Premier, Inc. (NASDAQ:PINC) Shares Acquired by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC raised its position in Premier, Inc. (NASDAQ:PINC - Free Report) by 35.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 132,340 shares of the company's stock after purchasing an additional 34,714 shares during the quarter. Wedge Capital Management L L P NC owned 0.14% of Premier worth $2,552,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. SRS Capital Advisors Inc. raised its holdings in shares of Premier by 157.8% during the 4th quarter. SRS Capital Advisors Inc. now owns 1,284 shares of the company's stock valued at $27,000 after buying an additional 786 shares during the period. Smartleaf Asset Management LLC raised its holdings in shares of Premier by 297.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,906 shares of the company's stock valued at $40,000 after buying an additional 1,427 shares during the period. Van ECK Associates Corp raised its holdings in shares of Premier by 28.0% during the 4th quarter. Van ECK Associates Corp now owns 2,041 shares of the company's stock valued at $43,000 after buying an additional 446 shares during the period. Aster Capital Management DIFC Ltd purchased a new stake in shares of Premier during the 4th quarter valued at about $52,000. Finally, New Age Alpha Advisors LLC purchased a new stake in shares of Premier during the 4th quarter valued at about $82,000. 74.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PINC has been the topic of several analyst reports. Robert W. Baird raised their target price on Premier from $19.00 to $22.00 and gave the company a "neutral" rating in a report on Thursday, May 15th. Canaccord Genuity Group raised their target price on Premier from $19.00 to $22.00 and gave the company a "hold" rating in a report on Thursday, May 8th. Finally, Piper Sandler raised their target price on Premier from $19.00 to $24.00 and gave the company a "neutral" rating in a report on Wednesday, May 21st. Seven analysts have rated the stock with a hold rating, According to MarketBeat.com, Premier currently has an average rating of "Hold" and an average price target of $22.20.

Premier Trading Up 0.2%

PINC stock traded up $0.04 during midday trading on Friday, hitting $22.57. 1,337,662 shares of the company's stock were exchanged, compared to its average volume of 1,258,568. Premier, Inc. has a 12-month low of $17.23 and a 12-month high of $23.56. The firm has a 50 day moving average price of $21.62 and a 200-day moving average price of $20.74. The stock has a market capitalization of $1.86 billion, a price-to-earnings ratio of -225.68 and a beta of 0.57.

Premier Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, June 15th. Shareholders of record on Sunday, June 1st will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.84 annualized dividend and a yield of 3.72%. Premier's dividend payout ratio is presently 147.37%.

Insiders Place Their Bets

In other news, Director Helen M. Boudreau sold 2,000 shares of Premier stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $22.88, for a total value of $45,760.00. Following the completion of the transaction, the director now owns 18,668 shares in the company, valued at approximately $427,123.84. This trade represents a 9.68% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel David L. Klatsky sold 10,982 shares of Premier stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $22.74, for a total value of $249,730.68. Following the completion of the transaction, the general counsel now owns 76,093 shares of the company's stock, valued at approximately $1,730,354.82. The trade was a 12.61% decrease in their position. The disclosure for this sale can be found here. Insiders have 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.