Redwood Investment Management LLC Makes New $3.66 Million Investment in Premier, Inc. (NASDAQ:PINC)

Redwood Investment Management LLC bought a new position in shares of Premier, Inc. (NASDAQ:PINC - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 172,726 shares of the company's stock, valued at approximately $3,662,000. Redwood Investment Management LLC owned approximately 0.18% of Premier as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Premier in the 4th quarter worth about $386,000. Steward Partners Investment Advisory LLC purchased a new stake in shares of Premier in the fourth quarter valued at approximately $554,000. KBC Group NV raised its stake in shares of Premier by 38.1% during the 4th quarter. KBC Group NV now owns 5,589 shares of the company's stock worth $118,000 after buying an additional 1,542 shares during the period. Kera Capital Partners Inc. purchased a new position in shares of Premier during the 4th quarter valued at approximately $248,000. Finally, Caprock Group LLC purchased a new position in shares of Premier during the 4th quarter valued at approximately $292,000. 74.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have weighed in on PINC. Robert W. Baird reduced their price objective on shares of Premier from $20.00 to $19.00 and set a "neutral" rating for the company in a research report on Wednesday, February 5th. Canaccord Genuity Group upped their price target on shares of Premier from $19.00 to $22.00 and gave the stock a "hold" rating in a research report on Thursday, May 8th. Finally, Piper Sandler decreased their price target on shares of Premier from $21.00 to $19.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 5th. Seven research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $20.60.

Insider Buying and Selling

In other Premier news, General Counsel David L. Klatsky sold 10,982 shares of the stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $22.74, for a total value of $249,730.68. Following the completion of the sale, the general counsel now owns 76,093 shares in the company, valued at approximately $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 accessible through the SEC website. Over the last three months, insiders have sold 22,119 shares of company stock worth $464,974. 0.96% of the stock is owned by insiders.

Premier Stock Performance

Shares of PINC stock opened at $22.52 on Thursday. Premier, Inc. has a fifty-two week low of $17.23 and a fifty-two week high of $23.56. The firm has a market capitalization of $2.06 billion, a P/E ratio of -225.18 and a beta of 0.54. The stock's fifty day moving average is $19.81 and its two-hundred day moving average is $20.60.

Premier Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, June 15th. Stockholders of record on Sunday, June 1st will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 3.73%. The ex-dividend date of this dividend is Friday, May 30th. Premier's dividend payout ratio is currently 147.37%.

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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