Redwood Investment Management LLC Acquires Shares of 172,726 Premier, Inc. (NASDAQ:PINC)

Redwood Investment Management LLC purchased a new stake in Premier, Inc. (NASDAQ:PINC - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 172,726 shares of the company's stock, valued at approximately $3,662,000. Redwood Investment Management LLC owned 0.18% of Premier as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Barclays PLC increased its position in Premier by 32.2% during the 3rd quarter. Barclays PLC now owns 154,128 shares of the company's stock valued at $3,081,000 after purchasing an additional 37,551 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Premier by 34.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 33,627 shares of the company's stock valued at $673,000 after purchasing an additional 8,560 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in Premier by 109.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 468,524 shares of the company's stock valued at $9,933,000 after buying an additional 245,239 shares during the period. Brooklyn Investment Group raised its stake in Premier by 61,750.0% in the fourth quarter. Brooklyn Investment Group now owns 1,237 shares of the company's stock worth $26,000 after buying an additional 1,235 shares in the last quarter. Finally, Kera Capital Partners Inc. bought a new position in Premier in the fourth quarter worth approximately $248,000. Institutional investors own 74.41% of the company's stock.

Premier Stock Performance

PINC stock traded up $0.11 on Tuesday, hitting $23.22. 373,669 shares of the company's stock were exchanged, compared to its average volume of 1,426,940. The firm has a 50 day moving average price of $20.09 and a two-hundred day moving average price of $20.67. Premier, Inc. has a 12-month low of $17.23 and a 12-month high of $23.56. The stock has a market cap of $1.91 billion, a P/E ratio of -232.13 and a beta of 0.54.

Premier Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, June 15th. Shareholders of record on Sunday, June 1st will be paid a dividend of $0.21 per share. The ex-dividend date is Friday, May 30th. This represents a $0.84 dividend on an annualized basis and a yield of 3.62%. Premier's payout ratio is 147.37%.

Analyst Upgrades and Downgrades

PINC has been the topic of several recent research reports. Canaccord Genuity Group increased their target price on Premier from $19.00 to $22.00 and gave the company a "hold" rating in a research report on Thursday, May 8th. Piper Sandler dropped their price objective on Premier from $21.00 to $19.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 5th. Finally, Robert W. Baird boosted their target price on shares of Premier from $19.00 to $22.00 and gave the stock a "neutral" rating in a report on Thursday, May 15th. Seven equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $21.20.

Insiders Place Their Bets

In related news, General Counsel David L. Klatsky sold 10,982 shares of the company's stock in a transaction 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 transaction, the general counsel now directly owns 76,093 shares of the company's stock, valued at $1,730,354.82. This represents a 12.61% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last quarter, insiders sold 22,119 shares of company stock valued at $464,974. Insiders own 0.96% of the company's stock.

Premier Company 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.