Friedenthal Financial Invests $976,000 in Premier, Inc. $PINC

Friedenthal Financial bought a new position in Premier, Inc. (NASDAQ:PINC) in the 2nd quarter, HoldingsChannel reports. The fund bought 44,484 shares of the company’s stock, valued at approximately $976,000.

Other hedge funds also recently made changes to their positions in the company. Signaturefd LLC grew its position in shares of Premier by 72.2% in the 2nd quarter. Signaturefd LLC now owns 2,197 shares of the company’s stock worth $48,000 after acquiring an additional 921 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Premier by 112.1% in the 2nd quarter. GAMMA Investing LLC now owns 2,522 shares of the company’s stock worth $55,000 after acquiring an additional 1,333 shares in the last quarter. Parallel Advisors LLC grew its position in shares of Premier by 2,172.9% in the 2nd quarter. Parallel Advisors LLC now owns 2,932 shares of the company’s stock worth $64,000 after acquiring an additional 2,803 shares in the last quarter. Vestcor Inc acquired a new position in Premier during the 1st quarter valued at approximately $125,000. Finally, Atlas Capital Advisors Inc. acquired a new position in Premier during the 1st quarter valued at approximately $125,000. Institutional investors and hedge funds own 74.41% of the company’s stock.

Insider Buying and Selling at Premier

In other news, insider Andy Brailo sold 6,521 shares of the business’s stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $25.79, for a total value of $168,176.59. Following the sale, the insider owned 99,447 shares of the company’s stock, valued at approximately $2,564,738.13. The trade was a 6.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel David L. Klatsky sold 1,319 shares of the business’s stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $25.85, for a total value of $34,096.15. Following the completion of the sale, the general counsel directly owned 94,331 shares in the company, valued at $2,438,456.35. This represents a 1.38% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 12,326 shares of company stock valued at $317,230 in the last quarter. Corporate insiders own 0.96% of the company’s stock.

Premier Price Performance

Shares of Premier stock opened at $27.91 on Wednesday. The business’s fifty day moving average price is $25.68 and its two-hundred day moving average price is $22.82. The company has a market capitalization of $2.30 billion, a P/E ratio of 126.87 and a beta of 0.64. Premier, Inc. has a 1-year low of $17.23 and a 1-year high of $28.79.

Premier Dividend Announcement

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

Analyst Ratings Changes

PINC has been the subject of a number of analyst reports. Leerink Partners boosted their price objective on Premier from $24.00 to $26.00 and gave the company a “market perform” rating in a research report on Tuesday, August 19th. Bank of America boosted their price objective on Premier from $19.00 to $21.00 and gave the company an “underperform” rating in a research report on Tuesday, August 19th. Piper Sandler boosted their price objective on Premier from $24.00 to $28.00 and gave the company a “neutral” rating in a research report on Monday, August 25th. UBS Group boosted their price objective on Premier from $26.00 to $28.25 and gave the company a “neutral” rating in a research report on Thursday, September 25th. Finally, Robert W. Baird boosted their price objective on Premier from $22.00 to $27.00 and gave the company a “neutral” rating in a research report on Wednesday, August 20th. Seven investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Premier currently has a consensus rating of “Reduce” and an average price target of $26.07.

Premier 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.