Premier, Inc. (NASDAQ:PINC) Director Sells $26,185.11 in Stock

Premier, Inc. (NASDAQ:PINC) Director John T. Bigalke sold 1,137 shares of the firm’s stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $23.03, for a total value of $26,185.11. Following the transaction, the director now owns 28,673 shares in the company, valued at $660,339.19. The trade was a 3.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Premier Stock Performance

NASDAQ PINC opened at $22.93 on Friday. The stock has a 50-day simple moving average of $21.28 and a two-hundred day simple moving average of $20.73. The firm has a market capitalization of $1.89 billion, a P/E ratio of -229.28 and a beta of 0.57. Premier, Inc. has a fifty-two week low of $17.23 and a fifty-two week high of $23.56.

Premier Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, June 15th. Investors of record on Sunday, June 1st will be paid a $0.21 dividend. The ex-dividend date is Friday, May 30th. This represents a $0.84 annualized dividend and a dividend yield of 3.66%. Premier’s dividend payout ratio is presently 147.37%.

Hedge Funds Weigh In On Premier

Several institutional investors and hedge funds have recently modified their holdings of PINC. American Century Companies Inc. increased its stake in Premier by 11.3% during the 1st quarter. American Century Companies Inc. now owns 2,891,710 shares of the company’s stock worth $55,752,000 after buying an additional 292,979 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Premier by 4.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,897,424 shares of the company’s stock valued at $36,582,000 after acquiring an additional 84,016 shares during the last quarter. LSV Asset Management lifted its holdings in Premier by 9.2% in the first quarter. LSV Asset Management now owns 1,392,700 shares of the company’s stock valued at $26,851,000 after acquiring an additional 117,398 shares during the last quarter. Alps Advisors Inc. lifted its holdings in Premier by 7.8% in the first quarter. Alps Advisors Inc. now owns 921,163 shares of the company’s stock valued at $17,760,000 after acquiring an additional 66,391 shares during the last quarter. Finally, Brandes Investment Partners LP lifted its holdings in Premier by 123.1% in the fourth quarter. Brandes Investment Partners LP now owns 842,326 shares of the company’s stock valued at $17,857,000 after acquiring an additional 464,710 shares during the last quarter. Hedge funds and other institutional investors own 74.41% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on PINC shares. Piper Sandler increased their target price on Premier from $19.00 to $24.00 and gave the company a “neutral” rating in a research report on Wednesday, May 21st. Robert W. Baird raised their price objective on Premier from $19.00 to $22.00 and gave the stock a “neutral” rating in a research report on Thursday, May 15th. Finally, Canaccord Genuity Group lifted their price target on Premier from $19.00 to $22.00 and gave the stock a “hold” rating in a research report on Thursday, May 8th. Seven analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Premier has a consensus rating of “Hold” and a consensus price target of $22.20.

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.