XTX Topco Ltd Makes New Investment in Premier, Inc. (NASDAQ:PINC)

XTX Topco Ltd bought a new position in shares of Premier, Inc. (NASDAQ:PINC) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 32,914 shares of the company’s stock, valued at approximately $615,000.

A number of other hedge funds have also bought and sold shares of the business. Bank of Nova Scotia increased its position in shares of Premier by 711.0% during the 4th quarter. Bank of Nova Scotia now owns 163,006 shares of the company’s stock valued at $3,645,000 after purchasing an additional 142,907 shares during the last quarter. Carolina Wealth Advisors LLC increased its holdings in Premier by 79.5% during the first quarter. Carolina Wealth Advisors LLC now owns 264,696 shares of the company’s stock worth $5,850,000 after buying an additional 117,242 shares during the last quarter. Hotchkis & Wiley Capital Management LLC raised its position in Premier by 31.2% in the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 532,915 shares of the company’s stock worth $11,916,000 after acquiring an additional 126,640 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new position in Premier in the first quarter valued at about $1,686,000. Finally, SG Americas Securities LLC grew its position in shares of Premier by 1,496.5% during the 1st quarter. SG Americas Securities LLC now owns 94,734 shares of the company’s stock valued at $2,094,000 after acquiring an additional 88,800 shares during the period. 74.41% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on the company. JPMorgan Chase & Co. dropped their price objective on Premier from $21.00 to $19.00 and set a “neutral” rating on the stock in a research note on Monday, September 9th. StockNews.com cut Premier from a “buy” rating to a “hold” rating in a research report on Thursday, September 12th. Robert W. Baird decreased their price objective on Premier from $22.00 to $19.00 and set a “neutral” rating for the company in a report on Wednesday, August 21st. Canaccord Genuity Group dropped their price objective on shares of Premier from $21.00 to $20.00 and set a “hold” rating on the stock in a report on Wednesday, August 21st. Finally, Benchmark lowered shares of Premier from a “buy” rating to a “hold” rating in a research report on Monday, August 26th. Ten research analysts have rated the stock with a hold rating, According to MarketBeat.com, Premier has an average rating of “Hold” and a consensus target price of $21.94.

Premier Price Performance

PINC stock opened at $19.89 on Tuesday. Premier, Inc. has a twelve month low of $17.95 and a twelve month high of $23.01. The firm has a market capitalization of $2.08 billion, a PE ratio of 31.08, a PEG ratio of 9.79 and a beta of 0.40. The stock has a 50-day simple moving average of $20.14 and a two-hundred day simple moving average of $20.01.

Premier (NASDAQ:PINC) last posted its earnings results on Tuesday, August 20th. The company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.25. Premier had a net margin of 8.88% and a return on equity of 11.69%. The business had revenue of $350.30 million for the quarter, compared to analyst estimates of $308.88 million. During the same quarter in the prior year, the firm posted $0.70 EPS. Premier’s revenue was up 2.9% on a year-over-year basis. On average, equities research analysts anticipate that Premier, Inc. will post 1.04 EPS for the current fiscal year.

Premier Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, September 15th. Investors of record on Sunday, September 1st were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 4.22%. The ex-dividend date of this dividend was Friday, August 30th. Premier’s payout ratio is 131.25%.

Insider Buying and Selling

In other news, CEO Michael J. Alkire sold 18,771 shares of Premier stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $21.12, for a total transaction of $396,443.52. Following the completion of the sale, the chief executive officer now owns 543,927 shares in the company, valued at approximately $11,487,738.24. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Premier news, COO Leigh Anderson sold 20,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $18.63, for a total transaction of $372,600.00. Following the sale, the chief operating officer now owns 163,928 shares in the company, valued at $3,053,978.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael J. Alkire sold 18,771 shares of Premier stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $21.12, for a total value of $396,443.52. Following the sale, the chief executive officer now directly owns 543,927 shares of the company’s stock, valued at approximately $11,487,738.24. The disclosure for this sale can be found here. Insiders sold a total of 166,312 shares of company stock worth $3,358,500 over the last ninety days. 0.85% of the stock is owned by corporate insiders.

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.