Graham Capital Management L.P. Boosts Position in Premier, Inc. (NASDAQ:PINC)

Graham Capital Management L.P. boosted its holdings in shares of Premier, Inc. (NASDAQ:PINCGet Rating) by 557.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,066 shares of the company’s stock after acquiring an additional 28,033 shares during the period. Graham Capital Management L.P.’s holdings in Premier were worth $1,176,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Premier by 3.6% in the 1st quarter. Vanguard Group Inc. now owns 11,216,796 shares of the company’s stock worth $399,205,000 after purchasing an additional 390,512 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Premier by 6.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,031,270 shares of the company’s stock worth $107,889,000 after purchasing an additional 192,419 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Premier by 9.7% in the 4th quarter. Renaissance Technologies LLC now owns 2,728,289 shares of the company’s stock worth $112,324,000 after purchasing an additional 241,057 shares in the last quarter. First Trust Advisors LP boosted its stake in Premier by 9.2% in the 1st quarter. First Trust Advisors LP now owns 2,459,509 shares of the company’s stock worth $87,534,000 after purchasing an additional 206,525 shares in the last quarter. Finally, State Street Corp raised its position in Premier by 1.8% during the 4th quarter. State Street Corp now owns 2,108,752 shares of the company’s stock worth $86,817,000 after buying an additional 36,372 shares during the last quarter. 68.18% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Canaccord Genuity Group raised their price target on shares of Premier from $44.00 to $46.00 and gave the stock a “buy” rating in a research report on Wednesday, August 17th. Credit Suisse Group raised their price target on shares of Premier from $35.00 to $38.00 and gave the stock an “underperform” rating in a research report on Wednesday, August 17th. Canaccord Genuity Group raised their price target on shares of Premier from $44.00 to $46.00 in a research report on Wednesday, August 17th. Benchmark raised their price target on shares of Premier from $44.00 to $46.00 and gave the stock a “buy” rating in a research report on Wednesday, August 24th. Finally, StockNews.com lowered shares of Premier from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 18th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $42.83.

Premier Price Performance

NASDAQ:PINC opened at $35.83 on Monday. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.86 and a quick ratio of 0.70. The firm has a market cap of $4.23 billion, a price-to-earnings ratio of 16.59, a price-to-earnings-growth ratio of 1.51 and a beta of 0.34. The company has a 50 day moving average price of $37.10 and a 200-day moving average price of $36.64. Premier, Inc. has a 1-year low of $34.28 and a 1-year high of $42.15.

Premier (NASDAQ:PINCGet Rating) last posted its earnings results on Tuesday, August 16th. The company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.01. The firm had revenue of $340.70 million during the quarter, compared to analyst estimates of $332.88 million. Premier had a net margin of 18.55% and a return on equity of 11.98%. The business’s quarterly revenue was down 29.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.55 EPS. Equities research analysts forecast that Premier, Inc. will post 2.35 EPS for the current year.

Premier Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Thursday, September 1st will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 2.34%. The ex-dividend date of this dividend is Wednesday, August 31st. This is a positive change from Premier’s previous quarterly dividend of $0.20. Premier’s payout ratio is presently 38.89%.

About Premier

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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.

See Also

Institutional Ownership by Quarter for Premier (NASDAQ:PINC)

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