Friedenthal Financial Makes New $976,000 Investment in Premier, Inc. $PINC

Key Points

• Friedenthal Financial made a new investment in Premier, Inc., acquiring 44,484 shares valued at approximately $976,000, reflecting a 0.05% ownership stake.
• Insider trading activity included sales by Andy Brailo and John T. Bigalke, with a total of 12,326 shares sold in the last ninety days.
• Premier's stock has a market cap of $2.30 billion, a P/E ratio of 126.87, and an annualized dividend yield of 3.0%.

Friedenthal Financial acquired a new position in Premier, Inc. (NASDAQ:PINC - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 44,484 shares of the company's stock, valued at approximately $976,000. Friedenthal Financial owned approximately 0.05% of Premier as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of PINC. OLD National Bancorp IN grew its holdings in Premier by 8.2% in the second quarter. OLD National Bancorp IN now owns 13,136 shares of the company's stock valued at $288,000 after purchasing an additional 996 shares during the last quarter. QRG Capital Management Inc. boosted its stake in shares of Premier by 33.1% during the second quarter. QRG Capital Management Inc. now owns 21,663 shares of the company's stock valued at $475,000 after acquiring an additional 5,387 shares during the last quarter. Signaturefd LLC boosted its stake in shares of Premier by 72.2% during the second quarter. Signaturefd LLC now owns 2,197 shares of the company's stock valued at $48,000 after acquiring an additional 921 shares during the last quarter. 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 worth $55,000 after buying an additional 1,333 shares during the last quarter. Finally, Assenagon Asset Management S.A. acquired a new stake in Premier in the 2nd quarter worth about $867,000. Hedge funds and other institutional investors own 74.41% of the company's stock.

Insider Activity at Premier

In other Premier news, 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 transaction of $168,176.59. Following the completion of the sale, the insider owned 99,447 shares in the company, valued at $2,564,738.13. This trade represents a 6.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John T. Bigalke sold 1,137 shares of the firm's stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $25.79, for a total value of $29,323.23. Following the sale, the director owned 27,536 shares of the company's stock, valued at approximately $710,153.44. This trade represents a 3.97% decrease in their position. The disclosure for this sale can be found here. 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.

Premier Stock Performance

Shares of NASDAQ:PINC opened at $27.91 on Wednesday. The company has a market cap of $2.30 billion, a P/E ratio of 126.87 and a beta of 0.64. Premier, Inc. has a one year low of $17.23 and a one year high of $28.79. The business's 50-day simple moving average is $25.68 and its 200 day simple moving average is $22.82.

Premier Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 1st were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 3.0%. The ex-dividend date was Friday, August 29th. Premier's dividend payout ratio (DPR) is presently 381.82%.

Analyst Upgrades and Downgrades

PINC has been the topic of a number of research analyst reports. Bank of America raised their price target on Premier from $19.00 to $21.00 and gave the stock an "underperform" rating in a research note on Tuesday, August 19th. Leerink Partners raised their price objective on Premier from $24.00 to $26.00 and gave the stock a "market perform" rating in a report on Tuesday, August 19th. Weiss Ratings restated a "hold (c-)" rating on shares of Premier in a report on Saturday, September 27th. Canaccord Genuity Group raised their price objective on Premier from $25.00 to $28.25 and gave the stock a "hold" rating in a report on Tuesday, September 23rd. Finally, Piper Sandler raised their price objective on Premier from $24.00 to $28.00 and gave the stock a "neutral" rating in a report on Monday, August 25th. Seven equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Reduce" and an average price target of $26.07.

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.

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