Quantinno Capital Management LP Purchases 87,601 Shares of Premier, Inc. (NASDAQ:PINC)

Quantinno Capital Management LP boosted its holdings in Premier, Inc. (NASDAQ:PINC - Free Report) by 310.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 115,833 shares of the company's stock after buying an additional 87,601 shares during the period. Quantinno Capital Management LP owned approximately 0.12% of Premier worth $2,317,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of PINC. GAMMA Investing LLC raised its stake in shares of 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 purchasing an additional 780 shares during the period. Quarry LP raised its stake in shares of Premier by 576.7% during the third quarter. Quarry LP now owns 2,179 shares of the company's stock valued at $44,000 after purchasing an additional 1,857 shares during the period. Meeder Asset Management Inc. purchased a new stake in shares of Premier during the second quarter valued at approximately $47,000. Abich Financial Wealth Management LLC raised its stake in shares of Premier by 37.0% during the second quarter. Abich Financial Wealth Management LLC now owns 2,672 shares of the company's stock valued at $50,000 after purchasing an additional 721 shares during the period. Finally, nVerses Capital LLC purchased a new stake in shares of Premier during the second quarter valued at approximately $56,000. Hedge funds and other institutional investors own 74.41% of the company's stock.

Premier Price Performance

Shares of NASDAQ PINC traded up $0.03 during midday trading on Wednesday, reaching $21.80. 350,168 shares of the company traded hands, compared to its average volume of 1,298,185. Premier, Inc. has a 52 week low of $17.95 and a 52 week high of $23.56. The stock has a 50-day moving average price of $21.21 and a 200 day moving average price of $20.10. The company has a market cap of $2.10 billion, a price-to-earnings ratio of 16.01 and a beta of 0.42.

Premier (NASDAQ:PINC - Get Free Report) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.34 earnings per share for the quarter, beating analysts' consensus estimates of $0.25 by $0.09. Premier had a net margin of 11.41% and a return on equity of 10.74%. The business had revenue of $248.14 million for the quarter, compared to analysts' expectations of $232.85 million. During the same period in the previous year, the business earned $0.50 earnings per share. The company's revenue was down 7.8% on a year-over-year basis. As a group, analysts expect that Premier, Inc. will post 1.09 EPS for the current year.

Premier Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 3.85%. The ex-dividend date is Friday, November 29th. Premier's dividend payout ratio (DPR) is presently 61.77%.

Insiders Place Their Bets

In other Premier news, CFO Craig S. Mckasson sold 10,000 shares of the business's stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $20.41, for a total transaction of $204,100.00. Following the sale, the chief financial officer now owns 263,699 shares in the company, valued at approximately $5,382,096.59. The trade was a 3.65 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Leigh Anderson sold 20,000 shares of the business'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 sale, the chief operating officer now owns 131,707 shares in the company, valued at approximately $2,584,091.34. The trade was a 13.18 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 86,451 shares of company stock worth $1,783,989. 0.96% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

PINC has been the subject of a number of recent analyst reports. Benchmark downgraded shares of Premier from a "buy" rating to a "hold" rating in a research report on Monday, August 26th. Canaccord Genuity Group raised their price target on shares of Premier from $19.00 to $21.00 and gave the stock a "hold" rating in a research report on Wednesday, November 6th. Robert W. Baird raised their price target on shares of Premier from $19.00 to $20.00 and gave the stock a "neutral" rating in a research report on Wednesday, November 6th. StockNews.com downgraded shares of Premier from a "buy" rating to a "hold" rating in a research report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. decreased their price objective 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, the company currently has a consensus rating of "Hold" and a consensus price target of $21.36.

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.