Signaturefd LLC Acquires 921 Shares of Premier, Inc. $PINC

Signaturefd LLC boosted its position in Premier, Inc. (NASDAQ:PINC) by 72.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,197 shares of the company’s stock after purchasing an additional 921 shares during the period. Signaturefd LLC’s holdings in Premier were worth $48,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC lifted its stake in Premier by 112.1% in the second quarter. GAMMA Investing LLC now owns 2,522 shares of the company’s stock worth $55,000 after purchasing an additional 1,333 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in Premier in the second quarter worth about $867,000. Exchange Traded Concepts LLC lifted its stake in Premier by 4.3% in the second quarter. Exchange Traded Concepts LLC now owns 108,031 shares of the company’s stock worth $2,369,000 after purchasing an additional 4,449 shares during the last quarter. Parallel Advisors LLC boosted its holdings in shares of Premier by 2,172.9% in the second quarter. Parallel Advisors LLC now owns 2,932 shares of the company’s stock valued at $64,000 after purchasing an additional 2,803 shares during the period. Finally, Voya Investment Management LLC boosted its holdings in shares of Premier by 17.5% in the first quarter. Voya Investment Management LLC now owns 70,397 shares of the company’s stock valued at $1,357,000 after purchasing an additional 10,468 shares during the period. Institutional investors own 74.41% of the company’s stock.

Insiders Place Their Bets

In other Premier news, Director John T. Bigalke sold 1,137 shares of Premier stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $25.79, for a total value of $29,323.23. Following the transaction, the director directly owned 27,536 shares of the company’s stock, valued at approximately $710,153.44. The trade was a 3.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel David L. Klatsky sold 3,349 shares of Premier stock in a transaction on Monday, August 25th. The stock was sold at an average price of $25.57, for a total transaction of $85,633.93. Following the completion of the transaction, the general counsel directly owned 97,257 shares in the company, valued at $2,486,861.49. This represents a 3.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,326 shares of company stock valued at $317,230. 0.96% of the stock is currently owned by insiders.

Premier Trading Down 0.1%

NASDAQ PINC opened at $27.86 on Tuesday. The firm’s fifty day simple moving average is $25.55 and its two-hundred day simple moving average is $22.79. Premier, Inc. has a 12-month low of $17.23 and a 12-month high of $28.79. The firm has a market capitalization of $2.30 billion, a P/E ratio of 126.64 and a beta of 0.64.

Premier Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 1st were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend was Friday, August 29th. Premier’s payout ratio is currently 381.82%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PINC. Leerink Partners boosted their price target on Premier from $24.00 to $26.00 and gave the company a “market perform” rating in a report on Tuesday, August 19th. Bank of America boosted their price target on Premier from $19.00 to $21.00 and gave the company an “underperform” rating in a report on Tuesday, August 19th. Canaccord Genuity Group boosted their price target on Premier from $25.00 to $28.25 and gave the company a “hold” rating in a report on Tuesday, September 23rd. Weiss Ratings reiterated a “hold (c-)” rating on shares of Premier in a report on Saturday, September 27th. Finally, Piper Sandler boosted their price target on Premier from $24.00 to $28.00 and gave the company a “neutral” rating in a report on Monday, August 25th. Seven equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $26.07.

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.