Premier, Inc. (NASDAQ:PINC) Shares Acquired by Treasurer of the State of North Carolina

Treasurer of the State of North Carolina boosted its position in Premier, Inc. (NASDAQ:PINCFree Report) by 129.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 143,730 shares of the company’s stock after acquiring an additional 80,999 shares during the quarter. Treasurer of the State of North Carolina owned 0.12% of Premier worth $3,090,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Rhumbline Advisers boosted its holdings in shares of Premier by 108.0% in the 3rd quarter. Rhumbline Advisers now owns 350,447 shares of the company’s stock valued at $7,535,000 after buying an additional 181,979 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in Premier during the 3rd quarter worth $1,712,000. Victory Capital Management Inc. boosted its stake in Premier by 984.9% during the 3rd quarter. Victory Capital Management Inc. now owns 518,964 shares of the company’s stock worth $11,158,000 after purchasing an additional 471,131 shares during the period. Comerica Bank acquired a new stake in Premier during the 2nd quarter worth $10,194,000. Finally, ING Groep NV acquired a new stake in Premier during the 3rd quarter worth $1,793,000. Institutional investors and hedge funds own 66.85% of the company’s stock.

Premier Price Performance

PINC opened at $20.84 on Tuesday. The stock has a market capitalization of $2.50 billion, a PE ratio of 14.99, a P/E/G ratio of 5.30 and a beta of 0.37. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.32 and a current ratio of 1.43. Premier, Inc. has a 1 year low of $18.89 and a 1 year high of $33.58. The company’s 50 day simple moving average is $21.83 and its 200 day simple moving average is $21.43.

Premier (NASDAQ:PINCGet Free Report) last announced its quarterly earnings results on Monday, February 5th. The company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.02. The firm had revenue of $334.75 million for the quarter, compared to analysts’ expectations of $338.55 million. Premier had a net margin of 12.71% and a return on equity of 11.60%. As a group, sell-side analysts expect that Premier, Inc. will post 1.95 EPS for the current year.

Premier Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Friday, March 1st will be paid a $0.21 dividend. The ex-dividend date is Thursday, February 29th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.03%. Premier’s dividend payout ratio (DPR) is presently 60.43%.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. StockNews.com cut shares of Premier from a “buy” rating to a “hold” rating in a research note on Wednesday, February 7th. Barclays started coverage on shares of Premier in a report on Wednesday, January 3rd. They issued an “equal weight” rating and a $22.00 price target for the company. Benchmark cut their price target on shares of Premier from $32.00 to $30.00 and set a “buy” rating for the company in a report on Thursday, November 9th. JPMorgan Chase & Co. cut their price target on shares of Premier from $26.00 to $21.00 and set a “neutral” rating for the company in a report on Monday, November 13th. Finally, SVB Leerink started coverage on shares of Premier in a report on Monday, February 26th. They issued a “market perform” rating and a $22.50 price target for the company. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Premier has a consensus rating of “Hold” and a consensus target price of $25.15.

View Our Latest Stock Analysis on PINC

Premier Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Premier (NASDAQ:PINC)

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