Premier, Inc. (NASDAQ:PINC) Shares Purchased by Brandes Investment Partners LP

Brandes Investment Partners LP boosted its holdings in shares of Premier, Inc. (NASDAQ:PINC) by 123.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 842,326 shares of the company’s stock after buying an additional 464,710 shares during the quarter. Brandes Investment Partners LP owned 0.88% of Premier worth $17,857,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Premier in the fourth quarter valued at $386,000. HighTower Advisors LLC grew its stake in Premier by 9.3% during the 4th quarter. HighTower Advisors LLC now owns 35,450 shares of the company’s stock worth $752,000 after purchasing an additional 3,020 shares in the last quarter. AlphaQuest LLC grew its stake in Premier by 1,091.9% during the 4th quarter. AlphaQuest LLC now owns 42,503 shares of the company’s stock worth $901,000 after purchasing an additional 38,937 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in Premier by 45.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 8,674 shares of the company’s stock worth $184,000 after purchasing an additional 2,712 shares in the last quarter. Finally, Jackson Creek Investment Advisors LLC acquired a new position in Premier during the 4th quarter worth $1,570,000. Hedge funds and other institutional investors own 74.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on PINC shares. Canaccord Genuity Group lowered their target price on Premier from $21.00 to $19.00 and set a “hold” rating for the company in a research note on Wednesday, February 5th. Piper Sandler lowered their target price on Premier from $21.00 to $19.00 and set a “neutral” rating for the company in a research note on Wednesday, February 5th. Finally, Robert W. Baird lowered their target price on Premier from $20.00 to $19.00 and set a “neutral” rating for the company in a research note on Wednesday, February 5th. Eight analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $20.17.

Premier Trading Up 1.1 %

NASDAQ PINC opened at $18.16 on Friday. The business’s 50 day moving average is $19.92 and its two-hundred day moving average is $20.58. Premier, Inc. has a 12-month low of $17.23 and a 12-month high of $23.56. The stock has a market capitalization of $1.66 billion, a price-to-earnings ratio of -181.58 and a beta of 0.39.

Premier Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 4.63%. The ex-dividend date is Friday, February 28th. Premier’s payout ratio is -840.00%.

Insider Buying and Selling

In related news, COO Leigh Anderson sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $21.88, for a total value of $437,600.00. Following the sale, the chief operating officer now owns 111,707 shares in the company, valued at $2,444,149.16. This represents a 15.19 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Helen M. Boudreau sold 2,500 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the director now owns 20,668 shares in the company, valued at approximately $442,708.56. This represents a 10.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,637 shares of company stock worth $511,093 in the last quarter. Company insiders own 0.96% of the company’s stock.

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.