Quantinno Capital Management LP Grows Stock Holdings in Premier, Inc. (NASDAQ:PINC)

Quantinno Capital Management LP increased its stake in shares of Premier, Inc. (NASDAQ:PINC) by 310.3% in the 3rd quarter, Holdings Channel reports. The firm owned 115,833 shares of the company’s stock after buying an additional 87,601 shares during the period. Quantinno Capital Management LP’s holdings in Premier were worth $2,317,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in PINC. GAMMA Investing LLC raised 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 during the last quarter. Quarry LP increased its holdings in Premier by 576.7% during the third quarter. Quarry LP now owns 2,179 shares of the company’s stock valued at $44,000 after buying an additional 1,857 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in Premier during the second quarter valued at approximately $47,000. Abich Financial Wealth Management LLC increased its holdings in Premier by 37.0% during the second quarter. Abich Financial Wealth Management LLC now owns 2,672 shares of the company’s stock valued at $50,000 after buying an additional 721 shares during the last quarter. Finally, nVerses Capital LLC purchased a new stake in Premier during the second quarter valued at approximately $56,000. 74.41% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Premier news, COO Leigh Anderson sold 20,000 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $19.62, for a total transaction of $392,400.00. Following the completion of the transaction, the chief operating officer now owns 131,707 shares in the company, valued at $2,584,091.34. This trade represents a 13.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael J. Alkire sold 18,736 shares of the stock in a transaction on Friday, September 27th. The shares were sold at an average price of $20.05, for a total transaction of $375,656.80. Following the transaction, the chief executive officer now owns 559,407 shares of the company’s stock, valued at $11,216,110.35. This trade represents a 3.24 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 86,451 shares of company stock worth $1,783,989. 0.96% of the stock is owned by insiders.

Premier Stock Performance

Shares of NASDAQ:PINC opened at $21.77 on Wednesday. The firm has a fifty day moving average price of $21.21 and a 200 day moving average price of $20.10. Premier, Inc. has a fifty-two week low of $17.95 and a fifty-two week high of $23.56. The firm has a market cap of $2.09 billion, a price-to-earnings ratio of 16.01 and a beta of 0.42.

Premier (NASDAQ:PINC) last issued its earnings results on Tuesday, November 5th. The company reported $0.34 earnings per share for the quarter, topping 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 analyst estimates of $232.85 million. During the same quarter in the prior year, the business earned $0.50 earnings per share. Premier’s revenue for the quarter was down 7.8% on a year-over-year basis. As a group, research analysts predict that Premier, Inc. will post 1.09 earnings per share for the current year.

Premier Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 15th. Investors of record on Sunday, December 1st will be given a dividend of $0.21 per share. The ex-dividend date is Friday, November 29th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.86%. Premier’s dividend payout ratio is 61.77%.

Analyst Upgrades and Downgrades

PINC has been the subject of a number of research reports. Benchmark cut shares of Premier from a “buy” rating to a “hold” rating in a report on Monday, August 26th. JPMorgan Chase & Co. reduced their target price on shares of Premier from $21.00 to $19.00 and set a “neutral” rating for the company in a report on Monday, September 9th. Robert W. Baird upped their price target on shares of Premier from $19.00 to $20.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. Barclays upped their price target on shares of Premier from $20.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 6th. Finally, StockNews.com lowered shares of Premier from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. Ten investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $21.36.

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.