Wedge Capital Management L L P NC Has $2.50 Million Stake in Premier, Inc. $PINC

Key Points

• Wedge Capital Management has decreased its stake in Premier, Inc. (NASDAQ:PINC) by 14.0%, now owning 113,792 shares valued at approximately $2.50 million.
• Insiders of Premier recently sold a total of 12,326 shares worth approximately $317,230 in the last three months, indicating some insider selling activity.
• Premier recently declared a $0.21 quarterly dividend, representing an annualized rate of $0.84 and a dividend yield of 3.3%.

Wedge Capital Management L L P NC cut its holdings in Premier, Inc. (NASDAQ:PINC - Free Report) by 14.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 113,792 shares of the company's stock after selling 18,548 shares during the quarter. Wedge Capital Management L L P NC owned approximately 0.14% of Premier worth $2,495,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the business. CW Advisors LLC boosted its stake in shares of Premier by 1.8% during the 1st quarter. CW Advisors LLC now owns 26,166 shares of the company's stock worth $504,000 after acquiring an additional 454 shares in the last quarter. Baird Financial Group Inc. raised its stake in Premier by 1.7% during the 1st quarter. Baird Financial Group Inc. now owns 56,826 shares of the company's stock valued at $1,096,000 after acquiring an additional 972 shares in the last quarter. Neuberger Berman Group LLC boosted its holdings in 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 in the last quarter. Landscape Capital Management L.L.C. raised its stake in shares of Premier by 12.8% during the 1st quarter. Landscape Capital Management L.L.C. now owns 17,806 shares of the company's stock worth $343,000 after purchasing an additional 2,016 shares in the last quarter. Finally, Vise Technologies Inc. increased its holdings in shares of Premier by 20.9% during the 4th quarter. Vise Technologies Inc. now owns 13,238 shares of the company's stock worth $281,000 after purchasing an additional 2,286 shares during the period. 74.41% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Andy Brailo sold 6,521 shares of the firm's stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $25.79, for a total value of $168,176.59. Following the completion of the transaction, the insider directly owned 99,447 shares of the company's stock, valued at approximately $2,564,738.13. This trade represents a 6.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John T. Bigalke sold 1,137 shares of the company's stock in a transaction dated 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 owned 27,536 shares in the company, valued at approximately $710,153.44. This trade represents a 3.97% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,326 shares of company stock worth $317,230 in the last 90 days. 0.96% of the stock is owned by company insiders.

Premier Trading Up 9.7%

NASDAQ:PINC traded up $2.50 on Monday, hitting $28.25. 6,179,390 shares of the company's stock traded hands, compared to its average volume of 1,640,864. The company has a market cap of $2.33 billion, a PE ratio of 128.41 and a beta of 0.61. The firm has a 50-day moving average price of $24.20 and a 200-day moving average price of $22.13. Premier, Inc. has a 1 year low of $17.23 and a 1 year high of $28.79.

Premier Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 1st were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.84 annualized dividend and a yield of 3.0%. Premier's dividend payout ratio is 381.82%.

Analyst Ratings Changes

PINC has been the topic of several research analyst reports. 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 note on Wednesday, August 20th. Robert W. Baird boosted their target price on shares of Premier from $22.00 to $27.00 and gave the company a "neutral" rating in a research note on Wednesday, August 20th. Leerink Partners lifted their price objective 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. Canaccord Genuity Group increased their price objective on Premier from $22.00 to $25.00 and gave the company a "hold" rating in a report on Wednesday, August 20th. Finally, 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 report on Monday, August 25th. Six equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Reduce" and an average target price of $25.29.

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.