Premier, Inc. (NASDAQ:PINC) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System cut its holdings in shares of Premier, Inc. (NASDAQ:PINC) by 10.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 31,428 shares of the company’s stock after selling 3,705 shares during the quarter. New York State Teachers Retirement System’s holdings in Premier were worth $606,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in PINC. Aster Capital Management DIFC Ltd acquired a new position in shares of Premier during the 4th quarter valued at about $52,000. New Age Alpha Advisors LLC acquired a new position in Premier during the fourth quarter worth approximately $82,000. Russell Investments Group Ltd. raised its stake in Premier by 40.4% during the fourth quarter. Russell Investments Group Ltd. now owns 4,371 shares of the company’s stock worth $93,000 after purchasing an additional 1,257 shares during the period. Mitsubishi UFJ Trust & Banking Corp purchased a new position in Premier during the fourth quarter worth approximately $96,000. Finally, Sterling Capital Management LLC boosted its holdings in shares of Premier by 44.5% in the 4th quarter. Sterling Capital Management LLC now owns 5,737 shares of the company’s stock valued at $122,000 after purchasing an additional 1,767 shares during the last quarter. 74.41% of the stock is owned by institutional investors and hedge funds.

Premier Price Performance

Shares of NASDAQ PINC opened at $21.46 on Friday. Premier, Inc. has a 1-year low of $17.23 and a 1-year high of $23.56. The company has a market capitalization of $1.77 billion, a price-to-earnings ratio of 37.65 and a beta of 0.56. The business has a 50-day moving average of $22.47 and a 200-day moving average of $20.74.

Premier Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, June 15th. Shareholders of record on Sunday, June 1st were given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 3.91%. The ex-dividend date of this dividend was Friday, May 30th. Premier’s dividend payout ratio (DPR) is 147.37%.

Insider Buying and Selling at Premier

In related news, Director John T. Bigalke sold 1,137 shares of the business’s stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $23.03, for a total value of $26,185.11. Following the transaction, the director owned 28,673 shares in the company, valued at approximately $660,339.19. The trade was a 3.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Helen M. Boudreau sold 2,000 shares of the stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $22.88, for a total value of $45,760.00. Following the completion of the transaction, the director directly owned 18,668 shares of the company’s stock, valued at $427,123.84. This represents a 9.68% decrease in their position. The disclosure for this sale can be found here. Insiders sold 14,119 shares of company stock valued at $321,676 over the last 90 days. 0.96% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

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

Premier Company 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.