John T. Bigalke Sells 1,137 Shares of Premier, Inc. (NASDAQ:PINC) Stock

Premier, Inc. (NASDAQ:PINC) Director John T. Bigalke sold 1,137 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $17.54, for a total transaction of $19,942.98. Following the transaction, the director now directly owns 29,810 shares in the company, valued at approximately $522,867.40. This represents a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Premier Stock Performance

PINC stock traded down $0.19 during trading on Thursday, hitting $17.27. 247,764 shares of the company traded hands, compared to its average volume of 1,329,791. The company has a 50-day moving average of $20.40 and a 200-day moving average of $20.69. The firm has a market capitalization of $1.58 billion, a PE ratio of -173.53 and a beta of 0.43. Premier, Inc. has a 1 year low of $17.29 and a 1 year high of $23.56.

Premier Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 4.86%. The ex-dividend date is Friday, February 28th. Premier’s dividend payout ratio is -840.00%.

Institutional Investors Weigh In On Premier

Several institutional investors have recently added to or reduced their stakes in PINC. Nordea Investment Management AB lifted its holdings in Premier by 21.0% in the fourth quarter. Nordea Investment Management AB now owns 256,492 shares of the company’s stock worth $5,465,000 after buying an additional 44,480 shares during the period. Empowered Funds LLC boosted its position in shares of Premier by 27.7% during the third quarter. Empowered Funds LLC now owns 428,076 shares of the company’s stock valued at $8,562,000 after purchasing an additional 92,766 shares in the last quarter. KBC Group NV grew its stake in Premier by 38.1% in the fourth quarter. KBC Group NV now owns 5,589 shares of the company’s stock worth $118,000 after purchasing an additional 1,542 shares during the period. Jane Street Group LLC increased its stake in shares of Premier by 70.2% in the 3rd quarter. Jane Street Group LLC now owns 143,803 shares of the company’s stock worth $2,876,000 after acquiring an additional 59,295 shares in the last quarter. Finally, Kera Capital Partners Inc. purchased a new position in Premier during the 4th quarter valued at about $248,000. Hedge funds and other institutional investors own 74.41% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Piper Sandler dropped their target price on Premier from $21.00 to $19.00 and set a “neutral” rating on the stock in a report on Wednesday, February 5th. Canaccord Genuity Group dropped their price objective on Premier from $21.00 to $19.00 and set a “hold” rating on the stock in a research note 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 research note on Wednesday, February 5th. Finally, Barclays increased their price objective on shares of Premier from $20.00 to $24.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 6th. Eight equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $20.17.

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.