, compared to its average volume of 1,248,897. The company's 50-day moving average is $19.11 and its two-hundred day moving average is $20.46. Premier has a one year low of $17.23 and a one year high of $23.56. The stock has a market cap of $1.78 billion, a price-to-earnings ratio of -195.38 and a beta of 0.39.

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 issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 4.30%. The ex-dividend date was Friday, February 28th. Premier's dividend payout ratio (DPR) is -840.00%.

Insider Transactions at Premier

In other news, Director Helen M. Boudreau sold 2,500 shares of Premier stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $21.42, for a total value 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. This trade represents a 10.79 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel David L. Klatsky sold 10,000 shares of the firm's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $19.53, for a total value of $195,300.00. Following the transaction, the general counsel now owns 90,597 shares in the company, valued at $1,769,359.41. This trade represents a 9.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,637 shares of company stock valued at $268,793. Insiders own 0.96% of the company's stock.

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Institutional Trading of Premier

Several hedge funds have recently added to or reduced their stakes in PINC. Brooklyn Investment Group increased its holdings 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 purchasing an additional 1,235 shares during the period. SRS Capital Advisors Inc. increased its stake in Premier by 157.8% during the 4th quarter. SRS Capital Advisors Inc. now owns 1,284 shares of the company's stock valued at $27,000 after buying an additional 786 shares during the period. Keystone Financial Group Inc. bought a new stake in shares of Premier during the 4th quarter worth about $37,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Premier during the 3rd quarter worth about $39,000. Finally, Smartleaf Asset Management LLC lifted its stake in shares of 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. Institutional investors own 74.41% of the company's stock.

Analysts Set New Price Targets

PINC has been the topic of a number of research reports. Canaccord Genuity Group dropped their target price 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. 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. Finally, Piper Sandler decreased their target price on Premier from $21.00 to $19.00 and set a "neutral" rating for the company in a research note on Wednesday, February 5th. Eight research analysts have rated the stock with a hold rating, According to MarketBeat, Premier has a consensus rating of "Hold" and an average target price of $20.17.

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.