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

Shares of Premier, Inc. (NASDAQ:PINC) have earned an average recommendation of “Reduce” from the seven research firms that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating and six have given a hold rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $25.2857.

A number of research analysts recently commented on PINC shares. Leerink Partners upped their target price on Premier from $24.00 to $26.00 and gave the company a “market perform” rating in a research note on Tuesday, August 19th. Canaccord Genuity Group boosted their price target on shares of Premier from $22.00 to $25.00 and gave the company a “hold” rating in a report on Wednesday, August 20th. Bank of America raised their price objective on shares of Premier from $19.00 to $21.00 and gave the stock an “underperform” rating in a report on Tuesday, August 19th. Robert W. Baird lifted their target price on shares of Premier from $22.00 to $27.00 and gave the company a “neutral” rating in a research report on Wednesday, August 20th. Finally, Piper Sandler increased their price target 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.

Insider Buying and Selling

In related news, General Counsel David L. Klatsky sold 3,349 shares of the business’s stock in a transaction on Monday, August 25th. The stock was sold at an average price of $25.57, for a total value of $85,633.93. Following the sale, the general counsel owned 97,257 shares of the company’s stock, valued at $2,486,861.49. The trade was a 3.33% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Andy Brailo sold 6,521 shares of the stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $25.79, for a total value of $168,176.59. Following the transaction, the insider owned 99,447 shares of the company’s stock, valued at $2,564,738.13. This represents a 6.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 12,326 shares of company stock worth $317,230 in the last 90 days. 0.96% of the stock is owned by company insiders.

Hedge Funds Weigh In On Premier

Institutional investors have recently added to or reduced their stakes in the company. Northern Trust Corp grew its stake in Premier by 20.5% during the fourth quarter. Northern Trust Corp now owns 741,739 shares of the company’s stock worth $15,725,000 after buying an additional 126,217 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Premier by 162.1% in the 4th quarter. BNP Paribas Financial Markets now owns 74,863 shares of the company’s stock worth $1,587,000 after acquiring an additional 46,302 shares in the last quarter. Cetera Investment Advisers grew its position in Premier by 25.9% during the 4th quarter. Cetera Investment Advisers now owns 16,906 shares of the company’s stock worth $358,000 after acquiring an additional 3,476 shares during the last quarter. Deutsche Bank AG increased its holdings in Premier by 238.3% during the 4th quarter. Deutsche Bank AG now owns 199,280 shares of the company’s stock valued at $4,225,000 after purchasing an additional 140,367 shares in the last quarter. Finally, Ethic Inc. bought a new stake in shares of Premier during the fourth quarter worth $249,000. 74.41% of the stock is owned by institutional investors.

Premier Stock Down 0.0%

Premier stock opened at $27.10 on Wednesday. The business has a 50 day moving average price of $23.30 and a two-hundred day moving average price of $21.56. Premier has a 12 month low of $17.23 and a 12 month high of $28.79. The stock has a market cap of $2.24 billion, a price-to-earnings ratio of 123.19 and a beta of 0.61.

Premier Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 1st will be issued a $0.21 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.1%. Premier’s dividend payout ratio is presently 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.