Sanctuary Advisors LLC Purchases New Shares in Premier, Inc. (NASDAQ:PINC)

Sanctuary Advisors LLC purchased a new stake in shares of Premier, Inc. (NASDAQ:PINC) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 15,349 shares of the company’s stock, valued at approximately $353,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brooklyn Investment Group grew its position in Premier by 61,750.0% during 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 period. Keystone Financial Group Inc. acquired a new stake in Premier during the fourth quarter valued at $37,000. Wilmington Savings Fund Society FSB acquired a new stake in Premier during the third quarter valued at $39,000. Van ECK Associates Corp grew its position in 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 buying an additional 446 shares during the period. Finally, Quarry LP lifted its holdings in 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 in the last quarter. Institutional investors and hedge funds own 74.41% of the company’s stock.

Premier Trading Down 1.4 %

NASDAQ:PINC opened at $17.93 on Tuesday. The company’s 50-day moving average price is $20.48 and its 200-day moving average price is $20.71. The company has a market cap of $1.64 billion, a P/E ratio of -179.28 and a beta of 0.43. Premier, Inc. has a twelve month low of $17.69 and a twelve month high of $23.56.

Premier Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 4.68%. The ex-dividend date of this dividend is Friday, February 28th. Premier’s dividend payout ratio is currently -840.00%.

Insiders Place Their Bets

In other Premier news, Director John T. Bigalke sold 1,136 shares of Premier stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $22.19, for a total transaction of $25,207.84. Following the transaction, the director now directly owns 23,846 shares of the company’s stock, valued at $529,142.74. The trade was a 4.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Helen M. Boudreau sold 2,500 shares of Premier stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $21.42, for a total transaction of $53,550.00. Following the transaction, the director now directly owns 20,668 shares in the company, valued at $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 have sold 42,010 shares of company stock valued at $916,911 over the last ninety days. Company insiders own 0.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PINC. Canaccord Genuity Group decreased their price objective on shares of Premier from $21.00 to $19.00 and set a “hold” rating on the stock in a report on Wednesday, February 5th. Barclays increased their price objective on shares of Premier from $20.00 to $24.00 and gave the company an “equal weight” rating in a report on Wednesday, November 6th. Piper Sandler decreased their price objective on shares of Premier from $21.00 to $19.00 and set a “neutral” rating on the stock in a report on Wednesday, February 5th. Robert W. Baird decreased their price objective on shares of Premier from $20.00 to $19.00 and set a “neutral” rating on the stock in a report on Wednesday, February 5th. Finally, StockNews.com downgraded shares of Premier from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th. Eight investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Premier currently has a consensus rating of “Hold” and an average target price of $20.17.

Premier Company 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.