Premier (NASDAQ:PINC) Hits New 1-Year Low – What’s Next?

Premier, Inc. (NASDAQ:PINC)’s share price reached a new 52-week low on Thursday . The stock traded as low as $17.91 and last traded at $17.96, with a volume of 27307 shares trading hands. The stock had previously closed at $18.02.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PINC. Robert W. Baird dropped their price objective on shares of Premier from $20.00 to $19.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 5th. Canaccord Genuity Group dropped their price target on shares of Premier from $21.00 to $19.00 and set a “hold” rating on the stock in a research note on Wednesday, February 5th. Piper Sandler dropped their price target on shares of Premier from $21.00 to $19.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 5th. StockNews.com lowered shares of Premier from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th. Finally, Barclays increased their price target on shares of Premier from $20.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 6th. Ten research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $20.50.

Premier Stock Down 1.5 %

The business’s 50 day moving average is $21.20 and its 200-day moving average is $20.85.

Premier Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 15th. Investors of record on Saturday, March 1st will be paid a $0.21 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.84 dividend on an annualized basis and a yield of 4.73%. Premier’s payout ratio is presently -839.92%.

Insider Activity at Premier

In other Premier news, Director Helen M. Boudreau sold 2,500 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $21.42, for a total value of $53,550.00. Following the sale, the director now directly owns 20,668 shares in the company, valued at $442,708.56. This trade represents a 10.79 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John T. Bigalke sold 1,136 shares of the firm’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $22.19, for a total transaction of $25,207.84. Following the completion of the sale, the director now owns 23,846 shares in the company, valued at $529,142.74. This represents a 4.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 42,010 shares of company stock worth $916,911. 0.96% of the stock is owned by insiders.

Institutional Trading of Premier

Several hedge funds and other institutional investors have recently bought and sold shares of PINC. GAMMA Investing LLC grew its position in Premier by 137.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,347 shares of the company’s stock worth $27,000 after purchasing an additional 780 shares during the last quarter. CWM LLC grew its position in Premier by 10.2% in the 3rd quarter. CWM LLC now owns 45,039 shares of the company’s stock worth $901,000 after purchasing an additional 4,185 shares during the last quarter. Inspire Investing LLC grew its position in Premier by 6.8% in the 3rd quarter. Inspire Investing LLC now owns 20,576 shares of the company’s stock worth $412,000 after purchasing an additional 1,304 shares during the last quarter. Creative Planning grew its position in Premier by 13.8% in the 3rd quarter. Creative Planning now owns 58,018 shares of the company’s stock worth $1,160,000 after purchasing an additional 7,038 shares during the last quarter. Finally, nVerses Capital LLC grew its position in Premier by 196.7% in the 3rd quarter. nVerses Capital LLC now owns 8,900 shares of the company’s stock worth $178,000 after purchasing an additional 5,900 shares during the last quarter. 74.41% of the stock is currently owned by institutional investors and hedge funds.

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.