UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Reduces Position in Premier, Inc. (NASDAQ:PINC)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its position in Premier, Inc. (NASDAQ:PINC - Free Report) by 7.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 330,459 shares of the company's stock after selling 26,274 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.33% of Premier worth $6,609,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PINC. Pacer Advisors Inc. grew its position in Premier by 384.3% during the 2nd quarter. Pacer Advisors Inc. now owns 6,311,089 shares of the company's stock worth $117,828,000 after purchasing an additional 5,007,851 shares during the period. Dimensional Fund Advisors LP grew its holdings in Premier by 14.9% during the second quarter. Dimensional Fund Advisors LP now owns 5,951,043 shares of the company's stock worth $111,105,000 after acquiring an additional 773,207 shares during the period. American Century Companies Inc. grew its holdings in Premier by 60.4% during the second quarter. American Century Companies Inc. now owns 2,051,578 shares of the company's stock worth $38,303,000 after acquiring an additional 772,392 shares during the period. Edgestream Partners L.P. purchased a new position in Premier during the second quarter valued at approximately $5,138,000. Finally, Squarepoint Ops LLC lifted its holdings in Premier by 145.5% in the second quarter. Squarepoint Ops LLC now owns 381,799 shares of the company's stock valued at $7,128,000 after acquiring an additional 226,290 shares during the period. Hedge funds and other institutional investors own 74.41% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on PINC. Robert W. Baird lifted their target price on shares of Premier from $19.00 to $20.00 and gave the company a "neutral" rating in a report 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 research note on Wednesday, November 6th. Barclays upped their price target on Premier from $20.00 to $24.00 and gave the stock an "equal weight" rating in a report on Wednesday, November 6th. Benchmark downgraded Premier from a "buy" rating to a "hold" rating in a research note on Monday, August 26th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Premier from $21.00 to $19.00 and set a "neutral" rating on the stock in a research note on Monday, September 9th. Ten equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, Premier currently has a consensus rating of "Hold" and a consensus price target of $21.36.

Insider Activity

In related news, CFO Craig S. Mckasson sold 10,000 shares of the business's stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $20.41, for a total value 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 can be accessed through this hyperlink. Also, CEO Michael J. Alkire sold 18,736 shares of Premier stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $20.05, for a total value of $375,656.80. Following the completion of the transaction, the chief executive officer now directly owns 559,407 shares of the company's stock, valued at approximately $11,216,110.35. This represents a 3.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 86,451 shares of company stock valued at $1,783,989. 0.96% of the stock is currently owned by company insiders.

Premier Stock Performance

Shares of PINC stock traded down $0.02 during trading hours on Wednesday, reaching $21.75. The company had a trading volume of 810,020 shares, compared to its average volume of 1,300,180. Premier, Inc. has a 12-month low of $17.95 and a 12-month high of $23.56. The company has a market capitalization of $2.09 billion, a price-to-earnings ratio of 16.01 and a beta of 0.42. The stock has a fifty day moving average of $21.21 and a 200-day moving average of $20.10.

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

Premier Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.86%. Premier's dividend payout ratio is currently 61.77%.

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.