Premier, Inc. (NASDAQ:PINC) Stake Cut by New York State Teachers Retirement System

New York State Teachers Retirement System cut its position in shares of Premier, Inc. (NASDAQ:PINC) by 4.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 35,133 shares of the company’s stock after selling 1,583 shares during the quarter. New York State Teachers Retirement System’s holdings in Premier were worth $745,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Brooklyn Investment Group lifted its stake in Premier by 61,750.0% in the fourth quarter. Brooklyn Investment Group now owns 1,237 shares of the company’s stock valued at $26,000 after buying an additional 1,235 shares during the last quarter. Keystone Financial Group Inc. bought a new stake in Premier in the fourth quarter valued at $37,000. Wilmington Savings Fund Society FSB bought a new stake in Premier in the third quarter valued at $39,000. Van ECK Associates Corp increased its holdings in shares of Premier by 28.0% during the fourth quarter. Van ECK Associates Corp now owns 2,041 shares of the company’s stock valued at $43,000 after purchasing an additional 446 shares during the period. Finally, Quarry LP increased its holdings in shares of Premier by 576.7% during the third quarter. Quarry LP now owns 2,179 shares of the company’s stock valued at $44,000 after purchasing an additional 1,857 shares during the period. 74.41% of the stock is currently owned by institutional investors.

Premier Trading Down 1.5 %

Shares of PINC opened at $18.61 on Monday. The business’s 50-day moving average price is $20.87 and its 200 day moving average price is $20.78. The stock has a market capitalization of $1.70 billion, a P/E ratio of -186.08 and a beta of 0.43. Premier, Inc. has a 1-year low of $17.69 and a 1-year high of $23.56.

Premier Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.84 dividend on an annualized basis and a yield of 4.51%. Premier’s payout ratio is presently -840.00%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on PINC shares. Piper Sandler lowered their price target on Premier from $21.00 to $19.00 and set a “neutral” rating on the stock in a report on Wednesday, February 5th. Canaccord Genuity Group lowered their price target on Premier from $21.00 to $19.00 and set a “hold” rating on the stock in a report on Wednesday, February 5th. Barclays raised their price target on Premier from $20.00 to $24.00 and gave the company an “equal weight” rating in a report on Wednesday, November 6th. StockNews.com lowered Premier from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th. Finally, Robert W. Baird lowered their price target on Premier from $20.00 to $19.00 and set a “neutral” rating on the stock in a report on Wednesday, February 5th. Ten investment analysts have rated the stock with a hold rating, According to MarketBeat.com, Premier has an average rating of “Hold” and an average price target of $20.50.

Insiders Place Their Bets

In other news, Director John T. Bigalke sold 1,136 shares of Premier stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $22.19, for a total transaction of $25,207.84. Following the completion of the sale, the director now directly owns 23,846 shares in the company, valued at $529,142.74. The trade was a 4.55 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Leigh Anderson sold 20,000 shares of Premier stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $21.88, for a total value of $437,600.00. Following the sale, the chief operating officer now owns 111,707 shares of the company’s stock, valued at approximately $2,444,149.16. This represents a 15.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 42,010 shares of company stock worth $916,911. 0.96% of the stock is currently owned by company insiders.

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.