Short Interest in Premier, Inc. (NASDAQ:PINC) Rises By 89.9%

Premier, Inc. (NASDAQ:PINC) saw a significant growth in short interest in February. As of February 28th, there was short interest totalling 18,930,000 shares, a growth of 89.9% from the February 13th total of 9,970,000 shares. Currently, 21.0% of the company’s stock are sold short. Based on an average daily trading volume, of 1,320,000 shares, the short-interest ratio is presently 14.3 days.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Robert W. Baird lowered 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. Piper Sandler cut their price objective on Premier from $21.00 to $19.00 and set a “neutral” rating on the stock in a report on Wednesday, February 5th. Finally, Canaccord Genuity Group dropped their target price on Premier from $21.00 to $19.00 and set a “hold” rating on the stock in a research report on Wednesday, February 5th. Eight research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $20.17.

Insider Buying and Selling

In related news, COO Leigh Anderson sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $21.88, for a total transaction of $437,600.00. Following the completion of the transaction, the chief operating officer now owns 111,707 shares in the company, valued at $2,444,149.16. The trade was a 15.19 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Helen M. Boudreau sold 2,500 shares of Premier stock in a transaction 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. This represents a 10.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,637 shares of company stock valued at $511,093 over the last 90 days. Corporate insiders own 0.96% of the company’s stock.

Hedge Funds Weigh In On Premier

Large investors have recently bought and sold shares of the business. Brandes Investment Partners LP increased its position in shares of Premier by 123.1% in the fourth quarter. Brandes Investment Partners LP now owns 842,326 shares of the company’s stock valued at $17,857,000 after buying an additional 464,710 shares in the last quarter. Quantinno Capital Management LP grew its stake in Premier by 249.8% in the 4th quarter. Quantinno Capital Management LP now owns 405,241 shares of the company’s stock valued at $8,591,000 after acquiring an additional 289,408 shares during the period. Franklin Resources Inc. purchased a new stake in Premier in the 4th quarter worth $5,275,000. Assenagon Asset Management S.A. raised its position in Premier by 109.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 468,524 shares of the company’s stock worth $9,933,000 after acquiring an additional 245,239 shares during the period. Finally, Millennium Management LLC lifted its holdings in 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 purchasing an additional 236,787 shares in the last quarter. Institutional investors and hedge funds own 74.41% of the company’s stock.

Premier Stock Up 1.1 %

Shares of NASDAQ PINC traded up $0.19 during midday trading on Friday, reaching $18.16. 1,347,985 shares of the stock were exchanged, compared to its average volume of 1,395,602. The firm has a market cap of $1.66 billion, a price-to-earnings ratio of -181.58 and a beta of 0.39. The firm has a 50-day simple moving average of $19.92 and a two-hundred day simple moving average of $20.58. Premier has a twelve month low of $17.23 and a twelve month high of $23.56.

Premier Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.63%. The ex-dividend date is Friday, February 28th. Premier’s dividend payout ratio (DPR) is presently -840.00%.

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.