Pacer Advisors Inc. Has $113.53 Million Position in Premier, Inc. (NASDAQ:PINC)

Pacer Advisors Inc. trimmed its holdings in shares of Premier, Inc. (NASDAQ:PINC) by 10.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,355,220 shares of the company’s stock after selling 632,825 shares during the period. Pacer Advisors Inc. owned about 5.57% of Premier worth $113,531,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Brooklyn Investment Group raised its holdings in Premier by 61,750.0% during the fourth quarter. Brooklyn Investment Group now owns 1,237 shares of the company’s stock worth $26,000 after acquiring an additional 1,235 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Premier by 137.6% during the 3rd quarter. GAMMA Investing LLC now owns 1,347 shares of the company’s stock worth $27,000 after purchasing an additional 780 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Premier in the 3rd quarter valued at approximately $39,000. Quarry LP grew its stake in shares of Premier by 576.7% in the third quarter. Quarry LP now owns 2,179 shares of the company’s stock valued at $44,000 after buying an additional 1,857 shares in the last quarter. Finally, Quest Partners LLC increased its holdings in Premier by 356,500.0% during the third quarter. Quest Partners LLC now owns 3,566 shares of the company’s stock worth $71,000 after buying an additional 3,565 shares during the last quarter. Institutional investors own 74.41% of the company’s stock.

Wall Street Analyst Weigh In

PINC has been the subject of a number of recent analyst reports. Barclays increased their price target on shares of Premier from $20.00 to $24.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 6th. Canaccord Genuity Group lifted their price target on Premier from $19.00 to $21.00 and gave the stock a “hold” rating in a report on Wednesday, November 6th. Robert W. Baird boosted their price target on Premier from $19.00 to $20.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. Finally, StockNews.com cut Premier from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. Ten analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $21.36.

Premier Trading Up 0.5 %

Shares of NASDAQ PINC opened at $22.39 on Monday. The firm has a market cap of $2.15 billion, a P/E ratio of 16.46 and a beta of 0.43. The business’s 50 day moving average is $21.88 and its 200-day moving average is $20.80. Premier, Inc. has a 1-year low of $17.95 and a 1-year high of $23.56.

Premier (NASDAQ:PINC) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.09. The firm had revenue of $248.14 million for the quarter, compared to analysts’ expectations of $232.85 million. Premier had a return on equity of 10.74% and a net margin of 11.41%. The company’s quarterly revenue was down 7.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.50 EPS. Analysts forecast that Premier, Inc. will post 1.12 EPS for the current year.

Premier Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 3.75%. The ex-dividend date is Friday, February 28th. Premier’s dividend payout ratio is currently 61.77%.

Insiders Place Their Bets

In other Premier news, CEO Michael J. Alkire sold 17,415 shares of the company’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $23.16, for a total transaction of $403,331.40. Following the completion of the sale, the chief executive officer now directly owns 520,728 shares in the company, valued at $12,060,060.48. This represents a 3.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Helen M. Boudreau sold 2,500 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $21.42, for a total value of $53,550.00. Following the completion of the sale, the director now directly owns 20,668 shares in the company, valued at approximately $442,708.56. This represents a 10.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 59,425 shares of company stock worth $1,320,242 in the last quarter. Corporate insiders own 0.96% of the company’s stock.

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.