California Public Employees Retirement System Decreases Stock Position in Premier, Inc. (NASDAQ:PINC)

California Public Employees Retirement System lessened its position in Premier, Inc. (NASDAQ:PINCGet Rating) by 3.3% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 245,557 shares of the company’s stock after selling 8,456 shares during the quarter. California Public Employees Retirement System’s holdings in Premier were worth $8,761,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Parallel Advisors LLC lifted its position in Premier by 37.0% during the second quarter. Parallel Advisors LLC now owns 1,185 shares of the company’s stock worth $42,000 after buying an additional 320 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Premier during the second quarter worth approximately $44,000. EverSource Wealth Advisors LLC purchased a new position in Premier during the second quarter worth approximately $53,000. MetLife Investment Management LLC purchased a new position in Premier during the first quarter worth approximately $84,000. Finally, Meeder Asset Management Inc. lifted its position in Premier by 23,236.4% during the first quarter. Meeder Asset Management Inc. now owns 5,134 shares of the company’s stock worth $183,000 after buying an additional 5,112 shares in the last quarter. Hedge funds and other institutional investors own 68.18% of the company’s stock.

Premier Trading Up 1.5 %

Shares of NASDAQ PINC opened at $32.91 on Wednesday. Premier, Inc. has a twelve month low of $30.82 and a twelve month high of $41.72. The company has a current ratio of 0.88, a quick ratio of 0.73 and a debt-to-equity ratio of 0.08. The stock has a fifty day simple moving average of $33.31 and a 200-day simple moving average of $35.60. The stock has a market capitalization of $3.91 billion, a PE ratio of 21.23, a PEG ratio of 1.35 and a beta of 0.35.

Premier Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Thursday, December 1st will be paid a $0.21 dividend. The ex-dividend date is Wednesday, November 30th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.55%. Premier’s payout ratio is presently 54.19%.

Wall Street Analyst Weigh In

PINC has been the topic of a number of analyst reports. Robert W. Baird upgraded Premier from a “neutral” rating to an “outperform” rating and set a $41.00 price objective on the stock in a research report on Wednesday, November 2nd. Benchmark lifted their price objective on Premier from $44.00 to $46.00 and gave the stock a “buy” rating in a research report on Wednesday, August 24th. StockNews.com started coverage on Premier in a research note on Wednesday, October 12th. They set a “buy” rating for the company. Raymond James cut their target price on Premier from $45.00 to $40.00 and set an “outperform” rating for the company in a research note on Thursday, November 3rd. Finally, Canaccord Genuity Group raised their target price on Premier from $44.00 to $46.00 in a research note on Wednesday, August 17th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $40.56.

Premier Profile

(Get Rating)

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.

See Also

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Institutional Ownership by Quarter for Premier (NASDAQ:PINC)

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