Inspire Investing LLC Decreases Position in Premier, Inc. (NASDAQ:PINC)

Inspire Investing LLC decreased its position in shares of Premier, Inc. (NASDAQ:PINC) by 8.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,908 shares of the company’s stock after selling 1,668 shares during the quarter. Inspire Investing LLC’s holdings in Premier were worth $401,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in PINC. Brooklyn Investment Group lifted its position in Premier by 61,750.0% in the 4th quarter. Brooklyn Investment Group now owns 1,237 shares of the company’s stock valued at $26,000 after acquiring an additional 1,235 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Premier by 137.6% during the third quarter. GAMMA Investing LLC now owns 1,347 shares of the company’s stock valued at $27,000 after purchasing an additional 780 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Premier during the third quarter valued at $39,000. Quarry LP increased its holdings in Premier by 576.7% in the 3rd quarter. Quarry LP now owns 2,179 shares of the company’s stock worth $44,000 after buying an additional 1,857 shares in the last quarter. Finally, Quest Partners LLC raised its position in Premier by 356,500.0% in the 3rd quarter. Quest Partners LLC now owns 3,566 shares of the company’s stock worth $71,000 after buying an additional 3,565 shares during the last quarter. Institutional investors own 74.41% of the company’s stock.

Insider Activity at Premier

In other Premier news, CEO Michael J. Alkire sold 17,415 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $23.16, for a total transaction of $403,331.40. Following the transaction, the chief executive officer now owns 520,728 shares in the company, valued at $12,060,060.48. The trade was a 3.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Leigh Anderson sold 20,000 shares of the firm’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $21.88, for a total transaction of $437,600.00. Following the completion of the sale, the chief operating officer now owns 111,707 shares of the company’s stock, valued at $2,444,149.16. This trade represents a 15.19 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 59,425 shares of company stock worth $1,320,242. Company insiders own 0.96% of the company’s stock.

Premier Stock Up 0.5 %

Premier stock opened at $22.39 on Monday. Premier, Inc. has a 52-week low of $17.95 and a 52-week high of $23.56. The company has a market cap of $2.15 billion, a price-to-earnings ratio of 16.46 and a beta of 0.43. The firm’s fifty day moving average is $21.88 and its 200 day moving average is $20.80.

Premier (NASDAQ:PINC) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.09. Premier had a net margin of 11.41% and a return on equity of 10.74%. The firm had revenue of $248.14 million during the quarter, compared to the consensus estimate of $232.85 million. During the same quarter last year, the firm earned $0.50 EPS. The firm’s revenue for the quarter was down 7.8% compared to the same quarter last year. On average, equities research analysts anticipate that Premier, Inc. will post 1.12 earnings per share for the current fiscal year.

Premier Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 3.75%. The ex-dividend date of this dividend is Friday, February 28th. Premier’s dividend payout ratio is currently 61.77%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PINC. Canaccord Genuity Group lifted their price target on shares of Premier from $19.00 to $21.00 and gave the stock a “hold” rating in a research note on Wednesday, November 6th. StockNews.com lowered shares of Premier from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th. Barclays raised their price target on Premier from $20.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 6th. Finally, Robert W. Baird upped their price objective on Premier from $19.00 to $20.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Ten research analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $21.36.

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.