Premier (NASDAQ:PINC) Sets New 52-Week Low – Should You Sell?

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

Analyst Upgrades and Downgrades

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

Premier Stock Down 1.9 %

The stock has a market cap of $1.61 billion, a P/E ratio of -175.88 and a beta of 0.43. The company has a 50-day simple moving average of $20.48 and a two-hundred day simple moving average of $20.71.

Premier Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 15th. Investors of record on Saturday, March 1st will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 4.78%. The ex-dividend date is Friday, February 28th. Premier’s dividend payout ratio (DPR) is currently -840.00%.

Insider Activity at Premier

In related news, Director John T. Bigalke sold 1,136 shares of Premier 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 completion of the transaction, the director now directly owns 23,846 shares of the company’s stock, valued at $529,142.74. This trade represents a 4.55 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Helen M. Boudreau sold 2,500 shares of the company’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 value of $53,550.00. Following the completion of the sale, the director now owns 20,668 shares in the company, valued at $442,708.56. The trade was a 10.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 42,010 shares of company stock worth $916,911 over the last 90 days. 0.96% of the stock is owned by company insiders.

Hedge Funds Weigh In On Premier

A number of hedge funds have recently bought and sold shares of PINC. Brandes Investment Partners LP raised 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 worth $17,857,000 after buying an additional 464,710 shares during the last quarter. Quantinno Capital Management LP increased its holdings in shares of Premier by 249.8% in the 4th quarter. Quantinno Capital Management LP now owns 405,241 shares of the company’s stock worth $8,591,000 after purchasing an additional 289,408 shares in the last quarter. Franklin Resources Inc. purchased a new position in shares of Premier in the fourth quarter worth $5,275,000. Assenagon Asset Management S.A. lifted its holdings in shares of Premier by 109.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 468,524 shares of the company’s stock valued at $9,933,000 after purchasing an additional 245,239 shares in the last quarter. Finally, Millennium Management LLC boosted its position in shares of Premier by 142.8% during the fourth quarter. Millennium Management LLC now owns 402,566 shares of the company’s stock valued at $8,534,000 after buying an additional 236,787 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.