Caxton Associates LLP Invests $1.70 Million in Premier, Inc. $PINC

Key Points

• Caxton Associates LLP acquired 88,198 shares of Premier, Inc. for approximately $1.7 million, which represents a 0.10% ownership in the company as per their 13F filing.
• Insider trading activity saw Director John T. Bigalke and insider Andy Brailo selling a combined total of 7,658 shares recently, indicating a decrease in their ownership positions.
• Analysts have set new price targets for Premier, with Robert W. Baird increasing their target to $27.00, while several others maintain a consensus rating of "Hold."

Caxton Associates LLP bought a new stake in Premier, Inc. (NASDAQ:PINC - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 88,198 shares of the company's stock, valued at approximately $1,700,000. Caxton Associates LLP owned approximately 0.10% of Premier at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Royal Bank of Canada lifted its stake in shares of Premier by 2,482.1% in the 1st quarter. Royal Bank of Canada now owns 461,445 shares of the company's stock valued at $8,896,000 after acquiring an additional 443,574 shares during the last quarter. Millennium Management LLC increased its holdings in Premier by 101.2% in the 1st quarter. Millennium Management LLC now owns 809,939 shares of the company's stock worth $15,616,000 after purchasing an additional 407,373 shares in the last quarter. Brandywine Global Investment Management LLC bought a new position in Premier in the first quarter valued at about $6,414,000. American Century Companies Inc. boosted its stake in shares of Premier by 11.3% during the first quarter. American Century Companies Inc. now owns 2,891,710 shares of the company's stock valued at $55,752,000 after purchasing an additional 292,979 shares in the last quarter. Finally, Quantinno Capital Management LP boosted its stake in shares of Premier by 249.8% during the fourth quarter. Quantinno Capital Management LP now owns 405,241 shares of the company's stock valued at $8,591,000 after purchasing an additional 289,408 shares in the last quarter. Institutional investors own 74.41% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Canaccord Genuity Group raised their price objective on shares of Premier from $22.00 to $25.00 and gave the company a "hold" rating in a report on Wednesday, August 20th. Leerink Partners raised their price target on shares of Premier from $24.00 to $26.00 and gave the company a "market perform" rating in a research note on Tuesday, August 19th. Piper Sandler lifted their price target on shares of Premier from $24.00 to $28.00 and gave the stock a "neutral" rating in a report on Monday, August 25th. Robert W. Baird boosted their price objective 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. Finally, Bank of America raised their target price on Premier from $19.00 to $21.00 and gave the stock an "underperform" rating in a research report on Tuesday, August 19th. Six investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Reduce" and a consensus price target of $25.29.

Premier Price Performance

Shares of PINC traded down $0.21 during trading hours on Friday, hitting $26.60. 897,653 shares of the stock were exchanged, compared to its average volume of 1,810,580. Premier, Inc. has a fifty-two week low of $17.23 and a fifty-two week high of $28.79. The business has a 50-day moving average of $23.58 and a 200-day moving average of $21.76. The firm has a market capitalization of $2.20 billion, a P/E ratio of 120.91 and a beta of 0.61.

Premier Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 1st will be given a $0.21 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.84 annualized dividend and a dividend yield of 3.2%. Premier's dividend payout ratio (DPR) is 381.82%.

Insider Transactions at Premier

In other 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 transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Andy Brailo sold 6,521 shares of the firm'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 value of $168,176.59. Following the sale, the insider directly owned 99,447 shares of the company's stock, valued at $2,564,738.13. This represents a 6.15% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,326 shares of company stock valued at $317,230. Corporate insiders own 0.96% of the company's stock.

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.