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Verition Fund Management LLC Makes New $1.41 Million Investment in Premier, Inc. (NASDAQ:PINC)

Premier logo with Medical background

Verition Fund Management LLC bought a new stake in shares of Premier, Inc. (NASDAQ:PINC - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 70,679 shares of the company's stock, valued at approximately $1,414,000. Verition Fund Management LLC owned about 0.07% of Premier as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently modified their holdings of PINC. Walleye Capital LLC purchased a new position in shares of Premier during the third quarter valued at about $828,000. FMR LLC boosted its stake in Premier by 91.8% during the third quarter. FMR LLC now owns 23,609 shares of the company's stock worth $472,000 after acquiring an additional 11,300 shares in the last quarter. Quantbot Technologies LP purchased a new stake in Premier in the third quarter worth about $1,044,000. Cerity Partners LLC increased its position in Premier by 17.5% during the 3rd quarter. Cerity Partners LLC now owns 86,669 shares of the company's stock valued at $1,733,000 after buying an additional 12,879 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Premier by 5.9% during 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 acquiring an additional 97,458 shares in the last quarter. Hedge funds and other institutional investors own 74.41% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on PINC. Benchmark cut shares of Premier from a "buy" rating to a "hold" rating in a research note on Monday, August 26th. StockNews.com downgraded shares of Premier from a "buy" rating to a "hold" rating in a research report on Tuesday, November 5th. Barclays lifted their target price on shares of Premier from $20.00 to $24.00 and gave the stock an "equal weight" rating in a research report on Wednesday, November 6th. JPMorgan Chase & Co. decreased their target price 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. Finally, Robert W. Baird raised their price target on Premier from $19.00 to $20.00 and gave the stock a "neutral" rating in a research note on Wednesday, November 6th. Ten equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Premier has a consensus rating of "Hold" and an average price target of $21.36.

Read Our Latest Research Report on Premier

Premier Stock Performance

PINC stock traded down $0.36 during midday trading on Friday, reaching $21.61. The company's stock had a trading volume of 549,483 shares, compared to its average volume of 718,217. The firm has a market capitalization of $2.08 billion, a price-to-earnings ratio of 15.89, a PEG ratio of 9.96 and a beta of 0.42. Premier, Inc. has a 1 year low of $17.95 and a 1 year high of $23.56. The stock has a fifty day simple moving average of $21.12 and a two-hundred day simple moving average of $20.06.

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

Premier Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 15th. Investors of record on Sunday, December 1st will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 3.89%. The ex-dividend date is Friday, November 29th. Premier's dividend payout ratio (DPR) is 61.77%.

Insiders Place Their Bets

In other Premier news, insider Andy Brailo sold 17,000 shares of Premier stock in a transaction on Monday, September 9th. The shares were sold at an average price of $20.41, for a total value of $346,970.00. Following the transaction, the insider now directly owns 87,410 shares of the company's stock, valued at approximately $1,784,038.10. The trade was a 16.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John T. Bigalke sold 1,136 shares of the company's stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $22.19, for a total value of $25,207.84. Following the transaction, the director now directly owns 23,846 shares in the company, valued at approximately $529,142.74. The trade was a 4.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 103,451 shares of company stock worth $2,130,959 over the last 90 days. Company insiders own 0.96% of the company's stock.

Premier Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Premier (NASDAQ:PINC)

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