Analysts Set Premier, Inc. (NASDAQ:PINC) Target Price at $22.20

Shares of Premier, Inc. (NASDAQ:PINC) have been assigned an average recommendation of “Reduce” from the nine research firms that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating and eight have given a hold rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $24.00.

A number of analysts have commented on the company. Canaccord Genuity Group upped their price target on Premier from $22.00 to $25.00 and gave the stock a “hold” rating in a research report on Wednesday. Piper Sandler boosted their price objective on Premier from $19.00 to $24.00 and gave the company a “neutral” rating in a research note on Wednesday, May 21st. Leerink Partners raised their target price on shares of Premier from $24.00 to $26.00 and gave the stock a “market perform” rating in a research note on Tuesday. UBS Group lifted their price target on shares of Premier from $23.00 to $26.00 and gave the company a “neutral” rating in a report on Wednesday. Finally, Robert W. Baird increased their price objective on shares of Premier from $22.00 to $27.00 and gave the stock a “neutral” rating in a research note on Wednesday.

Premier Price Performance

NASDAQ:PINC opened at $25.55 on Friday. Premier has a one year low of $17.23 and a one year high of $27.26. The business has a fifty day moving average price of $22.18 and a 200-day moving average price of $20.84. The firm has a market capitalization of $2.10 billion, a price-to-earnings ratio of 116.14 and a beta of 0.56.

Premier Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 1st will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date is Friday, August 29th. Premier’s dividend payout ratio is presently 147.37%.

Insider Transactions at Premier

In related news, Director John T. Bigalke sold 1,137 shares of the stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $23.03, for a total transaction of $26,185.11. Following the completion of the sale, the director owned 28,673 shares in the company, valued at approximately $660,339.19. This trade represents a 3.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Helen M. Boudreau sold 2,000 shares of Premier stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $22.88, for a total value of $45,760.00. Following the sale, the director directly owned 18,668 shares in the company, valued at $427,123.84. This trade represents a 9.68% decrease in their position. The disclosure for this sale can be found here. 0.96% of the stock is owned by company insiders.

Hedge Funds Weigh In On Premier

Several hedge funds have recently modified their holdings of PINC. Alliancebernstein L.P. lifted its holdings in shares of Premier by 3.0% in the fourth quarter. Alliancebernstein L.P. now owns 61,575 shares of the company’s stock worth $1,305,000 after buying an additional 1,781 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in Premier by 40.4% in the 4th quarter. Russell Investments Group Ltd. now owns 4,371 shares of the company’s stock valued at $93,000 after acquiring an additional 1,257 shares during the last quarter. Invesco Ltd. lifted its stake in Premier by 23.6% in the 4th quarter. Invesco Ltd. now owns 719,597 shares of the company’s stock worth $15,255,000 after purchasing an additional 137,306 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Premier during the 4th quarter valued at about $286,000. Finally, Sterling Capital Management LLC grew its position in shares of Premier by 44.5% during the fourth quarter. Sterling Capital Management LLC now owns 5,737 shares of the company’s stock valued at $122,000 after purchasing an additional 1,767 shares in the last quarter. Hedge funds and other institutional investors own 74.41% of the company’s stock.

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.