Premier, Inc. (NASDAQ:PINC) Shares Purchased by Fmr LLC

Fmr LLC grew its position in shares of Premier, Inc. (NASDAQ:PINC) by 91.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 23,609 shares of the company’s stock after purchasing an additional 11,300 shares during the quarter. Fmr LLC’s holdings in Premier were worth $472,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC boosted its position in shares of Premier by 38.3% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 15,271 shares of the company’s stock worth $285,000 after buying an additional 4,231 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Premier by 15.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,927 shares of the company’s stock worth $540,000 after buying an additional 3,884 shares during the last quarter. Crossmark Global Holdings Inc. acquired a new position in shares of Premier during the 2nd quarter worth $1,043,000. nVerses Capital LLC bought a new position in Premier during the second quarter valued at about $56,000. Finally, TD Asset Management Inc raised its stake in shares of Premier by 35.4% in the 2nd quarter. TD Asset Management Inc now owns 42,800 shares of the company’s stock valued at $799,000 after acquiring an additional 11,200 shares in the last quarter. 74.41% of the stock is owned by institutional investors and hedge funds.

Premier Stock Down 0.2 %

PINC stock opened at $21.13 on Thursday. The business’s 50-day simple moving average is $21.49 and its 200 day simple moving average is $20.21. The company has a market cap of $2.03 billion, a PE ratio of 15.54 and a beta of 0.42. Premier, Inc. has a twelve month low of $17.95 and a twelve month high of $23.56.

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

Premier Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.98%. The ex-dividend date was Friday, November 29th. Premier’s dividend payout ratio is 61.76%.

Insider Transactions at Premier

In other news, Director John T. Bigalke sold 1,136 shares of the stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $22.19, for a total value of $25,207.84. Following the completion of the transaction, the director now directly owns 23,846 shares of the company’s stock, valued at approximately $529,142.74. This represents a 4.55 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Michael J. Alkire sold 18,374 shares of the business’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $21.80, for a total value of $400,553.20. Following the completion of the sale, the chief executive officer now directly owns 502,354 shares in the company, valued at approximately $10,951,317.20. This represents a 3.53 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 94,825 shares of company stock valued at $1,980,442. Company insiders own 0.96% of the company’s stock.

Wall Street Analyst Weigh In

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

Premier 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.