Connor Clark & Lunn Investment Management Ltd. Buys New Shares in Premier, Inc. (NASDAQ:PINC)

Connor Clark & Lunn Investment Management Ltd. purchased a new position in Premier, Inc. (NASDAQ:PINC - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 18,223 shares of the company's stock, valued at approximately $386,000.

Several other large investors also recently bought and sold shares of PINC. Quest Partners LLC boosted its stake in Premier by 356,500.0% during the third quarter. Quest Partners LLC now owns 3,566 shares of the company's stock worth $71,000 after buying an additional 3,565 shares during the last quarter. Advisors Asset Management Inc. boosted its position in shares of Premier by 812.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 15,114 shares of the company's stock valued at $302,000 after acquiring an additional 13,457 shares during the last quarter. Landscape Capital Management L.L.C. acquired a new position in shares of Premier during the 3rd quarter valued at about $316,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Premier by 5.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,741,784 shares of the company's stock valued at $34,836,000 after purchasing an additional 97,458 shares during the period. Finally, Cerity Partners LLC increased its position in Premier by 17.5% during the third quarter. Cerity Partners LLC now owns 86,669 shares of the company's stock worth $1,733,000 after purchasing an additional 12,879 shares during the last quarter. Hedge funds and other institutional investors own 74.41% of the company's stock.

Wall Street Analyst Weigh In

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

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Insider Activity at Premier

In other news, Director Helen M. Boudreau sold 2,500 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $21.42, for a total transaction of $53,550.00. Following the sale, the director now owns 20,668 shares of the company's stock, valued at approximately $442,708.56. This represents a 10.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.96% of the stock is currently owned by company insiders.

Premier Stock Up 0.9 %

NASDAQ PINC traded up $0.17 on Thursday, reaching $19.19. The stock had a trading volume of 769,472 shares, compared to its average volume of 1,240,489. The firm has a market capitalization of $1.75 billion, a price-to-earnings ratio of -191.88 and a beta of 0.39. Premier, Inc. has a 12-month low of $17.23 and a 12-month high of $23.56. The stock has a fifty day moving average price of $19.45 and a two-hundred day moving average price of $20.48.

Premier Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Saturday, March 15th. Investors of record on Saturday, March 1st were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 4.38%. The ex-dividend date of this dividend was Friday, February 28th. Premier's payout ratio is -840.00%.

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.