Caprock Group LLC Takes Position in Premier, Inc. (NASDAQ:PINC)

Caprock Group LLC purchased a new position in Premier, Inc. (NASDAQ:PINC) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 13,768 shares of the company’s stock, valued at approximately $292,000.

A number of other hedge funds have also made changes to their positions in the company. Brooklyn Investment Group boosted its position in shares of Premier by 61,750.0% during the 4th quarter. Brooklyn Investment Group now owns 1,237 shares of the company’s stock valued at $26,000 after acquiring an additional 1,235 shares during the last quarter. GAMMA Investing LLC lifted its position in Premier by 137.6% in the third quarter. GAMMA Investing LLC now owns 1,347 shares of the company’s stock valued at $27,000 after buying an additional 780 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Premier during the 3rd quarter worth approximately $39,000. Quarry LP lifted its stake in Premier by 576.7% during the 3rd quarter. Quarry LP now owns 2,179 shares of the company’s stock worth $44,000 after acquiring an additional 1,857 shares in the last quarter. Finally, Quest Partners LLC boosted its position in Premier by 356,500.0% in the 3rd quarter. Quest Partners LLC now owns 3,566 shares of the company’s stock valued at $71,000 after buying an additional 3,565 shares during the period. Institutional investors and hedge funds own 74.41% of the company’s stock.

Premier Price Performance

PINC stock opened at $18.95 on Friday. Premier, Inc. has a 52-week low of $17.95 and a 52-week high of $23.56. The firm has a market capitalization of $1.82 billion, a P/E ratio of 13.93 and a beta of 0.43. The company’s 50 day simple moving average is $21.68 and its 200-day simple moving average is $20.93.

Premier (NASDAQ:PINC) last released its quarterly earnings data on Tuesday, November 5th. The company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.09. The firm had revenue of $248.14 million for the quarter, compared to the consensus estimate of $232.85 million. Premier had a return on equity of 10.74% and a net margin of 11.41%. The firm’s revenue was down 7.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.50 earnings per share. Sell-side analysts predict that Premier, Inc. will post 1.12 EPS for the current fiscal year.

Premier Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.43%. The ex-dividend date of this dividend is Friday, February 28th. Premier’s dividend payout ratio is -840.00%.

Analysts Set New Price Targets

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

Insider Buying and Selling at Premier

In other news, CEO Michael J. Alkire sold 17,415 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $23.16, for a total transaction of $403,331.40. Following the completion of the transaction, the chief executive officer now directly owns 520,728 shares in the company, valued at $12,060,060.48. The trade was a 3.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Helen M. Boudreau sold 2,500 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $21.42, for a total transaction of $53,550.00. Following the completion of the sale, the director now directly owns 20,668 shares of the company’s stock, valued at approximately $442,708.56. This trade represents a 10.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 59,425 shares of company stock worth $1,320,242 over the last ninety days. Company insiders own 0.96% of the company’s stock.

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.