Premier, Inc. (NASDAQ:PINC) Short Interest Down 13.2% in March

Premier, Inc. (NASDAQ:PINC) was the target of a significant decline in short interest in the month of March. As of March 15th, there was short interest totalling 16,430,000 shares, a decline of 13.2% from the February 28th total of 18,930,000 shares. Based on an average daily volume of 1,500,000 shares, the short-interest ratio is currently 11.0 days. Currently, 18.3% of the shares of the company are short sold.

Premier Stock Up 0.2 %

PINC traded up $0.03 during midday trading on Thursday, reaching $19.58. 168,519 shares of the company’s stock were exchanged, compared to its average volume of 1,245,465. Premier has a one year low of $17.23 and a one year high of $23.56. The firm has a market capitalization of $1.79 billion, a price-to-earnings ratio of -195.78 and a beta of 0.39. The business has a 50-day simple moving average of $19.17 and a two-hundred day simple moving average of $20.46.

Premier Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 4.29%. The ex-dividend date of this dividend was Friday, February 28th. Premier’s payout ratio is -840.00%.

Insider Transactions at Premier

In other news, 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 transaction of $53,550.00. Following the completion of the transaction, the director now directly owns 20,668 shares in the company, valued at $442,708.56. The trade was a 10.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.96% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Premier

Several institutional investors have recently added to or reduced their stakes in the company. Brooklyn Investment Group increased its holdings in shares of Premier by 61,750.0% during the fourth quarter. Brooklyn Investment Group now owns 1,237 shares of the company’s stock worth $26,000 after buying an additional 1,235 shares in the last quarter. SRS Capital Advisors Inc. grew its position in Premier by 157.8% during the 4th quarter. SRS Capital Advisors Inc. now owns 1,284 shares of the company’s stock worth $27,000 after acquiring an additional 786 shares during the last quarter. Keystone Financial Group Inc. acquired a new stake in Premier during the 4th quarter valued at $37,000. Wilmington Savings Fund Society FSB bought a new position in Premier in the 3rd quarter valued at $39,000. Finally, Smartleaf Asset Management LLC raised its position in Premier by 297.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,906 shares of the company’s stock valued at $40,000 after purchasing an additional 1,427 shares during the last quarter. 74.41% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on PINC. Piper Sandler reduced their price target on shares of Premier from $21.00 to $19.00 and set a “neutral” rating for the company in a 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 research note on Wednesday, February 5th. Finally, Canaccord Genuity Group lowered their price target on Premier from $21.00 to $19.00 and set a “hold” rating on the stock in a research note on Wednesday, February 5th. Eight analysts have rated the stock with a hold rating, According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $20.17.

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.