Premier, Inc. (NASDAQ:PINC) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas decreased its position in shares of Premier, Inc. (NASDAQ:PINC) by 60.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,039 shares of the company’s stock after selling 18,021 shares during the period. Teacher Retirement System of Texas’ holdings in Premier were worth $255,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in PINC. Advisors Asset Management Inc. lifted its position in Premier by 554.7% during the 4th quarter. Advisors Asset Management Inc. now owns 98,945 shares of the company’s stock worth $2,098,000 after acquiring an additional 83,831 shares during the period. Kennondale Capital Management LLC purchased a new position in Premier in the 4th quarter valued at $675,000. Corient Private Wealth LLC acquired a new position in Premier in the 4th quarter valued at $227,000. Brandes Investment Partners LP raised its position in Premier by 123.1% during the 4th quarter. Brandes Investment Partners LP now owns 842,326 shares of the company’s stock worth $17,857,000 after buying an additional 464,710 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Premier in the 4th quarter worth $386,000. Institutional investors and hedge funds own 74.41% of the company’s stock.

Premier Stock Performance

PINC stock opened at $19.48 on Wednesday. The firm has a market cap of $1.78 billion, a P/E ratio of -194.78 and a beta of 0.39. Premier, Inc. has a 1 year low of $17.23 and a 1 year high of $23.56. The stock has a 50-day simple moving average of $19.22 and a 200-day simple moving average of $20.47.

Premier Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, March 15th. Investors of record on Saturday, March 1st were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 4.31%. The ex-dividend date of this dividend was Friday, February 28th. Premier’s dividend payout ratio (DPR) is -840.00%.

Insider Buying and Selling at Premier

In related news, Director Helen M. Boudreau sold 2,500 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $21.42, for a total value of $53,550.00. Following the sale, the director now directly owns 20,668 shares of the company’s stock, valued at $442,708.56. This represents a 10.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.96% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on PINC shares. Piper Sandler dropped their target price on Premier from $21.00 to $19.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 5th. Canaccord Genuity Group dropped their price objective on Premier from $21.00 to $19.00 and set a “hold” rating on the stock in a report on Wednesday, February 5th. Finally, Robert W. Baird reduced their target price on Premier from $20.00 to $19.00 and set a “neutral” rating for the company in a report on Wednesday, February 5th. Eight investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $20.17.

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.