Teachers Retirement System of The State of Kentucky Invests $802,000 in Premier, Inc. (NASDAQ:PINC)

Teachers Retirement System of The State of Kentucky bought a new stake in Premier, Inc. (NASDAQ:PINCFree Report) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 37,300 shares of the company’s stock, valued at approximately $802,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Point72 Asset Management L.P. grew its stake in Premier by 73.8% in the second quarter. Point72 Asset Management L.P. now owns 2,423,200 shares of the company’s stock valued at $67,026,000 after purchasing an additional 1,028,558 shares in the last quarter. Norges Bank bought a new position in Premier in the fourth quarter valued at approximately $24,419,000. Invenomic Capital Management LP grew its stake in Premier by 368.7% in the second quarter. Invenomic Capital Management LP now owns 829,742 shares of the company’s stock valued at $22,951,000 after purchasing an additional 652,696 shares in the last quarter. Principal Financial Group Inc. grew its stake in Premier by 7,070.1% in the third quarter. Principal Financial Group Inc. now owns 633,188 shares of the company’s stock valued at $13,614,000 after purchasing an additional 624,357 shares in the last quarter. Finally, Segall Bryant & Hamill LLC bought a new position in Premier in the second quarter valued at approximately $16,098,000. Institutional investors and hedge funds own 66.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on PINC. Barclays began coverage on Premier in a research note on Wednesday, January 3rd. They set an “equal weight” rating and a $22.00 target price for the company. Leerink Partnrs reiterated a “market perform” rating on shares of Premier in a research note on Monday, February 26th. SVB Leerink began coverage on Premier in a research note on Monday, February 26th. They set a “market perform” rating and a $22.50 target price for the company. Finally, StockNews.com downgraded Premier from a “buy” rating to a “hold” rating in a research note on Wednesday, February 7th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Premier presently has a consensus rating of “Hold” and a consensus target price of $25.15.

Check Out Our Latest Research Report on Premier

Premier Price Performance

Shares of NASDAQ PINC opened at $21.48 on Thursday. The stock has a market capitalization of $2.57 billion, a PE ratio of 15.45, a P/E/G ratio of 5.54 and a beta of 0.37. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.43 and a quick ratio of 1.32. The business has a fifty day moving average price of $21.50 and a two-hundred day moving average price of $21.29. Premier, Inc. has a fifty-two week low of $18.89 and a fifty-two week high of $33.58.

Premier (NASDAQ:PINCGet Free Report) last announced its quarterly earnings data on Monday, February 5th. The company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.02. The firm had revenue of $334.75 million during the quarter, compared to analysts’ expectations of $338.55 million. Premier had a return on equity of 11.60% and a net margin of 12.71%. As a group, equities analysts predict that Premier, Inc. will post 1.95 earnings per share for the current fiscal year.

Premier Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a $0.21 dividend. The ex-dividend date was Thursday, February 29th. This represents a $0.84 annualized dividend and a yield of 3.91%. Premier’s dividend payout ratio is presently 60.43%.

About Premier

(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.

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Institutional Ownership by Quarter for Premier (NASDAQ:PINC)

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