Premier, Inc. $PINC Shares Purchased by Ritholtz Wealth Management

Key Points

• Ritholtz Wealth Management increased its stake in Premier, Inc. by 255.8% during the second quarter, holding a total of 169,260 shares valued at approximately $3.71 million.
• The stock has experienced a 0.6% decline, currently trading at $27.84 with a market cap of $2.30 billion and a P/E ratio of 126.55.
• Premier announced a quarterly dividend of $0.21 per share, leading to an annualized dividend yield of 3.0% and a payout ratio of 381.82%.

Ritholtz Wealth Management grew its holdings in Premier, Inc. (NASDAQ:PINC - Free Report) by 255.8% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 169,260 shares of the company's stock after buying an additional 121,683 shares during the period. Ritholtz Wealth Management owned 0.21% of Premier worth $3,712,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Signaturefd LLC raised its holdings 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 acquiring an additional 921 shares during the last quarter. GAMMA Investing LLC raised its holdings 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 acquiring an additional 1,333 shares during the last quarter. Parallel Advisors LLC increased its holdings in shares of 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 purchasing an additional 2,803 shares during the last quarter. Vestcor Inc acquired a new stake in shares of Premier in the first quarter valued at approximately $125,000. Finally, Atlas Capital Advisors Inc. acquired a new stake in shares of Premier in the first quarter valued at approximately $125,000. 74.41% of the stock is currently owned by institutional investors and hedge funds.

Premier Trading Down 0.6%

NASDAQ PINC opened at $27.84 on Thursday. The stock has a market cap of $2.30 billion, a PE ratio of 126.55 and a beta of 0.64. The stock has a fifty day simple moving average of $26.44 and a 200-day simple moving average of $23.16. Premier, Inc. has a twelve month low of $17.23 and a twelve month high of $28.79.

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

Premier Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 1st were given 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 dividend payout ratio (DPR) is presently 381.82%.

Insider Transactions at Premier

In other news, Director John T. Bigalke sold 1,137 shares of the firm's stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $25.79, for a total transaction of $29,323.23. Following the completion of the transaction, the director directly owned 27,536 shares in the company, valued at $710,153.44. This trade represents a 3.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Andy Brailo sold 6,521 shares of the firm's stock in a transaction dated 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 owned 99,447 shares of the company's stock, valued at $2,564,738.13. This trade represents a 6.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 12,326 shares of company stock worth $317,230 over the last ninety days. Company insiders own 0.96% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Canaccord Genuity Group increased their price target on Premier from $25.00 to $28.25 and gave the company a "hold" rating in a report on Tuesday, September 23rd. Piper Sandler raised their target price on Premier from $24.00 to $28.00 and gave the stock a "neutral" rating in a research note on Monday, August 25th. Weiss Ratings restated a "hold (c-)" rating on shares of Premier in a research report on Wednesday, October 8th. Leerink Partners raised their price objective on shares of Premier from $24.00 to $26.00 and gave the stock a "market perform" rating in a research report on Tuesday, August 19th. Finally, UBS Group raised their price objective on shares of Premier from $26.00 to $28.25 and gave the stock a "neutral" rating in a research report on Thursday, September 25th. Seven research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Premier currently has an average rating of "Reduce" and a consensus 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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