State of Wyoming Raises Stock Holdings in Premier, Inc. $PINC

Key Points

• The State of Wyoming increased its holdings in Premier, Inc. ($PINC) by 156.1% during the first quarter, now owning 19,583 shares valued at $378,000.
• Wall Street analysts have raised their price targets for Premier, with an average target now at $24.50 following multiple "hold" and "neutral" ratings.
• Premier recently announced a quarterly dividend of $0.21 per share, representing a yield of 3.2%, despite a high payout ratio of 381.82%.

State of Wyoming lifted its position in shares of Premier, Inc. (NASDAQ:PINC - Free Report) by 156.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,583 shares of the company's stock after purchasing an additional 11,935 shares during the quarter. State of Wyoming's holdings in Premier were worth $378,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vestcor Inc acquired a new stake in shares of Premier during the 1st quarter worth approximately $125,000. Atlas Capital Advisors Inc. purchased a new position in shares of Premier during the 1st quarter valued at approximately $125,000. Versant Capital Management Inc lifted its position in shares of Premier by 97.6% during the 1st quarter. Versant Capital Management Inc now owns 7,719 shares of the company's stock valued at $149,000 after buying an additional 3,813 shares in the last quarter. Occudo Quantitative Strategies LP purchased a new position in shares of Premier during the 4th quarter valued at approximately $229,000. Finally, Neuberger Berman Group LLC lifted its position in shares of Premier by 16.7% during the 1st quarter. Neuberger Berman Group LLC now owns 11,183 shares of the company's stock valued at $216,000 after buying an additional 1,604 shares in the last quarter. Institutional investors and hedge funds own 74.41% of the company's stock.

Premier Stock Down 1.2%

NASDAQ PINC traded down $0.30 during trading on Wednesday, hitting $25.59. The stock had a trading volume of 1,762,574 shares, compared to its average volume of 1,856,743. The company has a market capitalization of $2.11 billion, a PE ratio of 116.32 and a beta of 0.61. The firm has a 50 day moving average price of $22.91 and a 200 day moving average price of $21.31. Premier, Inc. has a twelve month low of $17.23 and a twelve month high of $27.26.

Premier Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 1st will be paid a dividend of $0.21 per share. The ex-dividend date is Friday, August 29th. This represents a $0.84 annualized dividend and a yield of 3.3%. Premier's payout ratio is presently 381.82%.

Insiders Place Their Bets

In related news, General Counsel David L. Klatsky sold 1,319 shares of the business's stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $25.85, for a total transaction of $34,096.15. Following the completion of the sale, the general counsel owned 94,331 shares in the company, valued at $2,438,456.35. The trade was a 1.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.96% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on PINC shares. Leerink Partners increased their target price on Premier from $24.00 to $26.00 and gave the company a "market perform" rating in a research report on Tuesday, August 19th. Canaccord Genuity Group increased their target price on Premier from $22.00 to $25.00 and gave the company a "hold" rating in a research report on Wednesday, August 20th. UBS Group increased their target price on Premier from $23.00 to $26.00 and gave the company a "neutral" rating in a research report on Wednesday, August 20th. Piper Sandler increased their target price on Premier from $24.00 to $28.00 and gave the company a "neutral" rating in a research report on Monday, August 25th. Finally, Robert W. Baird raised their price objective on Premier from $22.00 to $27.00 and gave the company a "neutral" rating in a report on Wednesday, August 20th. Seven research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Reduce" and a consensus target price of $24.50.

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.