Bayforest Capital Ltd Purchases 9,884 Shares of Premier, Inc. $PINC

Bayforest Capital Ltd boosted its position in Premier, Inc. (NASDAQ:PINC - Free Report) by 4,432.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,107 shares of the company's stock after purchasing an additional 9,884 shares during the quarter. Bayforest Capital Ltd's holdings in Premier were worth $222,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in PINC. Signaturefd LLC boosted its stake in Premier by 72.2% in the 2nd quarter. Signaturefd LLC now owns 2,197 shares of the company's stock valued at $48,000 after purchasing an additional 921 shares during the period. GAMMA Investing LLC boosted its stake in Premier by 112.1% in the 2nd quarter. GAMMA Investing LLC now owns 2,522 shares of the company's stock valued at $55,000 after purchasing an additional 1,333 shares during the period. Parallel Advisors LLC raised its holdings in Premier by 2,172.9% in the 2nd quarter. Parallel Advisors LLC now owns 2,932 shares of the company's stock valued at $64,000 after acquiring an additional 2,803 shares in the last quarter. Vestcor Inc acquired a new position in Premier in the 1st quarter valued at $125,000. Finally, Atlas Capital Advisors Inc. acquired a new stake in shares of Premier during the 1st quarter worth $125,000. 74.41% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Premier news, insider Andy Brailo sold 6,521 shares of the company'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 $168,176.59. Following the completion of the transaction, the insider 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John T. Bigalke sold 1,137 shares of the company'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 transaction, the director directly owned 27,536 shares of the company's stock, valued at approximately $710,153.44. The trade was a 3.97% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 12,326 shares of company stock valued at $317,230 in the last 90 days. Corporate insiders own 0.96% of the company's stock.

Premier Stock Performance

Premier stock opened at $27.86 on Friday. Premier, Inc. has a 52 week low of $17.23 and a 52 week high of $28.79. The stock has a market capitalization of $2.30 billion, a P/E ratio of 126.64 and a beta of 0.64. The stock has a fifty day moving average of $26.55 and a 200-day moving average of $23.22.

Premier (NASDAQ:PINC - Get Free Report) last posted its quarterly earnings results on Tuesday, January 14th. The company reported $0.67 EPS for the quarter. Premier had a return on equity of 7.04% and a net margin of 2.00%.The company had revenue of ($713.06) million during the quarter. On average, research analysts forecast that Premier, Inc. will post 1.13 earnings per share for the current year.

Premier Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 1st were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.0%. Premier's payout ratio is 381.82%.

Wall Street Analyst Weigh In

PINC has been the topic of a number of recent analyst reports. Canaccord Genuity Group raised their price target on Premier from $25.00 to $28.25 and gave the stock a "hold" rating in a research report on Tuesday, September 23rd. Piper Sandler raised their price target on Premier from $24.00 to $28.00 and gave the stock a "neutral" rating in a research report on Monday, August 25th. UBS Group raised their price target on Premier from $26.00 to $28.25 and gave the stock a "neutral" rating in a research report on Thursday, September 25th. Weiss Ratings restated a "hold (c-)" rating on shares of Premier in a research report on Wednesday, October 8th. Finally, Leerink Partners raised their price target on Premier from $24.00 to $26.00 and gave the stock a "market perform" rating in a research report on Tuesday, August 19th. Seven research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Premier currently has an average rating of "Reduce" and an average target price of $26.07.

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.

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