AdvisorShares Investments LLC Has $432,000 Position in Premier, Inc. $PINC

AdvisorShares Investments LLC cut its position in Premier, Inc. (NASDAQ:PINC) by 11.2% during the 2nd quarter, HoldingsChannel reports. The firm owned 19,706 shares of the company’s stock after selling 2,474 shares during the quarter. AdvisorShares Investments LLC’s holdings in Premier were worth $432,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of PINC. Teacher Retirement System of Texas raised its holdings in Premier by 137.3% in the first quarter. Teacher Retirement System of Texas now owns 28,570 shares of the company’s stock worth $551,000 after purchasing an additional 16,531 shares during the period. Envestnet Asset Management Inc. acquired a new stake in Premier in the first quarter worth $914,000. Crossmark Global Holdings Inc. raised its holdings in Premier by 88.1% in the first quarter. Crossmark Global Holdings Inc. now owns 170,723 shares of the company’s stock worth $3,292,000 after purchasing an additional 79,971 shares during the period. Alps Advisors Inc. raised its holdings in Premier by 7.8% in the first quarter. Alps Advisors Inc. now owns 921,163 shares of the company’s stock worth $17,760,000 after purchasing an additional 66,391 shares during the period. Finally, Allianz Asset Management GmbH raised its holdings in Premier by 40.1% in the first quarter. Allianz Asset Management GmbH now owns 563,920 shares of the company’s stock worth $10,872,000 after purchasing an additional 161,501 shares during the period. 74.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have weighed in on PINC. UBS Group increased their target price on shares of Premier from $26.00 to $28.25 and gave the stock a “neutral” rating in a report on Thursday, September 25th. Piper Sandler increased their target price on shares of Premier from $24.00 to $28.00 and gave the stock a “neutral” rating in a report on Monday, August 25th. Canaccord Genuity Group increased their price objective on shares of Premier from $25.00 to $28.25 and gave the stock a “hold” rating in a research report on Tuesday, September 23rd. Leerink Partners increased their price objective on shares of Premier from $24.00 to $26.00 and gave the stock a “market perform” rating in a research report on Tuesday, August 19th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Premier in a research report on Wednesday, October 8th. Seven analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of $26.07.

Insider Activity at Premier

In related news, Director John T. Bigalke sold 1,137 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 $29,323.23. Following the completion of the transaction, the director owned 27,536 shares of the company’s stock, valued at approximately $710,153.44. This trade represents a 3.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction 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 position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 12,326 shares of company stock valued at $317,230. Corporate insiders own 0.96% of the company’s stock.

Premier Stock Up 0.1%

Shares of PINC stock opened at $28.14 on Friday. The firm has a fifty day moving average of $27.23 and a 200-day moving average of $23.86. Premier, Inc. has a 12-month low of $17.23 and a 12-month high of $28.79. The company has a market capitalization of $2.32 billion, a price-to-earnings ratio of 127.91 and a beta of 0.64.

Premier (NASDAQ:PINC) last issued its quarterly earnings data on Tuesday, January 14th. The company reported $0.67 earnings per share (EPS) for the quarter. The company had revenue of ($713.06) million during the quarter. Premier had a net margin of 2.00% and a return on equity of 7.04%. On average, equities analysts expect that Premier, Inc. will post 1.13 EPS for the current year.

Premier Announces Dividend

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

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.