Parallel Advisors LLC Increases Stock Position in Premier, Inc. $PINC

Parallel Advisors LLC lifted its holdings in Premier, Inc. (NASDAQ:PINC) by 2,172.9% during the second quarter, Holdings Channel reports. The institutional investor owned 2,932 shares of the company’s stock after acquiring an additional 2,803 shares during the quarter. Parallel Advisors LLC’s holdings in Premier were worth $64,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of PINC. Vestcor Inc purchased a new stake in Premier in the first quarter worth about $125,000. Atlas Capital Advisors Inc. bought a new position in shares of Premier during the first quarter valued at $125,000. Versant Capital Management Inc raised its position in shares of Premier by 97.6% in the 1st quarter. Versant Capital Management Inc now owns 7,719 shares of the company’s stock worth $149,000 after purchasing an additional 3,813 shares during the last quarter. Neuberger Berman Group LLC grew its position in Premier by 16.7% during the 1st quarter. Neuberger Berman Group LLC now owns 11,183 shares of the company’s stock valued at $216,000 after purchasing an additional 1,604 shares during the last quarter. Finally, Cooper Financial Group bought a new position in shares of Premier in the first quarter worth approximately $221,000. 74.41% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Premier

In other Premier news, insider Andy Brailo sold 6,521 shares of the stock in a transaction that occurred 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 transaction, the insider directly owned 99,447 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John T. Bigalke sold 1,137 shares of Premier stock in a transaction on Wednesday, September 3rd. The stock was 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 $710,153.44. This represents a 3.97% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 12,326 shares of company stock worth $317,230 in the last quarter. Company insiders own 0.96% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on PINC. Bank of America boosted their price objective on shares of Premier from $19.00 to $21.00 and gave the stock an “underperform” rating in a report on Tuesday, August 19th. Canaccord Genuity Group increased their price objective on Premier from $25.00 to $28.25 and gave the company a “hold” rating in a research report on Tuesday. Robert W. Baird boosted their target price on Premier from $22.00 to $27.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 20th. Leerink Partners upped their target price on shares of Premier from $24.00 to $26.00 and gave the company a “market perform” rating in a research note on Tuesday, August 19th. Finally, UBS Group lifted their price target on shares of Premier from $26.00 to $28.25 and gave the stock a “neutral” rating in a research note on Thursday. Six research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $26.07.

Premier Stock Performance

Premier stock opened at $27.79 on Friday. Premier, Inc. has a one year low of $17.23 and a one year high of $28.79. The stock has a fifty day moving average of $24.61 and a 200 day moving average of $22.27. The stock has a market cap of $2.29 billion, a PE ratio of 126.32 and a beta of 0.61.

Premier Announces Dividend

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

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.