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

Shares of Premier, Inc. (NASDAQ:PINC) have been given an average recommendation of “Reduce” by the eight analysts that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating and seven have issued a hold rating on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $26.0714.

A number of analysts recently issued reports on the stock. Bank of America increased their target price on shares of Premier from $19.00 to $21.00 and gave the stock an “underperform” rating in a research report on Tuesday, August 19th. Robert W. Baird increased their target price on shares of Premier from $22.00 to $27.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 20th. Leerink Partners increased their target price on shares of Premier from $24.00 to $26.00 and gave the stock a “market perform” rating in a research report on Tuesday, August 19th. Piper Sandler increased their target price on shares of Premier from $24.00 to $28.00 and gave the stock a “neutral” rating in a research report on Monday, August 25th. Finally, Canaccord Genuity Group increased their price objective on shares of Premier from $25.00 to $28.25 and gave the company a “hold” rating in a research report on Tuesday, September 23rd.

Insider Buying and Selling at Premier

In other Premier news, Director John T. Bigalke sold 1,137 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $25.79, for a total value of $29,323.23. Following the completion of the sale, the director owned 27,536 shares of the company’s stock, valued at $710,153.44. This trade represents a 3.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Andy Brailo sold 6,521 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $25.79, for a total transaction of $168,176.59. Following the completion of the sale, the insider directly owned 99,447 shares of the company’s stock, valued at $2,564,738.13. This trade represents a 6.15% decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,326 shares of company stock valued at $317,230 over the last 90 days. 0.96% of the stock is owned by corporate insiders.

Institutional Trading of Premier

A number of hedge funds have recently made changes to their positions in PINC. First Horizon Advisors Inc. grew its position in shares of Premier by 198.2% during the second quarter. First Horizon Advisors Inc. now owns 1,130 shares of the company’s stock worth $25,000 after buying an additional 751 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in shares of Premier during the second quarter worth approximately $32,000. Signaturefd LLC grew its position in shares of Premier by 72.2% during the second quarter. Signaturefd LLC now owns 2,197 shares of the company’s stock worth $48,000 after buying an additional 921 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Premier by 112.1% during the second quarter. GAMMA Investing LLC now owns 2,522 shares of the company’s stock worth $55,000 after buying an additional 1,333 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its position in shares of Premier by 155.1% during the second quarter. Smartleaf Asset Management LLC now owns 2,541 shares of the company’s stock worth $55,000 after buying an additional 1,545 shares in the last quarter. Institutional investors and hedge funds own 74.41% of the company’s stock.

Premier Stock Performance

PINC opened at $27.90 on Friday. The firm has a 50 day moving average price of $25.41 and a 200 day moving average price of $22.69. The company has a market cap of $2.30 billion, a PE ratio of 126.82 and a beta of 0.64. Premier has a 1 year low of $17.23 and a 1 year high of $28.79.

Premier Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 1st were given a $0.21 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.84 annualized dividend and a yield of 3.0%. Premier’s dividend payout ratio (DPR) is 381.82%.

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.