Royce & Associates LP Reduces Position in Premier, Inc. (NASDAQ:PINC)

Royce & Associates LP trimmed its position in shares of Premier, Inc. (NASDAQ:PINC) by 44.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,293 shares of the company’s stock after selling 17,139 shares during the period. Royce & Associates LP’s holdings in Premier were worth $426,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mitsubishi UFJ Trust & Banking Corp bought a new stake in shares of Premier during the 1st quarter worth approximately $27,000. UniSuper Management Pty Ltd purchased a new stake in shares of Premier during the first quarter valued at $670,000. CANADA LIFE ASSURANCE Co boosted its stake in shares of Premier by 4.0% during the first quarter. CANADA LIFE ASSURANCE Co now owns 131,037 shares of the company’s stock valued at $2,896,000 after purchasing an additional 5,062 shares during the period. Westwood Holdings Group Inc. grew its holdings in shares of Premier by 6.4% in the first quarter. Westwood Holdings Group Inc. now owns 339,808 shares of the company’s stock worth $7,510,000 after purchasing an additional 20,416 shares during the last quarter. Finally, Quadrature Capital Ltd purchased a new position in Premier in the 1st quarter worth about $210,000. 74.41% of the stock is owned by hedge funds and other institutional investors.

Premier Stock Down 0.3 %

Shares of Premier stock opened at $22.23 on Thursday. Premier, Inc. has a 52-week low of $17.95 and a 52-week high of $23.43. The firm’s 50 day moving average price is $20.52 and its 200-day moving average price is $19.82. The company has a market cap of $2.14 billion, a P/E ratio of 16.35, a PEG ratio of 10.11 and a beta of 0.40.

Premier (NASDAQ:PINC) last released its quarterly earnings results on Tuesday, November 5th. The company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.09. The company had revenue of $248.14 million during the quarter, compared to analysts’ expectations of $232.85 million. Premier had a return on equity of 10.74% and a net margin of 11.41%. The firm’s revenue was down 7.8% compared to the same quarter last year. During the same period last year, the business posted $0.50 earnings per share. As a group, equities research analysts forecast that Premier, Inc. will post 1.09 EPS for the current fiscal year.

Premier Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st will be paid a dividend of $0.21 per share. The ex-dividend date is Friday, November 29th. This represents a $0.84 annualized dividend and a dividend yield of 3.78%. Premier’s payout ratio is currently 61.77%.

Insider Activity

In other Premier news, CEO Michael J. Alkire sold 1,264 shares of the business’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $20.01, for a total transaction of $25,292.64. Following the sale, the chief executive officer now owns 558,143 shares in the company, valued at approximately $11,168,441.43. The trade was a 0.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Leigh Anderson sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $19.62, for a total value of $392,400.00. Following the completion of the transaction, the chief operating officer now owns 131,707 shares of the company’s stock, valued at approximately $2,584,091.34. The trade was a 13.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 142,856 shares of company stock valued at $2,941,879 over the last ninety days. 0.96% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. StockNews.com downgraded shares of Premier from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th. Barclays upped their target price on Premier from $20.00 to $24.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 6th. Robert W. Baird raised their price target on Premier from $19.00 to $20.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. Canaccord Genuity Group increased their target price on shares of Premier from $19.00 to $21.00 and gave the stock a “hold” rating in a report on Wednesday, November 6th. Finally, JPMorgan Chase & Co. reduced their price target 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. Ten equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $21.36.

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.