Allspring Global Investments Holdings LLC Cuts Stock Position in Premier, Inc. (NASDAQ:PINC)

Allspring Global Investments Holdings LLC lessened its stake in Premier, Inc. (NASDAQ:PINCFree Report) by 7.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,334,088 shares of the company’s stock after selling 110,913 shares during the period. Allspring Global Investments Holdings LLC owned 1.11% of Premier worth $29,483,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Global Retirement Partners LLC grew its stake in Premier by 153.3% in the fourth quarter. Global Retirement Partners LLC now owns 1,583 shares of the company’s stock valued at $35,000 after purchasing an additional 958 shares during the last quarter. Hexagon Capital Partners LLC grew its stake in Premier by 71.7% in the fourth quarter. Hexagon Capital Partners LLC now owns 1,660 shares of the company’s stock valued at $37,000 after purchasing an additional 693 shares during the last quarter. Parallel Advisors LLC boosted its holdings in Premier by 141.2% in the fourth quarter. Parallel Advisors LLC now owns 1,980 shares of the company’s stock worth $44,000 after acquiring an additional 1,159 shares in the last quarter. Janiczek Wealth Management LLC boosted its holdings in Premier by 246.5% in the fourth quarter. Janiczek Wealth Management LLC now owns 2,533 shares of the company’s stock worth $57,000 after acquiring an additional 1,802 shares in the last quarter. Finally, Van ECK Associates Corp boosted its holdings in Premier by 22.4% in the fourth quarter. Van ECK Associates Corp now owns 3,289 shares of the company’s stock worth $74,000 after acquiring an additional 601 shares in the last quarter. Hedge funds and other institutional investors own 74.41% of the company’s stock.

Premier Trading Up 0.1 %

Shares of NASDAQ:PINC opened at $18.38 on Friday. Premier, Inc. has a 12-month low of $17.95 and a 12-month high of $28.30. The company has a market capitalization of $1.93 billion, a PE ratio of 28.72, a PEG ratio of 6.04 and a beta of 0.42. The business has a 50 day moving average of $19.13 and a two-hundred day moving average of $20.75. The company has a current ratio of 0.93, a quick ratio of 0.82 and a debt-to-equity ratio of 0.01.

Premier (NASDAQ:PINCGet Free Report) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.07. Premier had a return on equity of 11.71% and a net margin of 6.01%. The company had revenue of $342.60 million during the quarter, compared to the consensus estimate of $312.92 million. As a group, analysts forecast that Premier, Inc. will post 1.96 EPS for the current year.

Premier Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, June 15th. Stockholders of record on Saturday, June 1st were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.57%. The ex-dividend date of this dividend was Friday, May 31st. Premier’s dividend payout ratio (DPR) is presently 131.25%.

Insider Activity

In other news, COO Leigh Anderson sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $19.41, for a total value of $388,200.00. Following the completion of the sale, the chief operating officer now directly owns 183,928 shares in the company, valued at $3,570,042.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, COO Leigh Anderson sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $19.41, for a total value of $388,200.00. Following the completion of the sale, the chief operating officer now directly owns 183,928 shares in the company, valued at $3,570,042.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel David L. Klatsky sold 13,339 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $18.55, for a total value of $247,438.45. Following the completion of the sale, the general counsel now owns 92,001 shares of the company’s stock, valued at $1,706,618.55. The disclosure for this sale can be found here. Insiders sold 89,075 shares of company stock worth $1,700,650 over the last three months. 0.85% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have weighed in on PINC. Canaccord Genuity Group reissued a “hold” rating and issued a $21.00 price target (down previously from $27.00) on shares of Premier in a report on Wednesday, May 8th. Canaccord Genuity Group downgraded Premier from a “buy” rating to a “hold” rating and lowered their price target for the stock from $27.00 to $21.00 in a report on Wednesday, May 8th. StockNews.com raised Premier from a “hold” rating to a “buy” rating in a report on Thursday, May 9th. Piper Sandler lowered their price target on Premier from $24.00 to $22.00 and set a “neutral” rating for the company in a report on Wednesday, May 8th. Finally, JPMorgan Chase & Co. lowered their price target on Premier from $23.00 to $21.00 and set a “neutral” rating for the company in a report on Tuesday, May 28th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $23.50.

Get Our Latest Analysis on Premier

About Premier

(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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