Premier, Inc. (NASDAQ:PINC) Shares Sold by Cerity Partners LLC

Cerity Partners LLC reduced its stake in Premier, Inc. (NASDAQ:PINC) by 6.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 80,302 shares of the company’s stock after selling 5,313 shares during the quarter. Cerity Partners LLC owned about 0.09% of Premier worth $1,548,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in PINC. Northern Trust Corp boosted its position in shares of Premier by 20.5% in the fourth quarter. Northern Trust Corp now owns 741,739 shares of the company’s stock worth $15,725,000 after buying an additional 126,217 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Premier in the fourth quarter valued at about $386,000. Two Sigma Investments LP bought a new position in Premier during the 4th quarter worth approximately $892,000. GAMMA Investing LLC lifted its holdings in Premier by 1,435.4% during the 1st quarter. GAMMA Investing LLC now owns 22,924 shares of the company’s stock worth $442,000 after buying an additional 21,431 shares during the last quarter. Finally, Mariner LLC bought a new position in Premier during the 4th quarter worth approximately $282,000. 74.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Premier

In related news, Director John T. Bigalke sold 1,137 shares of the firm’s stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $23.03, for a total value of $26,185.11. Following the completion of the transaction, the director directly owned 28,673 shares of the company’s stock, valued at $660,339.19. This trade represents a 3.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Helen M. Boudreau sold 2,000 shares of the business’s stock in a transaction on Friday, May 30th. The shares were sold at an average price of $22.88, for a total transaction of $45,760.00. Following the completion of the sale, the director directly owned 18,668 shares in the company, valued at $427,123.84. This trade represents a 9.68% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 14,119 shares of company stock worth $321,676. Company insiders own 0.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on PINC shares. Piper Sandler increased their target price on Premier from $19.00 to $24.00 and gave the stock a “neutral” rating in a report on Wednesday, May 21st. Canaccord Genuity Group increased their target price 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 increased their target price on Premier from $19.00 to $22.00 and gave the stock a “neutral” rating in a report on Thursday, May 15th. Seven analysts have rated the stock with a hold rating, According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $22.20.

Premier Price Performance

Shares of NASDAQ:PINC opened at $20.93 on Tuesday. Premier, Inc. has a fifty-two week low of $17.23 and a fifty-two week high of $23.56. The business has a 50-day moving average of $22.33 and a two-hundred day moving average of $20.71. The stock has a market capitalization of $1.72 billion, a P/E ratio of 36.72 and a beta of 0.56.

Premier Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, June 15th. Stockholders of record on Sunday, June 1st were paid a $0.21 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.01%. Premier’s payout ratio is presently 147.37%.

About Premier

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.