Public Employees Retirement System of Ohio Has $95,000 Position in Premier, Inc. $PINC

Key Points

• The Public Employees Retirement System of Ohio reduced its position in Premier, Inc. by 87.3% in Q2, now holding 4,328 shares valued at approximately $95,000.
• Numerous institutional investors, including GAMMA Investing LLC and Assenagon Asset Management, increased their stakes in Premier during the same quarter.
• Recent analyst reports indicate mixed ratings on Premier, with price objectives raised but an average rating of "Reduce" and a consensus target price of $26.07.

Public Employees Retirement System of Ohio cut its position in Premier, Inc. (NASDAQ:PINC - Free Report) by 87.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,328 shares of the company's stock after selling 29,719 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Premier were worth $95,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC raised its position in shares of 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 buying an additional 1,333 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of Premier in the 2nd quarter valued at approximately $867,000. Exchange Traded Concepts LLC grew its holdings in shares of Premier by 4.3% during the 2nd quarter. Exchange Traded Concepts LLC now owns 108,031 shares of the company's stock valued at $2,369,000 after purchasing an additional 4,449 shares during the last quarter. Parallel Advisors LLC increased its position in Premier by 2,172.9% during the 2nd quarter. Parallel Advisors LLC now owns 2,932 shares of the company's stock worth $64,000 after purchasing an additional 2,803 shares in the last quarter. Finally, Voya Investment Management LLC increased its position in Premier by 17.5% during the 1st quarter. Voya Investment Management LLC now owns 70,397 shares of the company's stock worth $1,357,000 after purchasing an additional 10,468 shares in the last quarter. 74.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on PINC. 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 report on Tuesday, August 19th. Canaccord Genuity Group upped their price objective on shares of Premier from $25.00 to $28.25 and gave the stock a "hold" rating in a research report on Tuesday, September 23rd. UBS Group upped 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. 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 report on Monday, August 25th. Finally, Weiss Ratings reiterated a "hold (c-)" rating on shares of Premier in a research report on Saturday, September 27th. Seven research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Reduce" and a consensus target price of $26.07.

Premier Stock Up 0.2%

Premier stock opened at $27.91 on Wednesday. Premier, Inc. has a 12-month low of $17.23 and a 12-month high of $28.79. The firm's fifty day moving average is $25.68 and its 200 day moving average is $22.82. The company has a market capitalization of $2.30 billion, a PE ratio of 126.87 and a beta of 0.64.

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 issued a dividend of $0.21 per share. The ex-dividend date was Friday, August 29th. This represents a $0.84 annualized dividend and a yield of 3.0%. Premier's dividend payout ratio is presently 381.82%.

Insiders Place Their Bets

In other Premier news, General Counsel David L. Klatsky sold 3,349 shares of the company's stock in a transaction 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 transaction, the general counsel owned 97,257 shares in the company, valued at approximately $2,486,861.49. This represents a 3.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director John T. Bigalke sold 1,137 shares of the company'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 transaction, the director owned 27,536 shares in the company, 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. Over the last 90 days, insiders have sold 12,326 shares of company stock worth $317,230. Insiders own 0.96% of the company's stock.

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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