Panagora Asset Management Inc. Reduces Holdings in Premier, Inc. (NASDAQ:PINC)

Panagora Asset Management Inc. lowered its position in Premier, Inc. (NASDAQ:PINC) by 55.6% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 9,129 shares of the company’s stock after selling 11,434 shares during the period. Panagora Asset Management Inc.’s holdings in Premier were worth $204,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of PINC. Global Retirement Partners LLC boosted its position in Premier by 153.3% during the fourth quarter. Global Retirement Partners LLC now owns 1,583 shares of the company’s stock worth $35,000 after acquiring an additional 958 shares during the last quarter. Hexagon Capital Partners LLC boosted its holdings in shares of Premier by 71.7% during the 4th quarter. Hexagon Capital Partners LLC now owns 1,660 shares of the company’s stock worth $37,000 after purchasing an additional 693 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its position in shares of Premier by 53.0% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,138 shares of the company’s stock valued at $46,000 after purchasing an additional 741 shares in the last quarter. Janiczek Wealth Management LLC increased its holdings in shares of Premier by 246.5% in the fourth quarter. Janiczek Wealth Management LLC now owns 2,533 shares of the company’s stock valued at $57,000 after purchasing an additional 1,802 shares during the last quarter. Finally, Van ECK Associates Corp lifted its position in Premier by 22.4% during the fourth quarter. Van ECK Associates Corp now owns 3,289 shares of the company’s stock worth $74,000 after buying an additional 601 shares in the last quarter. Hedge funds and other institutional investors own 74.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on PINC shares. SVB Leerink began coverage on Premier in a report on Monday, February 26th. They issued a “market perform” rating and a $22.50 target price for the company. Piper Sandler cut their price objective on shares of Premier from $24.00 to $22.00 and set a “neutral” rating for the company in a research report on Wednesday, May 8th. Canaccord Genuity Group reiterated a “hold” rating and issued a $21.00 target price (down from $27.00) on shares of Premier in a report on Wednesday, May 8th. StockNews.com upgraded shares of Premier from a “hold” rating to a “buy” rating in a report on Thursday, May 9th. Finally, Leerink Partnrs reiterated a “market perform” rating on shares of Premier in a report on Monday, February 26th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $23.50.

Insider Activity at Premier

In other news, insider Andy Brailo sold 7,458 shares of the stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $19.33, for a total transaction of $144,163.14. Following the sale, the insider now owns 111,745 shares of the company’s stock, valued at $2,160,030.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Andy Brailo sold 7,458 shares of the company’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $19.33, for a total transaction of $144,163.14. Following the sale, the insider now owns 111,745 shares of the company’s stock, valued at $2,160,030.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Helen M. Boudreau sold 6,629 shares of Premier stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $19.85, for a total value of $131,585.65. Following the completion of the transaction, the director now owns 16,067 shares of the company’s stock, valued at $318,929.95. The disclosure for this sale can be found here. Insiders sold 42,418 shares of company stock worth $827,570 in the last three months. 0.85% of the stock is owned by company insiders.

Premier Stock Down 0.3 %

NASDAQ:PINC opened at $18.99 on Friday. Premier, Inc. has a 52 week low of $18.65 and a 52 week high of $28.30. The stock’s fifty day moving average is $20.75 and its two-hundred day moving average is $21.22. The stock has a market capitalization of $1.99 billion, a price-to-earnings ratio of 29.67, a price-to-earnings-growth ratio of 6.38 and a beta of 0.39. The company has a quick ratio of 0.82, a current ratio of 0.93 and a debt-to-equity ratio of 0.01.

Premier Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Saturday, June 15th. Investors of record on Saturday, June 1st will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 4.42%. The ex-dividend date is Friday, May 31st. Premier’s payout ratio is 131.25%.

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.