State of Alaska Department of Revenue Sells 5,195 Shares of Premier, Inc. (NASDAQ:PINC)

State of Alaska Department of Revenue lessened its position in Premier, Inc. (NASDAQ:PINC) by 1.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 287,375 shares of the company’s stock after selling 5,195 shares during the period. State of Alaska Department of Revenue owned 0.30% of Premier worth $6,091,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Y Intercept Hong Kong Ltd grew its stake in shares of Premier by 2.4% in the third quarter. Y Intercept Hong Kong Ltd now owns 20,409 shares of the company’s stock worth $408,000 after purchasing an additional 478 shares during the last quarter. GAMMA Investing LLC increased 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 buying an additional 780 shares during the period. Impact Partnership Wealth LLC increased its stake in shares of Premier by 7.1% during the third quarter. Impact Partnership Wealth LLC now owns 11,945 shares of the company’s stock valued at $239,000 after buying an additional 795 shares during the period. QRG Capital Management Inc. raised its holdings in shares of Premier by 6.7% during the third quarter. QRG Capital Management Inc. now owns 18,657 shares of the company’s stock valued at $373,000 after acquiring an additional 1,171 shares in the last quarter. Finally, KBC Group NV boosted its holdings in Premier by 40.9% in the third quarter. KBC Group NV now owns 4,047 shares of the company’s stock valued at $81,000 after acquiring an additional 1,174 shares in the last quarter. Hedge funds and other institutional investors own 74.41% of the company’s stock.

Premier Price Performance

Shares of NASDAQ:PINC opened at $18.76 on Friday. The business has a fifty day moving average price of $21.60 and a 200-day moving average price of $20.92. The company has a market capitalization of $1.80 billion, a PE ratio of 13.79 and a beta of 0.43. Premier, Inc. has a 1-year low of $17.95 and a 1-year high of $23.56.

Premier (NASDAQ:PINC) last released 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. The business had revenue of $248.14 million during the quarter, compared to analyst estimates of $232.85 million. Premier had a net margin of 11.41% and a return on equity of 10.74%. Premier’s revenue was down 7.8% compared to the same quarter last year. During the same period last year, the business earned $0.50 EPS. On average, sell-side analysts anticipate that Premier, Inc. will post 1.12 earnings per share for the current fiscal year.

Premier Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 15th. Investors of record on Saturday, March 1st will be issued a $0.21 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.84 dividend on an annualized basis and a yield of 4.48%. Premier’s payout ratio is currently 61.77%.

Insider Activity at Premier

In other news, 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 transaction of $25,207.84. Following the transaction, the director now directly owns 23,846 shares of the company’s stock, valued at $529,142.74. This represents a 4.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Michael J. Alkire sold 17,415 shares of the business’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $23.16, for a total value of $403,331.40. Following the completion of the transaction, the chief executive officer now directly owns 520,728 shares of the company’s stock, valued at approximately $12,060,060.48. This trade represents a 3.24 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 59,425 shares of company stock valued at $1,320,242. 0.96% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have commented on the stock. Robert W. Baird decreased their price objective on shares of Premier from $20.00 to $19.00 and set a “neutral” rating for the company in a report on Wednesday. Canaccord Genuity Group cut their price objective on Premier from $21.00 to $19.00 and set a “hold” rating on the stock in a research report on Wednesday. Barclays increased their target price on Premier from $20.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 6th. StockNews.com downgraded Premier from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th. Finally, Piper Sandler dropped their target price on shares of Premier from $21.00 to $19.00 and set a “neutral” rating on the stock in a report on Wednesday. Ten investment analysts have rated the stock with a hold rating, According to MarketBeat.com, Premier currently has a consensus rating of “Hold” and an average target price of $20.50.

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.