Wellington Management Group LLP Has $4.38 Million Stock Position in Premier, Inc. (NASDAQ:PINC)

Wellington Management Group LLP increased its stake in Premier, Inc. (NASDAQ:PINCFree Report) by 17.6% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 203,598 shares of the company’s stock after purchasing an additional 30,399 shares during the quarter. Wellington Management Group LLP’s holdings in Premier were worth $4,377,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Rhumbline Advisers lifted its holdings in Premier by 108.0% during the 3rd quarter. Rhumbline Advisers now owns 350,447 shares of the company’s stock valued at $7,535,000 after purchasing an additional 181,979 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Premier by 984.9% during the third quarter. Victory Capital Management Inc. now owns 518,964 shares of the company’s stock worth $11,158,000 after buying an additional 471,131 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of Premier during the third quarter worth $1,712,000. Comerica Bank acquired a new stake in shares of Premier during the second quarter worth $10,194,000. Finally, Invesco Ltd. lifted its holdings in shares of Premier by 298.1% during the third quarter. Invesco Ltd. now owns 538,413 shares of the company’s stock worth $11,576,000 after buying an additional 403,156 shares in the last quarter. Institutional investors and hedge funds own 74.41% of the company’s stock.

Premier Stock Up 0.1 %

PINC stock opened at $21.59 on Wednesday. The company has a market cap of $2.59 billion, a PE ratio of 15.53, a price-to-earnings-growth ratio of 5.53 and a beta of 0.37. The business has a 50-day simple moving average of $21.46 and a 200 day simple moving average of $21.24. Premier, Inc. has a 52 week low of $18.89 and a 52 week high of $33.58. The company has a quick ratio of 1.32, a current ratio of 1.43 and a debt-to-equity ratio of 0.02.

Premier (NASDAQ:PINCGet Free Report) last released its earnings results on Monday, February 5th. The company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.02. Premier had a return on equity of 11.60% and a net margin of 12.71%. The firm had revenue of $334.75 million for the quarter, compared to analysts’ expectations of $338.55 million. Sell-side analysts anticipate that Premier, Inc. will post 1.95 EPS for the current fiscal year.

Premier Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 3.89%. The ex-dividend date of this dividend was Thursday, February 29th. Premier’s dividend payout ratio is presently 60.43%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. StockNews.com downgraded Premier from a “buy” rating to a “hold” rating in a report on Wednesday, February 7th. SVB Leerink assumed coverage on Premier in a report on Monday, February 26th. They set a “market perform” rating and a $22.50 target price for the company. Barclays assumed coverage on Premier in a report on Wednesday, January 3rd. They set an “equal weight” rating and a $22.00 target price for the company. Finally, Leerink Partnrs reissued a “market perform” rating on shares of Premier in a report on Monday, February 26th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $25.15.

Get Our Latest Research Report on Premier

Premier Company Profile

(Free Report)

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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