Impact Partnership Wealth LLC Grows Stock Holdings in Premier, Inc. (NASDAQ:PINC)

Impact Partnership Wealth LLC grew its holdings in shares of Premier, Inc. (NASDAQ:PINC) by 7.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,945 shares of the company’s stock after buying an additional 795 shares during the quarter. Impact Partnership Wealth LLC’s holdings in Premier were worth $239,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Mitsubishi UFJ Trust & Banking Corp purchased a new position in shares of Premier in the first quarter valued at $27,000. GAMMA Investing LLC boosted its stake in shares of Premier by 137.6% in 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 period. Versant Capital Management Inc boosted its stake in shares of Premier by 265.2% in the second quarter. Versant Capital Management Inc now owns 2,140 shares of the company’s stock valued at $40,000 after purchasing an additional 1,554 shares during the period. Abich Financial Wealth Management LLC boosted its stake in shares of Premier by 50.0% in the first quarter. Abich Financial Wealth Management LLC now owns 1,951 shares of the company’s stock valued at $43,000 after purchasing an additional 650 shares during the period. Finally, Meeder Asset Management Inc. purchased a new position in shares of Premier in the second quarter valued at $47,000. 74.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on PINC. Robert W. Baird reduced their price objective on shares of Premier from $22.00 to $19.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 21st. StockNews.com downgraded shares of Premier from a “buy” rating to a “hold” rating in a research note on Thursday, September 12th. Benchmark downgraded shares of Premier from a “buy” rating to a “hold” rating in a research note on Monday, August 26th. Canaccord Genuity Group reduced their price objective on shares of Premier from $20.00 to $19.00 and set a “hold” rating on the stock in a research note on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Premier from $21.00 to $19.00 and set a “neutral” rating on the stock in a research note on Monday, September 9th. Ten analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $21.81.

Premier Stock Performance

Shares of NASDAQ:PINC opened at $19.85 on Friday. The stock has a market capitalization of $1.99 billion, a price-to-earnings ratio of 19.27, a price-to-earnings-growth ratio of 9.43 and a beta of 0.41. Premier, Inc. has a 1-year low of $17.95 and a 1-year high of $23.01. The company’s fifty day moving average is $19.90 and its two-hundred day moving average is $19.73.

Premier (NASDAQ:PINC) last issued its earnings results on Tuesday, August 20th. The company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.25. Premier had a net margin of 8.88% and a return on equity of 11.69%. The company had revenue of $350.30 million for the quarter, compared to analysts’ expectations of $308.88 million. During the same period in the prior year, the company earned $0.70 earnings per share. The firm’s revenue was up 2.9% compared to the same quarter last year. Sell-side analysts expect that Premier, Inc. will post 1.04 EPS for the current fiscal year.

Premier Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 15th. Investors of record on Sunday, September 1st were issued a $0.21 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.23%. Premier’s dividend payout ratio (DPR) is presently 81.55%.

Insider Buying and Selling

In related news, COO Leigh Anderson sold 20,000 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $19.62, for a total value of $392,400.00. Following the sale, the chief operating officer now owns 131,707 shares of the company’s stock, valued at $2,584,091.34. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Premier news, COO Leigh Anderson sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $19.62, for a total transaction of $392,400.00. Following the transaction, the chief operating officer now owns 131,707 shares of the company’s stock, valued at approximately $2,584,091.34. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael J. Alkire sold 19,362 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $20.83, for a total transaction of $403,310.46. Following the transaction, the chief executive officer now directly owns 578,143 shares in the company, valued at approximately $12,042,718.69. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 154,212 shares of company stock valued at $3,134,991 in the last quarter. Company insiders own 0.85% of the company’s stock.

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.