New York State Teachers Retirement System Lowers Stock Position in Premier, Inc. (NASDAQ:PINC)

New York State Teachers Retirement System trimmed its holdings in shares of Premier, Inc. (NASDAQ:PINC) by 6.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 36,716 shares of the company’s stock after selling 2,403 shares during the quarter. New York State Teachers Retirement System’s holdings in Premier were worth $734,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of PINC. Abich Financial Wealth Management LLC boosted its position in Premier by 50.0% during the 1st quarter. Abich Financial Wealth Management LLC now owns 1,951 shares of the company’s stock valued at $43,000 after acquiring an additional 650 shares in the last quarter. Arizona State Retirement System boosted its position in Premier by 2.0% during the second quarter. Arizona State Retirement System now owns 33,542 shares of the company’s stock valued at $626,000 after purchasing an additional 653 shares in the last quarter. Comerica Bank boosted its position in Premier by 0.9% during the first quarter. Comerica Bank now owns 77,422 shares of the company’s stock valued at $1,711,000 after purchasing an additional 728 shares in the last quarter. GAMMA Investing LLC grew its stake in Premier by 137.6% in the third quarter. GAMMA Investing LLC now owns 1,347 shares of the company’s stock valued at $27,000 after purchasing an additional 780 shares during the last quarter. Finally, Impact Partnership Wealth LLC raised its holdings in Premier by 7.1% in the third quarter. Impact Partnership Wealth LLC now owns 11,945 shares of the company’s stock worth $239,000 after purchasing an additional 795 shares in the last quarter. Institutional investors own 74.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on PINC shares. JPMorgan Chase & Co. cut their price objective on shares of Premier from $21.00 to $19.00 and set a “neutral” rating on the stock in a research report on Monday, September 9th. Canaccord Genuity Group lifted their price target on shares of Premier from $19.00 to $21.00 and gave the stock a “hold” rating in a report on Wednesday, November 6th. StockNews.com lowered Premier from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th. Robert W. Baird boosted their target price on Premier from $19.00 to $20.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. Finally, Benchmark cut Premier from a “buy” rating to a “hold” rating in a research note on Monday, August 26th. Ten analysts have rated the stock with a hold rating, According to MarketBeat, Premier has a consensus rating of “Hold” and an average target price of $21.36.

Insider Activity at Premier

In other Premier news, CEO Michael J. Alkire sold 19,362 shares of the stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $20.83, for a total transaction of $403,310.46. Following the sale, the chief executive officer now directly owns 578,143 shares of the company’s stock, valued at approximately $12,042,718.69. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Premier news, CEO Michael J. Alkire sold 19,362 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $20.83, for a total value of $403,310.46. Following the sale, the chief executive officer now owns 578,143 shares in the company, valued at approximately $12,042,718.69. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Michael J. Alkire sold 17,900 shares of the firm’s stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $20.00, for a total transaction of $358,000.00. Following the sale, the chief executive officer now directly owns 540,243 shares in the company, valued at $10,804,860. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 135,441 shares of company stock worth $2,738,548 over the last three months. Company insiders own 0.96% of the company’s stock.

Premier Stock Performance

Shares of PINC opened at $22.88 on Monday. The stock has a 50-day moving average of $20.13 and a two-hundred day moving average of $19.72. The stock has a market cap of $2.29 billion, a P/E ratio of 16.82, a P/E/G ratio of 10.78 and a beta of 0.40. Premier, Inc. has a one year low of $17.95 and a one year high of $23.43.

Premier (NASDAQ:PINC) last released its earnings results on Tuesday, November 5th. The company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.09. Premier had a return on equity of 10.74% and a net margin of 11.41%. The firm had revenue of $248.14 million during the quarter, compared to the consensus estimate of $232.85 million. During the same quarter in the previous year, the company posted $0.50 earnings per share. The company’s revenue was down 7.8% compared to the same quarter last year. Analysts predict that Premier, Inc. will post 1.04 EPS for the current fiscal year.

Premier Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st will be paid a $0.21 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.67%. Premier’s payout ratio is currently 61.77%.

Premier Profile

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.