Premier, Inc. (NASDAQ:PINC) Shares Sold by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lessened its position in Premier, Inc. (NASDAQ:PINC) by 8.4% during the fourth quarter, Holdings Channel reports. The fund owned 20,518 shares of the company’s stock after selling 1,887 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Premier were worth $435,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Advisors Asset Management Inc. increased its holdings in shares of Premier by 554.7% during the fourth quarter. Advisors Asset Management Inc. now owns 98,945 shares of the company’s stock valued at $2,098,000 after purchasing an additional 83,831 shares during the period. Kennondale Capital Management LLC bought a new stake in shares of Premier in the 4th quarter worth $675,000. Corient Private Wealth LLC bought a new position in Premier during the fourth quarter valued at about $227,000. Brandes Investment Partners LP boosted its stake in Premier by 123.1% during the fourth quarter. Brandes Investment Partners LP now owns 842,326 shares of the company’s stock valued at $17,857,000 after buying an additional 464,710 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Premier in the 4th quarter valued at about $386,000. 74.41% of the stock is currently owned by institutional investors.

Insider Activity

In other Premier news, Director Helen M. Boudreau sold 2,500 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $21.42, for a total value of $53,550.00. Following the transaction, the director now owns 20,668 shares in the company, valued at $442,708.56. The trade was a 10.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.96% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Robert W. Baird dropped their target price on shares of Premier from $20.00 to $19.00 and set a “neutral” rating on the stock in a report on Wednesday, February 5th. Piper Sandler cut their price objective on Premier from $21.00 to $19.00 and set a “neutral” rating for the company in a research report on Wednesday, February 5th. Finally, Canaccord Genuity Group reduced their price objective on Premier from $21.00 to $19.00 and set a “hold” rating for the company in a research note on Wednesday, February 5th. Eight analysts have rated the stock with a hold rating, According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $20.17.

Premier Price Performance

Shares of PINC opened at $19.19 on Friday. The business’s 50-day moving average is $19.40 and its 200-day moving average is $20.47. The company has a market capitalization of $1.75 billion, a price-to-earnings ratio of -191.88 and a beta of 0.39. Premier, Inc. has a fifty-two week low of $17.23 and a fifty-two week high of $23.56.

Premier Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Saturday, March 15th. Shareholders of record on Saturday, March 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 4.38%. The ex-dividend date was Friday, February 28th. Premier’s dividend payout ratio (DPR) is currently -840.00%.

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.