Edgestream Partners L.P. Purchases Shares of 275,202 Premier, Inc. (NASDAQ:PINC)

Edgestream Partners L.P. purchased a new stake in shares of Premier, Inc. (NASDAQ:PINC - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 275,202 shares of the company's stock, valued at approximately $5,138,000. Edgestream Partners L.P. owned about 0.26% of Premier as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Abich Financial Wealth Management LLC lifted its holdings in shares of Premier by 50.0% during the first quarter. Abich Financial Wealth Management LLC now owns 1,951 shares of the company's stock worth $43,000 after purchasing an additional 650 shares during the period. Arizona State Retirement System raised its holdings in Premier by 2.0% in the 2nd quarter. Arizona State Retirement System now owns 33,542 shares of the company's stock valued at $626,000 after acquiring an additional 653 shares during the last quarter. Comerica Bank lifted its position in Premier by 0.9% during the first quarter. Comerica Bank now owns 77,422 shares of the company's stock worth $1,711,000 after buying an additional 728 shares in the last quarter. Parallel Advisors LLC raised its holdings in shares of Premier by 141.2% during the 4th quarter. Parallel Advisors LLC now owns 1,980 shares of the company's stock worth $44,000 after acquiring an additional 1,159 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp purchased a new position in Premier during the first quarter worth about $27,000. 74.41% of the stock is owned by hedge funds and other institutional investors.

Premier Trading Down 0.2 %

Shares of PINC stock traded down $0.05 during mid-day trading on Wednesday, reaching $20.48. The stock had a trading volume of 1,000,880 shares, compared to its average volume of 1,445,873. The business has a 50-day simple moving average of $20.02 and a 200 day simple moving average of $20.03. Premier, Inc. has a 12-month low of $17.95 and a 12-month high of $23.01. The company has a market cap of $2.15 billion, a P/E ratio of 32.13, a price-to-earnings-growth ratio of 9.31 and a beta of 0.40.

Premier (NASDAQ:PINC - Get Free Report) last issued its quarterly 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. The company had revenue of $350.30 million for the quarter, compared to analyst estimates of $308.88 million. Premier had a return on equity of 11.69% and a net margin of 8.88%. The business's revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.70 EPS. Research analysts anticipate that Premier, Inc. will post 1.04 EPS for the current year.

Premier Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, September 15th. Stockholders of record on Sunday, September 1st were given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 4.10%. The ex-dividend date of this dividend was Friday, August 30th. Premier's payout ratio is 131.25%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on PINC shares. JPMorgan Chase & Co. decreased their price target on Premier from $21.00 to $19.00 and set a "neutral" rating on the stock in a research note on Monday, September 9th. Canaccord Genuity Group cut their price target on Premier from $21.00 to $20.00 and set a "hold" rating on the stock in a report on Wednesday, August 21st. Robert W. Baird cut their price target on 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 lowered Premier from a "buy" rating to a "hold" rating in a research report on Thursday, September 12th. Finally, Benchmark downgraded Premier from a "buy" rating to a "hold" rating in a report on Monday, August 26th. Ten equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, Premier presently has a consensus rating of "Hold" and a consensus price target of $21.94.

Insider Buying and Selling at Premier

In related news, General Counsel David L. Klatsky sold 1,319 shares of the business's stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $19.96, for a total value of $26,327.24. Following the transaction, the general counsel now owns 102,467 shares in the company, valued at $2,045,241.32. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, General Counsel David L. Klatsky sold 1,319 shares of Premier stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $19.96, for a total value of $26,327.24. Following the completion of the transaction, the general counsel now directly owns 102,467 shares in the company, valued at $2,045,241.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Leigh Anderson sold 20,000 shares of the business's stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $18.63, for a total value of $372,600.00. Following the completion of the sale, the chief operating officer now owns 163,928 shares of the company's stock, valued at $3,053,978.64. The disclosure for this sale can be found here. Insiders sold 156,312 shares of company stock valued at $3,154,400 over the last 90 days. 0.85% of the stock is owned by corporate insiders.

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.