Premier (NASDAQ:PINC) Price Target Raised to $28.00 at Piper Sandler

Premier (NASDAQ:PINC) had its target price boosted by Piper Sandler from $24.00 to $28.00 in a research report released on Monday, Marketbeat Ratings reports. Piper Sandler currently has a neutral rating on the stock.

Other equities research analysts have also recently issued reports about the stock. Leerink Partners raised their price objective 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. Canaccord Genuity Group raised their price objective on shares of Premier from $22.00 to $25.00 and gave the stock a “hold” rating in a research report on Wednesday, August 20th. Bank of America lifted their price target on shares of Premier from $19.00 to $21.00 and gave the company an “underperform” rating in a research report on Tuesday, August 19th. 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 research report on Wednesday, August 20th. Finally, Robert W. Baird lifted their price target 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. Seven equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $24.50.

Premier Trading Up 1.5%

Premier stock opened at $26.25 on Monday. Premier has a 12-month low of $17.23 and a 12-month high of $27.26. The stock has a market cap of $2.16 billion, a P/E ratio of 119.32 and a beta of 0.56. The company has a 50-day moving average price of $22.52 and a 200 day moving average price of $21.04.

Premier Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 1st will be paid a $0.21 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.84 annualized dividend and a dividend yield of 3.2%. Premier’s dividend payout ratio (DPR) is presently 381.82%.

Insider Activity

In other news, Director Helen M. Boudreau sold 2,000 shares of the firm’s 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 completion of the transaction, the director owned 18,668 shares of the company’s stock, valued at approximately $427,123.84. This trade represents a 9.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John T. Bigalke sold 1,137 shares of the firm’s stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $23.03, for a total transaction of $26,185.11. Following the completion of the transaction, the director directly owned 28,673 shares of the company’s stock, valued at approximately $660,339.19. The trade was a 3.81% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,805 shares of company stock valued at $191,675. 0.96% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Neuberger Berman Group LLC boosted its stake in shares of Premier by 16.8% in the second quarter. Neuberger Berman Group LLC now owns 13,059 shares of the company’s stock valued at $286,000 after purchasing an additional 1,876 shares during the period. Tower Research Capital LLC TRC lifted its stake in Premier by 1,069.9% in the second quarter. Tower Research Capital LLC TRC now owns 7,862 shares of the company’s stock worth $172,000 after acquiring an additional 7,190 shares during the last quarter. Corient Private Wealth LLC purchased a new position in Premier in the second quarter worth approximately $206,000. Vident Advisory LLC purchased a new position in Premier in the second quarter worth approximately $204,000. Finally, Tidal Investments LLC lifted its stake in Premier by 7.8% in the second quarter. Tidal Investments LLC now owns 31,749 shares of the company’s stock worth $696,000 after acquiring an additional 2,297 shares during the last quarter. Hedge funds and other institutional investors 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.