Ritholtz Wealth Management Purchases Shares of 47,577 Premier, Inc. (NASDAQ:PINC)

Ritholtz Wealth Management purchased a new stake in shares of Premier, Inc. (NASDAQ:PINC - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 47,577 shares of the company's stock, valued at approximately $917,000. Ritholtz Wealth Management owned about 0.05% of Premier as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of the business. Van ECK Associates Corp raised its stake in Premier by 28.0% during the fourth quarter. Van ECK Associates Corp now owns 2,041 shares of the company's stock worth $43,000 after buying an additional 446 shares during the last quarter. SRS Capital Advisors Inc. raised its stake in Premier by 157.8% during the fourth quarter. SRS Capital Advisors Inc. now owns 1,284 shares of the company's stock worth $27,000 after buying an additional 786 shares during the last quarter. Russell Investments Group Ltd. raised its stake in Premier by 40.4% during the fourth quarter. Russell Investments Group Ltd. now owns 4,371 shares of the company's stock worth $93,000 after buying an additional 1,257 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in Premier by 297.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,906 shares of the company's stock worth $40,000 after buying an additional 1,427 shares during the last quarter. Finally, Sterling Capital Management LLC raised its stake in Premier by 44.5% during the fourth quarter. Sterling Capital Management LLC now owns 5,737 shares of the company's stock worth $122,000 after buying an additional 1,767 shares during the last quarter. Institutional investors own 74.41% of the company's stock.

Premier Stock Up 0.1%

Shares of Premier stock traded up $0.02 during trading on Thursday, reaching $22.27. The company's stock had a trading volume of 1,777,976 shares, compared to its average volume of 1,260,500. Premier, Inc. has a 52-week low of $17.23 and a 52-week high of $23.56. The company has a market cap of $1.83 billion, a price-to-earnings ratio of 39.07 and a beta of 0.57. The firm's 50-day moving average is $21.85 and its two-hundred day moving average is $20.72.

Premier Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Sunday, June 15th. Investors of record on Sunday, June 1st were issued a dividend of $0.21 per share. The ex-dividend date was Friday, May 30th. This represents a $0.84 dividend on an annualized basis and a yield of 3.77%. Premier's dividend payout ratio is currently 147.37%.

Analysts Set New Price Targets

A number of equities research analysts have commented on PINC shares. Piper Sandler raised their price target on shares of Premier from $19.00 to $24.00 and gave the stock a "neutral" rating in a report on Wednesday, May 21st. Robert W. Baird lifted their price objective on shares of Premier from $19.00 to $22.00 and gave the stock a "neutral" rating in a research report on Thursday, May 15th. Finally, Canaccord Genuity Group lifted their price objective on shares of Premier from $19.00 to $22.00 and gave the stock a "hold" rating in a research report on Thursday, May 8th. Seven equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Premier has a consensus rating of "Hold" and an average target price of $22.20.

Insider Activity at Premier

In related news, Director John T. Bigalke sold 1,137 shares of the stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $23.03, for a total value of $26,185.11. Following the completion of the transaction, the director now directly owns 28,673 shares in the company, valued at $660,339.19. This trade represents a 3.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Helen M. Boudreau sold 2,000 shares of the stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $22.88, for a total transaction of $45,760.00. Following the completion of the transaction, the director now owns 18,668 shares of the company's stock, valued at approximately $427,123.84. The trade was a 9.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 24,119 shares of company stock worth $516,976 in the last three months. 0.96% of the stock is owned by insiders.

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.