Exchange Traded Concepts LLC Purchases 51,955 Shares of Premier, Inc. (NASDAQ:PINC)

Exchange Traded Concepts LLC increased its holdings in Premier, Inc. (NASDAQ:PINC - Free Report) by 165.5% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 83,350 shares of the company's stock after buying an additional 51,955 shares during the period. Exchange Traded Concepts LLC owned 0.08% of Premier worth $1,667,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Mitsubishi UFJ Trust & Banking Corp bought a new stake in Premier during the first quarter worth about $27,000. GAMMA Investing LLC grew its position in Premier by 137.6% during the third quarter. GAMMA Investing LLC now owns 1,347 shares of the company's stock valued at $27,000 after acquiring an additional 780 shares during the last quarter. Versant Capital Management Inc raised its stake in shares of Premier by 265.2% during the second quarter. Versant Capital Management Inc now owns 2,140 shares of the company's stock worth $40,000 after acquiring an additional 1,554 shares in the last quarter. Abich Financial Wealth Management LLC lifted its holdings in shares of Premier by 50.0% in the 1st quarter. Abich Financial Wealth Management LLC now owns 1,951 shares of the company's stock worth $43,000 after acquiring an additional 650 shares during the last quarter. Finally, Meeder Asset Management Inc. purchased a new stake in shares of Premier in the 2nd quarter valued at $47,000. 74.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Premier news, CFO Craig S. Mckasson sold 30,000 shares of the business's stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $20.00, for a total value of $600,000.00. Following the sale, the chief financial officer now directly owns 288,110 shares of the company's stock, valued at approximately $5,762,200. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Andy Brailo sold 4,390 shares of the company's stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $20.51, for a total value of $90,038.90. Following the transaction, the insider now directly owns 104,410 shares of the company's stock, valued at approximately $2,141,449.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Craig S. Mckasson sold 30,000 shares of the business's stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $20.00, for a total value of $600,000.00. Following the completion of the transaction, the chief financial officer now owns 288,110 shares of the company's stock, valued at $5,762,200. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 186,312 shares of company stock worth $3,779,250 in the last three months. 0.85% of the stock is owned by corporate insiders.

Premier Stock Up 2.0 %

Shares of NASDAQ:PINC traded up $0.38 on Wednesday, hitting $19.75. The company had a trading volume of 507,316 shares, compared to its average volume of 1,397,388. Premier, Inc. has a 1 year low of $17.95 and a 1 year high of $23.01. The firm's 50-day simple moving average is $19.88 and its two-hundred day simple moving average is $19.77. The firm has a market capitalization of $2.07 billion, a price-to-earnings ratio of 30.86, a P/E/G ratio of 9.08 and a beta of 0.41.

Premier (NASDAQ:PINC - Get Free Report) last posted 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 return on equity of 11.69% and a net margin of 8.88%. The firm had revenue of $350.30 million for the quarter, compared to the consensus estimate of $308.88 million. During the same quarter in the prior year, the business earned $0.70 EPS. The business's revenue for the quarter was up 2.9% on a year-over-year basis. Equities research analysts anticipate that Premier, Inc. will post 1.04 EPS for the current year.

Premier Dividend Announcement

The firm 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 dividend on an annualized basis and a dividend yield of 4.25%. The ex-dividend date of this dividend was Friday, August 30th. Premier's dividend payout ratio is presently 131.25%.

Wall Street Analysts Forecast Growth

PINC has been the subject of several recent research reports. JPMorgan Chase & Co. lowered 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 Monday, September 9th. Canaccord Genuity Group cut their target price on shares of Premier from $20.00 to $19.00 and set a "hold" rating on the stock in a report on Wednesday, October 2nd. Benchmark lowered shares of Premier from a "buy" rating to a "hold" rating in a report on Monday, August 26th. StockNews.com lowered shares of Premier from a "buy" rating to a "hold" rating in a report on Thursday, September 12th. Finally, Robert W. Baird lowered their price objective on shares of Premier from $22.00 to $19.00 and set a "neutral" rating for the company in a research note on Wednesday, August 21st. Ten research analysts have rated the stock with a hold rating, According to MarketBeat.com, Premier presently has an average rating of "Hold" and an average price target of $21.81.

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.