Premier (NASDAQ:PINC) Reaches New 12-Month Low – Here’s Why

Premier, Inc. (NASDAQ:PINC) shares reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $17.68 and last traded at $17.61, with a volume of 744523 shares trading hands. The stock had previously closed at $17.93.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on PINC shares. Barclays boosted their target price on Premier from $20.00 to $24.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 6th. Canaccord Genuity Group decreased their price objective on shares of Premier from $21.00 to $19.00 and set a “hold” rating on the stock in a report on Wednesday, February 5th. Piper Sandler dropped their price objective on shares of Premier from $21.00 to $19.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 5th. Robert W. Baird reduced their target price on shares of Premier from $20.00 to $19.00 and set a “neutral” rating for the company in a report on Wednesday, February 5th. Finally, StockNews.com cut shares of Premier from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th. Eight analysts have rated the stock with a hold rating, According to MarketBeat, Premier has a consensus rating of “Hold” and an average target price of $20.17.

Premier Price Performance

The stock’s 50-day moving average price is $20.48 and its 200-day moving average price is $20.71. The company has a market cap of $1.61 billion, a P/E ratio of -175.88 and a beta of 0.43.

Premier Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 15th. Stockholders 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 annualized dividend and a dividend yield of 4.78%. Premier’s payout ratio is -840.00%.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Brooklyn Investment Group boosted its holdings in shares of Premier by 61,750.0% in the 4th quarter. Brooklyn Investment Group now owns 1,237 shares of the company’s stock worth $26,000 after buying an additional 1,235 shares during the last quarter. SRS Capital Advisors Inc. boosted its stake in Premier by 157.8% in the fourth quarter. SRS Capital Advisors Inc. now owns 1,284 shares of the company’s stock valued at $27,000 after acquiring an additional 786 shares during the last quarter. Keystone Financial Group Inc. purchased a new position in Premier in the fourth quarter valued at approximately $37,000. Wilmington Savings Fund Society FSB bought a new position in Premier during the third quarter valued at $39,000. Finally, Smartleaf Asset Management LLC increased its position in Premier by 297.9% in 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 last quarter. Institutional investors own 74.41% of the company’s stock.

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.