Landscape Capital Management L.L.C. Makes New Investment in Premier, Inc. (NASDAQ:PINC)

Landscape Capital Management L.L.C. acquired a new stake in Premier, Inc. (NASDAQ:PINC) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 15,790 shares of the company’s stock, valued at approximately $316,000.

A number of other institutional investors have also modified their holdings of the company. Pacer Advisors Inc. lifted its holdings in shares of Premier by 384.3% during the 2nd quarter. Pacer Advisors Inc. now owns 6,311,089 shares of the company’s stock valued at $117,828,000 after acquiring an additional 5,007,851 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Premier by 14.9% during the second quarter. Dimensional Fund Advisors LP now owns 5,951,043 shares of the company’s stock worth $111,105,000 after purchasing an additional 773,207 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Premier by 60.4% in the second quarter. American Century Companies Inc. now owns 2,051,578 shares of the company’s stock worth $38,303,000 after buying an additional 772,392 shares during the period. Invenomic Capital Management LP grew its stake in shares of Premier by 37.7% in the first quarter. Invenomic Capital Management LP now owns 1,027,437 shares of the company’s stock valued at $22,706,000 after buying an additional 281,131 shares in the last quarter. Finally, Edgestream Partners L.P. purchased a new stake in shares of Premier during the 2nd quarter valued at about $5,138,000. Hedge funds and other institutional investors own 74.41% of the company’s stock.

Insiders Place Their Bets

In related news, insider Andy Brailo sold 4,390 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $20.51, for a total transaction of $90,038.90. Following the completion of the transaction, the insider now owns 104,410 shares in the company, valued at $2,141,449.10. This trade represents a 4.03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael J. Alkire sold 19,362 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $20.83, for a total value of $403,310.46. Following the completion of the sale, the chief executive officer now owns 578,143 shares in the company, valued at $12,042,718.69. This trade represents a 3.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 141,537 shares of company stock worth $2,915,552 over the last 90 days. Corporate insiders own 0.96% of the company’s stock.

Premier Price Performance

Shares of Premier stock opened at $22.84 on Monday. The firm has a fifty day moving average price of $20.62 and a two-hundred day moving average price of $19.86. Premier, Inc. has a fifty-two week low of $17.95 and a fifty-two week high of $23.43. The company has a market cap of $2.20 billion, a PE ratio of 16.79, a price-to-earnings-growth ratio of 10.08 and a beta of 0.40.

Premier (NASDAQ:PINC) last released its earnings results on Tuesday, November 5th. The company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.09. The business had revenue of $248.14 million for the quarter, compared to the consensus estimate of $232.85 million. Premier had a return on equity of 10.74% and a net margin of 11.41%. The firm’s revenue for the quarter was down 7.8% compared to the same quarter last year. During the same period last year, the business earned $0.50 earnings per share. Analysts expect that Premier, Inc. will post 1.09 earnings per share for the current fiscal year.

Premier Dividend Announcement

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

Analysts Set New Price Targets

PINC has been the subject of several analyst reports. Canaccord Genuity Group upped their target price on shares of Premier from $19.00 to $21.00 and gave the company a “hold” rating in a research note on Wednesday, November 6th. Barclays boosted their price objective on shares of Premier from $20.00 to $24.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 6th. JPMorgan Chase & Co. cut their target price on Premier from $21.00 to $19.00 and set a “neutral” rating on the stock in a research note on Monday, September 9th. StockNews.com lowered Premier from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th. Finally, 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. Ten research analysts have rated the stock with a hold rating, According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $21.36.

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.