Versant Capital Management Inc Boosts Holdings in Premier, Inc. (NASDAQ:PINC)

Versant Capital Management Inc raised its holdings in shares of Premier, Inc. (NASDAQ:PINC) by 97.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,719 shares of the company’s stock after buying an additional 3,813 shares during the period. Versant Capital Management Inc’s holdings in Premier were worth $149,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Premier in the 4th quarter worth $4,293,000. Mackenzie Financial Corp increased its position in Premier by 20.1% in the fourth quarter. Mackenzie Financial Corp now owns 28,236 shares of the company’s stock worth $599,000 after buying an additional 4,730 shares in the last quarter. Vise Technologies Inc. increased its position in Premier by 20.9% in the fourth quarter. Vise Technologies Inc. now owns 13,238 shares of the company’s stock worth $281,000 after buying an additional 2,286 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Premier by 16.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 384,851 shares of the company’s stock worth $8,159,000 after buying an additional 54,392 shares during the period. Finally, WBI Investments LLC purchased a new position in shares of Premier during the 4th quarter valued at about $454,000. 74.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Canaccord Genuity Group upped their price objective on Premier from $19.00 to $22.00 and gave the stock a “hold” rating in a research note on Thursday, May 8th. Piper Sandler increased their price objective on shares of Premier from $19.00 to $24.00 and gave the company a “neutral” rating in a report on Wednesday, May 21st. 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 analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $22.20.

Premier Stock Down 0.5%

Shares of Premier stock opened at $22.86 on Tuesday. The company has a market cap of $1.88 billion, a P/E ratio of -228.58 and a beta of 0.54. The firm’s 50 day moving average price is $20.97 and its 200-day moving average price is $20.70. Premier, Inc. has a 52-week low of $17.23 and a 52-week high of $23.56.

Premier Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, June 15th. Stockholders of record on Sunday, June 1st will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date is Friday, May 30th. Premier’s dividend payout ratio (DPR) is presently 147.37%.

Insider Activity at Premier

In other news, Director Helen M. Boudreau sold 2,000 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $427,123.84. The trade was a 9.68% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel David L. Klatsky sold 10,982 shares of the company’s stock in a transaction dated 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 directly owns 76,093 shares of the company’s stock, valued at $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 a total of 24,119 shares of company stock valued at $510,734 in the last ninety days. Company insiders own 0.96% of the company’s stock.

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.