Premier, Inc. (NASDAQ:PINC) Shares Sold by Public Sector Pension Investment Board

Public Sector Pension Investment Board decreased its position in shares of Premier, Inc. (NASDAQ:PINC) by 3.6% during the third quarter, Holdings Channel.com reports. The firm owned 222,381 shares of the company’s stock after selling 8,200 shares during the period. Public Sector Pension Investment Board’s holdings in Premier were worth $4,448,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in PINC. GAMMA Investing LLC grew its position in Premier by 137.6% during the third quarter. GAMMA Investing LLC now owns 1,347 shares of the company’s stock valued at $27,000 after buying an additional 780 shares during the period. Versant Capital Management Inc increased its stake in Premier by 265.2% during the 2nd quarter. Versant Capital Management Inc now owns 2,140 shares of the company’s stock worth $40,000 after buying an additional 1,554 shares in the last quarter. Meeder Asset Management Inc. acquired a new position in shares of Premier during the second quarter valued at approximately $47,000. Abich Financial Wealth Management LLC lifted its position in shares of Premier by 37.0% in the second quarter. Abich Financial Wealth Management LLC now owns 2,672 shares of the company’s stock valued at $50,000 after acquiring an additional 721 shares in the last quarter. Finally, nVerses Capital LLC acquired a new stake in shares of Premier in the second quarter worth approximately $56,000. 74.41% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Michael J. Alkire sold 1,264 shares of the stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $20.01, for a total transaction of $25,292.64. Following the completion of the transaction, the chief executive officer now owns 558,143 shares of the company’s stock, valued at approximately $11,168,441.43. This trade represents a 0.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Leigh Anderson sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $19.62, for a total value of $392,400.00. Following the completion of the sale, the chief operating officer now directly owns 131,707 shares in the company, valued at approximately $2,584,091.34. The trade was a 13.18 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 126,067 shares of company stock valued at $2,599,100. 0.96% of the stock is currently owned by insiders.

Analysts Set New Price Targets

PINC has been the subject of several recent research reports. Barclays increased their price objective on Premier from $20.00 to $24.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 6th. StockNews.com downgraded shares of Premier from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th. Robert W. Baird boosted their price target on shares of Premier from $19.00 to $20.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. Canaccord Genuity Group raised their target price on shares of Premier from $19.00 to $21.00 and gave the stock a “hold” rating in a research note on Wednesday, November 6th. Finally, JPMorgan Chase & Co. dropped their price target on Premier from $21.00 to $19.00 and set a “neutral” rating for the company in a research report on Monday, September 9th. Ten investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $21.36.

Premier Price Performance

NASDAQ:PINC opened at $22.83 on Tuesday. The company’s 50-day moving average is $20.88 and its two-hundred day moving average is $19.97. Premier, Inc. has a 1-year low of $17.95 and a 1-year high of $23.56. The firm has a market capitalization of $2.19 billion, a price-to-earnings ratio of 16.79, a PEG ratio of 10.30 and a beta of 0.40.

Premier (NASDAQ:PINC) last released its quarterly earnings data on Tuesday, November 5th. The company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.09. The firm had revenue of $248.14 million for the quarter, compared to analysts’ expectations of $232.85 million. Premier had a return on equity of 10.74% and a net margin of 11.41%. The firm’s quarterly revenue was down 7.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.50 earnings per share. As a group, equities analysts anticipate that Premier, Inc. will post 1.09 earnings per share for the current fiscal year.

Premier Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.68%. The ex-dividend date of this dividend is Friday, November 29th. Premier’s dividend payout ratio is presently 61.77%.

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.