Y Intercept Hong Kong Ltd Purchases 478 Shares of Premier, Inc. (NASDAQ:PINC)

Y Intercept Hong Kong Ltd grew its holdings in Premier, Inc. (NASDAQ:PINC) by 2.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 20,409 shares of the company’s stock after purchasing an additional 478 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Premier were worth $408,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. GAMMA Investing LLC boosted its position in shares of Premier by 137.6% in 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 period. Quarry LP boosted its holdings in Premier by 576.7% in the 3rd 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. acquired a new stake in Premier in the 2nd quarter worth $47,000. Abich Financial Wealth Management LLC increased its holdings in shares of Premier by 37.0% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 2,672 shares of the company’s stock worth $50,000 after purchasing an additional 721 shares during the period. Finally, nVerses Capital LLC acquired a new position in shares of Premier during the second quarter valued at about $56,000. 74.41% of the stock is currently owned by institutional investors.

Premier Price Performance

PINC opened at $21.76 on Tuesday. The stock has a market capitalization of $2.09 billion, a P/E ratio of 16.00 and a beta of 0.42. The company’s 50 day simple moving average is $21.41 and its 200-day simple moving average is $20.18. Premier, Inc. has a one year low of $17.95 and a one year high of $23.56.

Premier (NASDAQ:PINC) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.09. The business had revenue of $248.14 million for the quarter, compared to analyst estimates of $232.85 million. Premier had a return on equity of 10.74% and a net margin of 11.41%. The firm’s revenue for the quarter was down 7.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.50 earnings per share. As a group, analysts anticipate that Premier, Inc. will post 1.09 EPS for the current year.

Premier Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st were given a $0.21 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.84 annualized dividend and a dividend yield of 3.86%. Premier’s dividend payout ratio is currently 61.76%.

Insider Transactions at Premier

In other Premier news, CFO Craig S. Mckasson sold 10,000 shares of the stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $20.41, for a total value of $204,100.00. Following the sale, the chief financial officer now directly owns 263,699 shares in the company, valued at approximately $5,382,096.59. This trade represents a 3.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Michael J. Alkire sold 18,374 shares of Premier stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $21.80, for a total value of $400,553.20. Following the transaction, the chief executive officer now owns 502,354 shares in the company, valued at approximately $10,951,317.20. This represents a 3.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 104,825 shares of company stock worth $2,184,542 in the last three months. Insiders own 0.96% of the company’s stock.

Analyst Upgrades and Downgrades

PINC has been the subject of several recent research reports. Barclays upped their price target on Premier from $20.00 to $24.00 and gave the company an “equal weight” rating in a report on Wednesday, November 6th. Canaccord Genuity Group raised their target price on Premier from $19.00 to $21.00 and gave the stock a “hold” rating in a research report on Wednesday, November 6th. JPMorgan Chase & Co. lowered their price target on shares of Premier from $21.00 to $19.00 and set a “neutral” rating on the stock in a report on Monday, September 9th. StockNews.com cut shares of Premier from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th. Finally, 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 research report on Wednesday, November 6th. Ten equities research analysts have rated the stock with a hold rating, According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $21.36.

About Premier

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.