KLP Kapitalforvaltning AS Sells 1,400 Shares of Premier, Inc. $PINC

KLP Kapitalforvaltning AS trimmed its holdings in shares of Premier, Inc. (NASDAQ:PINC) by 2.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 52,300 shares of the company’s stock after selling 1,400 shares during the period. KLP Kapitalforvaltning AS owned about 0.06% of Premier worth $1,147,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PINC. CW Advisors LLC grew its holdings in shares of Premier by 1.8% during the first quarter. CW Advisors LLC now owns 26,166 shares of the company’s stock worth $504,000 after purchasing an additional 454 shares in the last quarter. Signaturefd LLC raised its holdings in shares of Premier by 72.2% during the second quarter. Signaturefd LLC now owns 2,197 shares of the company’s stock valued at $48,000 after acquiring an additional 921 shares in the last quarter. Baird Financial Group Inc. grew its stake in Premier by 1.7% in the first quarter. Baird Financial Group Inc. now owns 56,826 shares of the company’s stock worth $1,096,000 after purchasing an additional 972 shares during the period. OLD National Bancorp IN grew its stake in shares of Premier by 8.2% in the second quarter. OLD National Bancorp IN now owns 13,136 shares of the company’s stock worth $288,000 after acquiring an additional 996 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of 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 acquiring an additional 1,333 shares during the last quarter. 74.41% of the stock is currently owned by institutional investors.

Premier Stock Up 0.1%

Shares of NASDAQ:PINC opened at $28.00 on Wednesday. The firm has a market capitalization of $2.31 billion, a P/E ratio of 127.28 and a beta of 0.64. The firm has a fifty day moving average of $26.32 and a two-hundred day moving average of $23.13. Premier, Inc. has a 12-month low of $17.23 and a 12-month high of $28.79.

Premier (NASDAQ:PINC) last announced its earnings results on Tuesday, January 14th. The company reported $0.67 EPS for the quarter. Premier had a net margin of 2.00% and a return on equity of 7.04%. The firm had revenue of ($713.06) million for the quarter. Equities research analysts expect that Premier, Inc. will post 1.13 earnings per share for the current fiscal year.

Premier Dividend Announcement

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

Insider Buying and Selling at Premier

In other Premier news, insider Andy Brailo sold 6,521 shares of Premier stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $25.79, for a total value of $168,176.59. Following the completion of the sale, the insider owned 99,447 shares in the company, valued at $2,564,738.13. The trade was a 6.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John T. Bigalke sold 1,137 shares of the firm’s stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $25.79, for a total transaction of $29,323.23. Following the completion of the transaction, the director directly owned 27,536 shares in the company, valued at approximately $710,153.44. This represents a 3.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,326 shares of company stock valued at $317,230. Corporate insiders own 0.96% of the company’s stock.

Analysts Set New Price Targets

PINC has been the topic of several recent research reports. Robert W. Baird raised their price objective on Premier from $22.00 to $27.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 20th. Canaccord Genuity Group raised their price target on Premier from $25.00 to $28.25 and gave the stock a “hold” rating in a research note on Tuesday, September 23rd. Piper Sandler boosted their price target on Premier from $24.00 to $28.00 and gave the stock a “neutral” rating in a research report on Monday, August 25th. Leerink Partners boosted their price target on Premier from $24.00 to $26.00 and gave the company a “market perform” rating in a research note on Tuesday, August 19th. Finally, Bank of America increased their price target on Premier from $19.00 to $21.00 and gave the stock an “underperform” rating in a research report on Tuesday, August 19th. Seven investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target 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.