Gladius Capital Management LP Takes Position in Premier, Inc. (NASDAQ:PINC)

Gladius Capital Management LP acquired a new stake in Premier, Inc. (NASDAQ:PINC) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 3,624 shares of the company’s stock, valued at approximately $68,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mitsubishi UFJ Trust & Banking Corp bought a new position in shares of Premier in the 1st quarter worth about $27,000. Hexagon Capital Partners LLC grew its position in Premier by 71.7% during the 4th quarter. Hexagon Capital Partners LLC now owns 1,660 shares of the company’s stock valued at $37,000 after purchasing an additional 693 shares during the last quarter. Versant Capital Management Inc boosted its holdings in shares of Premier by 265.2% during the 2nd quarter. Versant Capital Management Inc now owns 2,140 shares of the company’s stock valued at $40,000 after acquiring an additional 1,554 shares during the last quarter. Abich Financial Wealth Management LLC boosted its holdings in shares of Premier by 50.0% during the 1st quarter. Abich Financial Wealth Management LLC now owns 1,951 shares of the company’s stock valued at $43,000 after acquiring an additional 650 shares during the last quarter. Finally, Parallel Advisors LLC boosted its holdings in shares of Premier by 141.2% during the 4th quarter. Parallel Advisors LLC now owns 1,980 shares of the company’s stock valued at $44,000 after acquiring an additional 1,159 shares during the last quarter. 74.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on PINC shares. Canaccord Genuity Group restated a “hold” rating and set a $21.00 target price (down previously from $27.00) on shares of Premier in a research note on Wednesday, May 8th. StockNews.com raised shares of Premier from a “hold” rating to a “buy” rating in a report on Thursday, May 9th. Canaccord Genuity Group lowered shares of Premier from a “buy” rating to a “hold” rating and cut their target price for the company from $27.00 to $21.00 in a report on Wednesday, May 8th. Piper Sandler cut their target price on shares of Premier from $24.00 to $22.00 and set a “neutral” rating for the company in a report on Wednesday, May 8th. Finally, Robert W. Baird cut their target price on shares of Premier from $25.00 to $22.00 and set a “neutral” rating for the company in a report on Wednesday, May 8th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $23.50.

Insider Activity

In related news, General Counsel David L. Klatsky sold 13,339 shares of the stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $18.55, for a total value of $247,438.45. Following the transaction, the general counsel now owns 92,001 shares in the company, valued at $1,706,618.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, General Counsel David L. Klatsky sold 13,339 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $18.55, for a total value of $247,438.45. Following the completion of the transaction, the general counsel now directly owns 92,001 shares of the company’s stock, valued at $1,706,618.55. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Craig S. Mckasson sold 30,000 shares of the stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $20.00, for a total value of $600,000.00. Following the transaction, the chief financial officer now owns 288,110 shares of the company’s stock, valued at $5,762,200. The disclosure for this sale can be found here. Insiders have sold 161,217 shares of company stock worth $3,167,767 in the last 90 days. Company insiders own 0.85% of the company’s stock.

Premier Price Performance

PINC stock traded up $0.12 during trading on Friday, hitting $20.13. The company had a trading volume of 971,566 shares, compared to its average volume of 1,481,118. The firm has a market capitalization of $2.11 billion, a price-to-earnings ratio of 31.45, a P/E/G ratio of 6.57 and a beta of 0.42. The business has a 50 day moving average of $19.25 and a 200 day moving average of $20.23. Premier, Inc. has a fifty-two week low of $17.95 and a fifty-two week high of $26.07. The company has a current ratio of 0.93, a quick ratio of 0.82 and a debt-to-equity ratio of 0.01.

Premier Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, September 15th. Shareholders of record on Sunday, September 1st will be issued a dividend of $0.21 per share. The ex-dividend date is Friday, August 30th. This represents a $0.84 annualized dividend and a yield of 4.17%. Premier’s payout ratio is presently 131.25%.

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.