21,146 Shares in Premier, Inc. $PINC Acquired by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd acquired a new position in Premier, Inc. (NASDAQ:PINC) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 21,146 shares of the company’s stock, valued at approximately $464,000.

A number of other institutional investors and hedge funds have also made changes to their positions in PINC. Envestnet Asset Management Inc. lifted its position in shares of Premier by 6.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 50,391 shares of the company’s stock valued at $1,105,000 after buying an additional 2,961 shares in the last quarter. Cullen Frost Bankers Inc. purchased a new position in shares of Premier in the second quarter valued at approximately $67,000. Nordea Investment Management AB boosted its stake in shares of Premier by 0.6% in the second quarter. Nordea Investment Management AB now owns 257,389 shares of the company’s stock worth $5,602,000 after acquiring an additional 1,627 shares during the last quarter. Allianz Asset Management GmbH increased its position in shares of Premier by 31.1% during the second quarter. Allianz Asset Management GmbH now owns 739,509 shares of the company’s stock worth $16,217,000 after purchasing an additional 175,589 shares in the last quarter. Finally, Ritholtz Wealth Management lifted its holdings in Premier by 255.8% in the 2nd quarter. Ritholtz Wealth Management now owns 169,260 shares of the company’s stock valued at $3,712,000 after purchasing an additional 121,683 shares in the last quarter. 74.41% of the stock is currently owned by hedge funds and other institutional investors.

Premier Stock Performance

PINC stock opened at $28.14 on Friday. Premier, Inc. has a one year low of $17.23 and a one year high of $28.79. The stock has a market capitalization of $2.32 billion, a P/E ratio of -104.22 and a beta of 0.64. The company has a 50 day moving average price of $27.46 and a two-hundred day moving average price of $24.16.

Premier (NASDAQ:PINC) last released its earnings results on Tuesday, January 14th. The company reported $0.67 earnings per share for the quarter. Premier had a positive return on equity of 6.84% and a negative net margin of 3.28%.The firm had revenue of ($713.06) million for the quarter. Research analysts forecast that Premier, Inc. will post 1.13 earnings per share for the current fiscal year.

Premier Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 1st were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 3.0%. The ex-dividend date was Friday, August 29th. Premier’s dividend payout ratio is currently -311.11%.

Insider Activity at Premier

In related news, Director John T. Bigalke sold 1,137 shares of the business’s stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $25.79, for a total value of $29,323.23. Following the completion of the sale, the director directly owned 27,536 shares of the company’s stock, valued at $710,153.44. The trade was a 3.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Andy Brailo sold 6,521 shares of the company’s stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $25.79, for a total transaction of $168,176.59. Following the completion of the sale, the insider directly owned 99,447 shares of the company’s stock, valued at approximately $2,564,738.13. This represents a 6.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 12,326 shares of company stock worth $317,230. 0.96% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PINC. Weiss Ratings restated a “hold (c-)” rating on shares of Premier in a research report on Wednesday, October 8th. Canaccord Genuity Group increased their price objective on Premier from $25.00 to $28.25 and gave the company a “hold” rating in a report on Tuesday, September 23rd. Bank of America upped their price target on shares of Premier from $19.00 to $21.00 and gave the company an “underperform” rating in a research report on Tuesday, August 19th. Leerink Partners raised their price objective on shares of Premier from $24.00 to $26.00 and gave the stock a “market perform” rating in a research report on Tuesday, August 19th. Finally, Robert W. Baird boosted their price target on shares of Premier from $22.00 to $27.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 20th. Six research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Premier has an average rating of “Reduce” and an average price target of $26.46.

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.