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

Shares of Premier, Inc. (NASDAQ:PINC) have received a consensus recommendation of “Hold” from the seven analysts that are covering the stock, Marketbeat reports. Seven research analysts have rated the stock with a hold recommendation. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $20.17.

A number of brokerages have weighed in on PINC. Piper Sandler decreased their target price on shares of Premier from $21.00 to $19.00 and set a “neutral” rating for the company in a research note on Wednesday, February 5th. Canaccord Genuity Group cut their price target on Premier from $21.00 to $19.00 and set a “hold” rating for the company in a research note on Wednesday, February 5th. Finally, Robert W. Baird lowered 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.

Insider Buying and Selling at Premier

In other Premier 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 value of $195,300.00. Following the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.96% of the company’s stock.

Institutional Trading of Premier

Institutional investors have recently bought and sold shares of the stock. Exchange Traded Concepts LLC increased its stake in Premier by 19.2% in the first quarter. Exchange Traded Concepts LLC now owns 103,582 shares of the company’s stock worth $1,997,000 after purchasing an additional 16,663 shares during the period. Ritholtz Wealth Management purchased a new stake in Premier in the 1st quarter valued at about $917,000. Wedge Capital Management L L P NC grew its stake in Premier by 35.6% in the 1st quarter. Wedge Capital Management L L P NC now owns 132,340 shares of the company’s stock worth $2,552,000 after acquiring an additional 34,714 shares in the last quarter. OLD National Bancorp IN purchased a new position in shares of Premier during the first quarter worth approximately $234,000. Finally, GAMMA Investing LLC raised its stake in shares of Premier by 1,435.4% during the first quarter. GAMMA Investing LLC now owns 22,924 shares of the company’s stock valued at $442,000 after acquiring an additional 21,431 shares in the last quarter. 74.41% of the stock is currently owned by institutional investors.

Premier Stock Up 0.1 %

Shares of NASDAQ PINC opened at $19.33 on Friday. The firm’s 50-day moving average price is $18.68 and its 200-day moving average price is $20.40. Premier has a 52-week low of $17.23 and a 52-week high of $23.56. The company has a market cap of $1.76 billion, a PE ratio of -193.28 and a beta of 0.51.

Premier Dividend Announcement

The company also recently announced 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 annualized dividend and a yield of 4.35%. The ex-dividend date of this dividend was Friday, February 28th. Premier’s dividend payout ratio is currently -840.00%.

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.