Bank of Nova Scotia Sells 574 Shares of Premier, Inc. (NASDAQ:PINC)

Bank of Nova Scotia lessened its holdings in Premier, Inc. (NASDAQ:PINCGet Rating) by 2.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,112 shares of the company’s stock after selling 574 shares during the period. Bank of Nova Scotia’s holdings in Premier were worth $753,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Parallel Advisors LLC grew its position in Premier by 37.0% in the second quarter. Parallel Advisors LLC now owns 1,185 shares of the company’s stock valued at $42,000 after acquiring an additional 320 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new position in Premier in the second quarter valued at about $44,000. EverSource Wealth Advisors LLC bought a new stake in shares of Premier during the second quarter worth about $53,000. MetLife Investment Management LLC bought a new stake in shares of Premier during the first quarter worth about $84,000. Finally, Meeder Asset Management Inc. grew its holdings in shares of Premier by 23,236.4% during the first quarter. Meeder Asset Management Inc. now owns 5,134 shares of the company’s stock worth $183,000 after purchasing an additional 5,112 shares during the last quarter. Institutional investors own 68.18% of the company’s stock.

Premier Price Performance

Shares of PINC opened at $32.47 on Friday. Premier, Inc. has a 52-week low of $30.82 and a 52-week high of $41.72. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.73 and a current ratio of 0.88. The business’s 50 day moving average price is $33.42 and its two-hundred day moving average price is $35.67. The firm has a market cap of $3.86 billion, a PE ratio of 20.95, a price-to-earnings-growth ratio of 1.34 and a beta of 0.35.

Premier Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Thursday, December 1st will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date of this dividend is Wednesday, November 30th. Premier’s payout ratio is 54.19%.

Analysts Set New Price Targets

Several analysts have recently weighed in on PINC shares. Robert W. Baird upgraded Premier from a “neutral” rating to an “outperform” rating and set a $41.00 price target on the stock in a report on Wednesday, November 2nd. Raymond James reduced their price target on Premier from $45.00 to $40.00 and set an “outperform” rating on the stock in a report on Thursday, November 3rd. TheStreet cut Premier from a “b” rating to a “c+” rating in a report on Tuesday, September 13th. initiated coverage on Premier in a report on Wednesday, October 12th. They issued a “buy” rating on the stock. Finally, Barclays reduced their target price on Premier to $33.00 in a report on Thursday, October 13th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.56.

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.

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Institutional Ownership by Quarter for Premier (NASDAQ:PINC)

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