Premier, Inc. (NASDAQ:PINC) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Premier, Inc. (NASDAQ:PINC) have received a consensus rating of “Hold” from the six analysts that are covering the firm, MarketBeat.com reports. Six research analysts have rated the stock with a hold recommendation. The average twelve-month target price among brokerages that have covered the stock in the last year is $22.20.

A number of research analysts have recently issued reports on the company. Piper Sandler boosted their target price on Premier from $19.00 to $24.00 and gave the company a “neutral” rating in a report on Wednesday, May 21st. Robert W. Baird boosted their target price on Premier from $19.00 to $22.00 and gave the company a “neutral” rating in a report on Thursday, May 15th. Finally, Canaccord Genuity Group boosted their target price on Premier from $19.00 to $22.00 and gave the company a “hold” rating in a report on Thursday, May 8th.

Premier Stock Down 0.8%

PINC opened at $22.93 on Monday. The firm has a market cap of $1.89 billion, a price-to-earnings ratio of -229.28 and a beta of 0.57. Premier has a 52 week low of $17.23 and a 52 week high of $23.56. The business’s 50 day moving average is $21.28 and its two-hundred day moving average is $20.72.

Premier Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, June 15th. Stockholders of record on Sunday, June 1st will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.66%. The ex-dividend date is Friday, May 30th. Premier’s payout ratio is currently 147.37%.

Insider Buying and Selling

In related news, Director Helen M. Boudreau sold 2,000 shares of the company’s stock in a transaction on Friday, May 30th. The stock was sold at an average price of $22.88, for a total transaction of $45,760.00. Following the transaction, the director now owns 18,668 shares of the company’s stock, valued at $427,123.84. This represents a 9.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel David L. Klatsky sold 10,982 shares of the company’s stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $22.74, for a total value of $249,730.68. Following the transaction, the general counsel now directly owns 76,093 shares in the company, valued at $1,730,354.82. This represents a 12.61% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,119 shares of company stock valued at $516,976 over the last quarter. Company insiders own 0.96% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Van ECK Associates Corp grew its holdings in Premier by 28.0% during the fourth quarter. Van ECK Associates Corp now owns 2,041 shares of the company’s stock worth $43,000 after acquiring an additional 446 shares during the period. CW Advisors LLC grew its holdings in Premier by 1.8% during the first quarter. CW Advisors LLC now owns 26,166 shares of the company’s stock worth $504,000 after acquiring an additional 454 shares during the period. SRS Capital Advisors Inc. grew 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 during the period. Baird Financial Group Inc. grew its holdings in Premier by 1.7% during the first quarter. Baird Financial Group Inc. now owns 56,826 shares of the company’s stock worth $1,096,000 after acquiring an additional 972 shares during the period. Finally, Russell Investments Group Ltd. boosted its position in Premier by 40.4% during the fourth quarter. Russell Investments Group Ltd. now owns 4,371 shares of the company’s stock worth $93,000 after purchasing an additional 1,257 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.