Premier, Inc. $PINC Shares Acquired by QRG Capital Management Inc.

QRG Capital Management Inc. lifted its stake in shares of Premier, Inc. (NASDAQ:PINC) by 33.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 21,663 shares of the company’s stock after acquiring an additional 5,387 shares during the quarter. QRG Capital Management Inc.’s holdings in Premier were worth $475,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in PINC. Signaturefd LLC increased its stake 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 during the period. GAMMA Investing LLC boosted its holdings in Premier by 112.1% during the second quarter. GAMMA Investing LLC now owns 2,522 shares of the company’s stock worth $55,000 after buying an additional 1,333 shares in the last quarter. Parallel Advisors LLC boosted its holdings in Premier by 2,172.9% during the second quarter. Parallel Advisors LLC now owns 2,932 shares of the company’s stock worth $64,000 after buying an additional 2,803 shares in the last quarter. Vestcor Inc bought a new stake in Premier during the first quarter worth approximately $125,000. Finally, Atlas Capital Advisors Inc. bought a new stake in Premier during the first quarter worth approximately $125,000. Institutional investors and hedge funds own 74.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. UBS Group raised their target price on shares of Premier from $26.00 to $28.25 and gave the stock a “neutral” rating in a report on Thursday, September 25th. Robert W. Baird raised their target price on shares of Premier from $22.00 to $27.00 and gave the stock a “neutral” rating in a report on Wednesday, August 20th. Canaccord Genuity Group raised their target price on shares of Premier from $25.00 to $28.25 and gave the stock a “hold” rating in a report on Tuesday, September 23rd. Piper Sandler raised their target price on shares of Premier from $24.00 to $28.00 and gave the stock a “neutral” rating in a report on Monday, August 25th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Premier in a report on Wednesday. Seven equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Premier presently has an average rating of “Reduce” and a consensus price target of $26.07.

Insider Activity at Premier

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

Premier Stock Down 0.4%

Shares of NASDAQ:PINC opened at $27.78 on Friday. The firm has a fifty day moving average of $26.07 and a two-hundred day moving average of $22.98. The firm has a market capitalization of $2.29 billion, a P/E ratio of 126.28 and a beta of 0.64. Premier, Inc. has a 12-month low of $17.23 and a 12-month high of $28.79.

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

Premier Announces Dividend

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

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.