Two Sigma Advisers LP Raises Stock Holdings in Premier, Inc. (NASDAQ:PINC)

Two Sigma Advisers LP lifted its holdings in shares of Premier, Inc. (NASDAQ:PINC) by 13.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,600 shares of the company’s stock after purchasing an additional 2,900 shares during the quarter. Two Sigma Advisers LP’s holdings in Premier were worth $522,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. American Century Companies Inc. grew its holdings in shares of Premier by 4.2% during the fourth quarter. American Century Companies Inc. now owns 2,598,731 shares of the company’s stock worth $55,093,000 after purchasing an additional 104,452 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Premier by 4.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,813,408 shares of the company’s stock worth $38,444,000 after purchasing an additional 71,624 shares in the last quarter. Brandes Investment Partners LP grew its holdings in shares of Premier by 123.1% during the fourth quarter. Brandes Investment Partners LP now owns 842,326 shares of the company’s stock worth $17,857,000 after purchasing an additional 464,710 shares in the last quarter. Bridgeway Capital Management LLC grew its holdings in shares of Premier by 3.0% during the fourth quarter. Bridgeway Capital Management LLC now owns 762,337 shares of the company’s stock worth $16,162,000 after purchasing an additional 21,861 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Premier by 20.5% during the fourth quarter. Northern Trust Corp now owns 741,739 shares of the company’s stock worth $15,725,000 after purchasing an additional 126,217 shares in the last quarter. Hedge funds and other institutional investors own 74.41% of the company’s stock.

Premier Stock Performance

Shares of PINC stock opened at $23.06 on Wednesday. Premier, Inc. has a fifty-two week low of $17.23 and a fifty-two week high of $23.56. The stock has a 50 day moving average price of $21.05 and a two-hundred day moving average price of $20.71. The company has a market capitalization of $1.90 billion, a P/E ratio of -230.58 and a beta of 0.54.

Premier Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, June 15th. Shareholders of record on Sunday, June 1st will be given a $0.21 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.84 annualized dividend and a yield of 3.64%. Premier’s payout ratio is currently 147.37%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PINC. Piper Sandler upped their target price on Premier from $19.00 to $24.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 21st. Robert W. Baird upped their target price on Premier from $19.00 to $22.00 and gave the stock a “neutral” rating in a research note on Thursday, May 15th. Finally, Canaccord Genuity Group upped their target price on Premier from $19.00 to $22.00 and gave the stock a “hold” rating in a research note on Thursday, May 8th. Seven equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, Premier has an average rating of “Hold” and an average target price of $22.20.

Insider Buying and Selling at Premier

In related news, Director Helen M. Boudreau sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $22.88, for a total transaction of $45,760.00. Following the completion of the transaction, the director now owns 18,668 shares in the company, valued at $427,123.84. This represents a 9.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel David L. Klatsky sold 10,982 shares of the company’s stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $22.74, for a total value of $249,730.68. Following the transaction, the general counsel now owns 76,093 shares of the company’s stock, valued at approximately $1,730,354.82. This represents a 12.61% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 22,982 shares of company stock worth $490,791. 0.96% of the stock is currently owned by insiders.

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.