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

Premier, Inc. (NASDAQ:PINC) has earned a consensus recommendation of “Hold” from the six research firms that are covering the firm, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold rating. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $22.20.

PINC has been the subject of several recent research reports. Robert W. Baird lifted their price objective on Premier from $19.00 to $22.00 and gave the company a “neutral” rating in a research note on Thursday, May 15th. Canaccord Genuity Group lifted their price objective on Premier from $19.00 to $22.00 and gave the company a “hold” rating in a research note on Thursday, May 8th. Finally, Piper Sandler lifted 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.

Premier Stock Performance

Shares of PINC opened at $22.93 on Monday. The stock has a 50-day simple moving average of $21.28 and a 200-day simple moving average of $20.72. The stock has a market capitalization of $1.89 billion, a PE ratio of -229.28 and a beta of 0.57. Premier has a 1 year low of $17.23 and a 1 year high of $23.56.

Premier Announces Dividend

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

Insider Buying and Selling

In related news, Director Helen M. Boudreau sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $22.88, for a total transaction of $45,760.00. Following the completion of the sale, the director now owns 18,668 shares in the company, valued at $427,123.84. The trade was a 9.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John T. Bigalke sold 1,137 shares of the business’s stock in a transaction that occurred 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 sale, the director now owns 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. Insiders sold a total of 24,119 shares of company stock worth $516,976 over the last 90 days. 0.96% of the stock is owned by insiders.

Institutional Investors Weigh In On Premier

Several institutional investors have recently added to or reduced their stakes in PINC. SRS Capital Advisors Inc. increased its position in Premier by 157.8% during the fourth quarter. SRS Capital Advisors Inc. now owns 1,284 shares of the company’s stock worth $27,000 after buying an additional 786 shares during the period. Keystone Financial Group Inc. acquired a new position in Premier during the fourth quarter worth approximately $37,000. Smartleaf Asset Management LLC increased its position in Premier by 297.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,906 shares of the company’s stock worth $40,000 after buying an additional 1,427 shares during the period. Van ECK Associates Corp increased its position in Premier by 28.0% during the fourth quarter. Van ECK Associates Corp now owns 2,041 shares of the company’s stock worth $43,000 after buying an additional 446 shares during the period. Finally, Aster Capital Management DIFC Ltd acquired a new position in Premier during the fourth quarter worth approximately $52,000. 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.