Voya Investment Management LLC Increases Stock Holdings in Premier, Inc. $PINC

Key Points

• Voya Investment Management LLC has increased its holdings in Premier, Inc. by 17.5%, now owning 70,397 shares worth approximately $1.36 million.
• Various hedge funds have also made significant investments in Premier, with institutional investors collectively owning 74.41% of the company’s stock.
• The stock has seen target price adjustments, with Bank of America raising its target to $21.00 while maintaining an "underperform" rating.

Voya Investment Management LLC increased its holdings in Premier, Inc. (NASDAQ:PINC - Free Report) by 17.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 70,397 shares of the company's stock after purchasing an additional 10,468 shares during the period. Voya Investment Management LLC owned 0.09% of Premier worth $1,357,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Vestcor Inc acquired a new position in shares of Premier during the first quarter worth about $125,000. Atlas Capital Advisors Inc. bought a new position in shares of Premier during the first quarter valued at approximately $125,000. Versant Capital Management Inc grew its holdings in shares of Premier by 97.6% during the first quarter. Versant Capital Management Inc now owns 7,719 shares of the company's stock valued at $149,000 after purchasing an additional 3,813 shares during the last quarter. Neuberger Berman Group LLC boosted its position in shares of Premier by 16.7% during the first quarter. Neuberger Berman Group LLC now owns 11,183 shares of the company's stock worth $216,000 after buying an additional 1,604 shares during the period. Finally, Cooper Financial Group acquired a new position in shares of Premier during the first quarter worth approximately $221,000. Hedge funds and other institutional investors own 74.41% of the company's stock.

Wall Street Analyst Weigh In

PINC has been the subject of a number of research analyst reports. Bank of America upped their target price on Premier from $19.00 to $21.00 and gave the stock an "underperform" rating in a research report on Tuesday, August 19th. Piper Sandler boosted their target price on shares of Premier from $24.00 to $28.00 and gave the company a "neutral" rating in a research note on Monday, August 25th. Robert W. Baird upped their price target on shares of Premier from $22.00 to $27.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 20th. Leerink Partners upped their price target on shares of Premier from $24.00 to $26.00 and gave the stock a "market perform" rating in a research note on Tuesday, August 19th. Finally, UBS Group increased their target price on shares of Premier from $23.00 to $26.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 20th. Six analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Reduce" and an average price target of $25.29.

Insider Transactions at Premier

In other news, Director John T. Bigalke sold 1,137 shares of Premier stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $25.79, for a total transaction of $29,323.23. Following the transaction, the director directly owned 27,536 shares of the company's stock, valued at $710,153.44. This trade represents a 3.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Andy Brailo sold 6,521 shares of Premier stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $25.79, for a total transaction of $168,176.59. Following 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. Insiders have sold a total of 12,326 shares of company stock valued at $317,230 over the last three months. 0.96% of the stock is currently owned by corporate insiders.

Premier Price Performance

Shares of Premier stock opened at $28.25 on Tuesday. Premier, Inc. has a fifty-two week low of $17.23 and a fifty-two week high of $28.79. The firm has a market cap of $2.33 billion, a P/E ratio of 128.41 and a beta of 0.61. The firm has a 50 day simple moving average of $24.20 and a 200 day simple moving average of $22.13.

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 paid a $0.21 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.84 dividend on an annualized basis and a yield of 3.0%. Premier's dividend payout ratio (DPR) is presently 381.82%.

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.

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