Premier, Inc. (NASDAQ:PINC) Stake Decreased by Amalgamated Bank

Amalgamated Bank lessened its holdings in shares of Premier, Inc. (NASDAQ:PINC) by 32.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 33,283 shares of the company’s stock after selling 16,070 shares during the period. Amalgamated Bank’s holdings in Premier were worth $666,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Mitsubishi UFJ Trust & Banking Corp bought a new stake in shares of Premier during the first quarter valued at approximately $27,000. GAMMA Investing LLC increased its stake in shares of Premier by 137.6% during the third quarter. GAMMA Investing LLC now owns 1,347 shares of the company’s stock valued at $27,000 after acquiring an additional 780 shares during the period. Abich Financial Wealth Management LLC increased its stake in shares of Premier by 50.0% during the first quarter. Abich Financial Wealth Management LLC now owns 1,951 shares of the company’s stock valued at $43,000 after acquiring an additional 650 shares during the period. Versant Capital Management Inc increased its stake in shares of Premier by 265.2% during the second quarter. Versant Capital Management Inc now owns 2,140 shares of the company’s stock valued at $40,000 after acquiring an additional 1,554 shares during the period. Finally, Meeder Asset Management Inc. acquired a new position in shares of Premier during the second quarter valued at approximately $47,000. Institutional investors own 74.41% of the company’s stock.

Insider Activity at Premier

In other Premier news, insider Andy Brailo sold 4,390 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $20.51, for a total transaction of $90,038.90. Following the completion of the transaction, the insider now owns 104,410 shares of the company’s stock, valued at $2,141,449.10. The trade was a 4.03 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Leigh Anderson sold 20,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $19.62, for a total transaction of $392,400.00. Following the transaction, the chief operating officer now directly owns 131,707 shares of the company’s stock, valued at approximately $2,584,091.34. This represents a 13.18 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 142,856 shares of company stock valued at $2,941,879. Insiders own 0.96% of the company’s stock.

Premier Stock Down 1.2 %

Shares of NASDAQ:PINC opened at $22.48 on Friday. The firm has a fifty day moving average of $20.36 and a two-hundred day moving average of $19.80. The firm has a market capitalization of $2.25 billion, a P/E ratio of 16.53, a price-to-earnings-growth ratio of 10.40 and a beta of 0.40. Premier, Inc. has a 12-month low of $17.95 and a 12-month high of $23.43.

Premier (NASDAQ:PINC) last released its quarterly earnings data on Tuesday, November 5th. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.09. Premier had a net margin of 11.41% and a return on equity of 10.74%. The business had revenue of $248.14 million during the quarter, compared to analyst estimates of $232.85 million. During the same quarter in the previous year, the business earned $0.50 EPS. Premier’s quarterly revenue was down 7.8% compared to the same quarter last year. Equities research analysts expect that Premier, Inc. will post 1.09 earnings per share for the current fiscal year.

Premier Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 15th. Investors of record on Sunday, December 1st will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 3.74%. The ex-dividend date of this dividend is Friday, November 29th. Premier’s payout ratio is presently 61.77%.

Analysts Set New Price Targets

A number of research firms recently commented on PINC. StockNews.com lowered shares of Premier from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th. Barclays raised their price objective on shares of Premier from $20.00 to $24.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 6th. JPMorgan Chase & Co. decreased their price target on shares of Premier from $21.00 to $19.00 and set a “neutral” rating on the stock in a research report on Monday, September 9th. Canaccord Genuity Group lifted their price target on shares of Premier from $19.00 to $21.00 and gave the stock a “hold” rating in a research report on Wednesday, November 6th. Finally, Benchmark lowered shares of Premier from a “buy” rating to a “hold” rating in a research report on Monday, August 26th. Ten investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Premier has a consensus rating of “Hold” and an average target price of $21.36.

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.