State of Alaska Department of Revenue Sells 5,195 Shares of Premier, Inc. (NASDAQ:PINC)

State of Alaska Department of Revenue lessened its stake in shares of Premier, Inc. (NASDAQ:PINC) by 1.8% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 287,375 shares of the company’s stock after selling 5,195 shares during the period. State of Alaska Department of Revenue’s holdings in Premier were worth $6,091,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Brooklyn Investment Group lifted its stake in shares of Premier by 61,750.0% during the 4th quarter. Brooklyn Investment Group now owns 1,237 shares of the company’s stock valued at $26,000 after buying an additional 1,235 shares in the last quarter. GAMMA Investing LLC raised its holdings in 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 acquiring an additional 780 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in shares of Premier in the third quarter valued at about $39,000. Quarry LP boosted its stake in shares of Premier by 576.7% in the third quarter. Quarry LP now owns 2,179 shares of the company’s stock worth $44,000 after acquiring an additional 1,857 shares during the period. Finally, Quest Partners LLC boosted its stake 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 purchasing an additional 3,565 shares during the period. Hedge funds and other institutional investors own 74.41% of the company’s stock.

Insider Buying and Selling

In related news, CEO Michael J. Alkire sold 18,374 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $21.80, for a total value of $400,553.20. Following the completion of the sale, the chief executive officer now owns 502,354 shares in the company, valued at approximately $10,951,317.20. The trade was a 3.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Helen M. Boudreau sold 2,500 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $21.42, for a total value of $53,550.00. Following the transaction, the director now directly owns 20,668 shares in the company, valued at $442,708.56. The trade was a 10.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 59,425 shares of company stock valued at $1,320,242 in the last 90 days. Company insiders own 0.96% of the company’s stock.

Premier Price Performance

Premier stock opened at $18.76 on Friday. The firm has a market capitalization of $1.80 billion, a P/E ratio of 13.79 and a beta of 0.43. Premier, Inc. has a 1-year low of $17.95 and a 1-year high of $23.56. The company’s 50-day moving average is $21.60 and its 200 day moving average is $20.92.

Premier (NASDAQ:PINC) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.25 by $0.09. Premier had a return on equity of 10.74% and a net margin of 11.41%. The company had revenue of $248.14 million for the quarter, compared to the consensus estimate of $232.85 million. During the same quarter in the prior year, the company posted $0.50 EPS. Premier’s quarterly revenue was down 7.8% on a year-over-year basis. 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 declared a quarterly dividend, which will be paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.48%. The ex-dividend date is Friday, February 28th. Premier’s payout ratio is presently 61.77%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PINC. Piper Sandler reduced their price target on shares of Premier from $21.00 to $19.00 and set a “neutral” rating on the stock in a report on Wednesday. Canaccord Genuity Group reduced their target price on Premier from $21.00 to $19.00 and set a “hold” rating on the stock in a report on Wednesday. Robert W. Baird dropped their price target on Premier from $20.00 to $19.00 and set a “neutral” rating for the company in a research note on Wednesday. StockNews.com downgraded Premier from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th. Finally, Barclays raised their target price on shares of Premier from $20.00 to $24.00 and gave the company an “equal weight” rating in a report on Wednesday, November 6th. Ten investment analysts have rated the stock with a hold rating, According to MarketBeat.com, Premier presently has a consensus rating of “Hold” and a consensus target price of $20.50.

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.