Martingale Asset Management L P Makes New Investment in Premier, Inc. (NASDAQ:PINC)

Martingale Asset Management L P bought a new position in shares of Premier, Inc. (NASDAQ:PINCGet Rating) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 11,040 shares of the company’s stock, valued at approximately $395,000.

A number of other institutional investors have also recently bought and sold shares of PINC. Envestnet Asset Management Inc. acquired a new stake in Premier during the 1st quarter worth $545,000. Victory Capital Management Inc. grew its holdings in Premier by 1.3% during the 1st quarter. Victory Capital Management Inc. now owns 45,606 shares of the company’s stock worth $1,651,000 after acquiring an additional 603 shares during the period. Advisor Group Holdings Inc. grew its holdings in Premier by 25.0% during the 1st quarter. Advisor Group Holdings Inc. now owns 5,759 shares of the company’s stock worth $204,000 after acquiring an additional 1,150 shares during the period. Aigen Investment Management LP acquired a new stake in Premier during the 1st quarter worth $312,000. Finally, KBC Group NV acquired a new stake in Premier during the 1st quarter worth $1,155,000. Institutional investors and hedge funds own 68.18% of the company’s stock.

Premier Trading Up 1.5 %

PINC opened at $32.91 on Wednesday. The stock has a market capitalization of $3.91 billion, a P/E ratio of 21.23, a P/E/G ratio of 1.35 and a beta of 0.35. Premier, Inc. has a 12 month low of $30.82 and a 12 month high of $41.72. The firm’s fifty day simple moving average is $33.31 and its 200 day simple moving average is $35.60. The company has a current ratio of 0.88, a quick ratio of 0.73 and a debt-to-equity ratio of 0.08.

Premier Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Thursday, December 1st will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Wednesday, November 30th. This represents a $0.84 annualized dividend and a yield of 2.55%. Premier’s dividend payout ratio (DPR) is presently 54.19%.

Wall Street Analyst Weigh In

PINC has been the subject of several research analyst reports. TheStreet lowered shares of Premier from a “b” rating to a “c+” rating in a report on Tuesday, September 13th. Raymond James decreased their price target on shares of Premier from $45.00 to $40.00 and set an “outperform” rating for the company in a report on Thursday, November 3rd. Canaccord Genuity Group boosted their price target on shares of Premier from $44.00 to $46.00 and gave the company a “buy” rating in a report on Wednesday, August 17th. Barclays decreased their price target on shares of Premier to $33.00 in a report on Thursday, October 13th. Finally, StockNews.com initiated coverage on shares of Premier in a report on Wednesday, October 12th. They issued a “buy” rating for the company. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.

Further Reading

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Institutional Ownership by Quarter for Premier (NASDAQ:PINC)

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