12,121 Shares in Premier, Inc. $PINC Purchased by Quarry LP

Key Points

• Quarry LP recently acquired a stake in Premier, Inc., purchasing 12,121 shares valued at approximately $234,000 during the first quarter of the year.
• Premier, Inc. announced a quarterly dividend of $0.21 per share, resulting in an annualized dividend yield of 3.2%, with the ex-dividend date set for August 29th.
• Equity analysts have increased their price targets for Premier, with UBS Group setting a new target of $26.00 and Piper Sandler raising theirs to $28.00, while the stock currently has an average price target of $24.50.

Quarry LP acquired a new position in shares of Premier, Inc. (NASDAQ:PINC - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 12,121 shares of the company's stock, valued at approximately $234,000.

Several other hedge funds have also recently made changes to their positions in the company. American Century Companies Inc. lifted its position in Premier by 11.3% during the 1st quarter. American Century Companies Inc. now owns 2,891,710 shares of the company's stock worth $55,752,000 after acquiring an additional 292,979 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Premier by 4.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,897,424 shares of the company's stock worth $36,582,000 after purchasing an additional 84,016 shares during the last quarter. LSV Asset Management raised its stake in shares of Premier by 9.2% in the first quarter. LSV Asset Management now owns 1,392,700 shares of the company's stock worth $26,851,000 after purchasing an additional 117,398 shares during the last quarter. Alps Advisors Inc. lifted its holdings in shares of Premier by 7.8% during the first quarter. Alps Advisors Inc. now owns 921,163 shares of the company's stock worth $17,760,000 after purchasing an additional 66,391 shares during the period. Finally, Bridgeway Capital Management LLC boosted its position in Premier by 3.0% in the fourth quarter. Bridgeway Capital Management LLC now owns 762,337 shares of the company's stock valued at $16,162,000 after buying an additional 21,861 shares during the last quarter. 74.41% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Premier

In other Premier 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 value of $29,323.23. Following the transaction, the director owned 27,536 shares in the company, valued at approximately $710,153.44. This trade represents a 3.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Andy Brailo sold 6,521 shares of the firm's stock in a transaction dated 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 transaction, the insider directly owned 99,447 shares in the company, valued at approximately $2,564,738.13. This represents a 6.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,326 shares of company stock valued at $317,230. 0.96% of the stock is owned by insiders.

Premier Price Performance

PINC stock traded up $0.69 during mid-day trading on Thursday, reaching $26.28. 1,128,188 shares of the company's stock were exchanged, compared to its average volume of 1,859,272. Premier, Inc. has a 12-month low of $17.23 and a 12-month high of $27.26. The stock's 50 day moving average is $23.00 and its 200 day moving average is $21.37. The company has a market cap of $2.17 billion, a price-to-earnings ratio of 119.46 and a beta of 0.61.

Premier Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 1st will be paid a $0.21 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.2%. Premier's payout ratio is currently 381.82%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on PINC. Leerink Partners raised their price target 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. Bank of America upped their price target on shares of Premier from $19.00 to $21.00 and gave the company an "underperform" rating in a report on Tuesday, August 19th. Robert W. Baird lifted their price objective on Premier from $22.00 to $27.00 and gave the company a "neutral" rating in a research note on Wednesday, August 20th. Piper Sandler upped 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. Finally, Canaccord Genuity Group raised their target price on Premier from $22.00 to $25.00 and gave the stock a "hold" rating in a report on Wednesday, August 20th. Seven investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Reduce" and a consensus target price of $24.50.

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.