Inspire Investing LLC Has $1.24 Million Position in Premier, Inc. $PINC

Key Points

• Inspire Investing LLC increased its stake in Premier, Inc. by 214.4%, owning approximately $1.24 million worth of the company as of the latest SEC filing.
• Several other institutional investors have also significantly expanded their holdings in Premier during the second quarter, highlighting increased interest in the company.
• Premier recently disclosed a quarterly dividend of $0.21 per share, reflecting an annualized yield of 3.0%, although its payout ratio is notably high at 381.82%.

Inspire Investing LLC grew its stake in shares of Premier, Inc. (NASDAQ:PINC - Free Report) by 214.4% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 56,325 shares of the company's stock after buying an additional 38,409 shares during the period. Inspire Investing LLC owned approximately 0.07% of Premier worth $1,235,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Signaturefd LLC increased its stake in Premier by 72.2% in 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 period. GAMMA Investing LLC increased its stake in Premier by 112.1% in the second quarter. GAMMA Investing LLC now owns 2,522 shares of the company's stock valued at $55,000 after acquiring an additional 1,333 shares during the period. Parallel Advisors LLC increased its stake in Premier by 2,172.9% in the second 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 during the period. Vestcor Inc bought a new stake in Premier in the first quarter valued at about $125,000. Finally, Atlas Capital Advisors Inc. bought a new stake in Premier in the first quarter valued at about $125,000. Institutional investors own 74.41% of the company's stock.

Insider Buying and Selling 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 shares were sold at an average price of $25.79, for a total value of $168,176.59. Following the transaction, the insider directly owned 99,447 shares of the company's stock, valued at approximately $2,564,738.13. This trade represents a 6.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel David L. Klatsky sold 3,349 shares of the firm's stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $25.57, for a total transaction of $85,633.93. Following the completion of the transaction, the general counsel directly owned 97,257 shares in the company, valued at approximately $2,486,861.49. The trade was a 3.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,326 shares of company stock valued at $317,230. 0.96% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PINC. Robert W. Baird upped their target price on shares of Premier from $22.00 to $27.00 and gave the company a "neutral" rating in a research note on Wednesday, August 20th. Weiss Ratings reissued a "hold (c-)" rating on shares of Premier in a research note on Wednesday. Canaccord Genuity Group upped their target price on shares of Premier from $25.00 to $28.25 and gave the company a "hold" rating in a research note on Tuesday, September 23rd. Piper Sandler upped their price objective on shares of Premier from $24.00 to $28.00 and gave the stock a "neutral" rating in a research note on Monday, August 25th. Finally, Bank of America upped their price objective on shares of Premier from $19.00 to $21.00 and gave the stock an "underperform" rating in a research note on Tuesday, August 19th. Seven equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Premier presently has a consensus rating of "Reduce" and an average price target of $26.07.

Premier Trading Down 0.4%

Shares of Premier stock opened at $27.78 on Friday. The stock has a market capitalization of $2.29 billion, a price-to-earnings ratio of 126.28 and a beta of 0.64. Premier, Inc. has a 1-year low of $17.23 and a 1-year high of $28.79. The firm's 50-day moving average price is $26.07 and its two-hundred day moving average price is $23.01.

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

Premier Dividend Announcement

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

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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