Premier, Inc. (NASDAQ:PINC) Shares Bought by Healthcare of Ontario Pension Plan Trust Fund

Posted by on Feb 27th, 2023

Healthcare of Ontario Pension Plan Trust Fund increased its stake in Premier, Inc. (NASDAQ:PINC – Get Rating) by 260.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,430 shares of the company’s stock after purchasing an additional 24,881 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Premier were worth $1,169,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Premier by 3.6% in the 1st quarter. Vanguard Group Inc. now owns 11,216,796 shares of the company’s stock worth $399,205,000 after purchasing an additional 390,512 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Premier by 5.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,365,617 shares of the company’s stock worth $114,230,000 after purchasing an additional 177,415 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Premier by 2.5% in the 2nd quarter. Renaissance Technologies LLC now owns 2,744,689 shares of the company’s stock worth $97,931,000 after purchasing an additional 67,300 shares in the last quarter. First Trust Advisors LP lifted its stake in Premier by 9.2% during the 1st quarter. First Trust Advisors LP now owns 2,459,509 shares of the company’s stock valued at $87,534,000 after acquiring an additional 206,525 shares during the period. Finally, State Street Corp lifted its stake in Premier by 3.0% during the 1st quarter. State Street Corp now owns 2,172,151 shares of the company’s stock valued at $77,307,000 after acquiring an additional 63,399 shares during the period. 66.93% of the stock is currently owned by institutional investors and hedge funds.

Premier Price Performance

Shares of NASDAQ PINC opened at $32.87 on Monday. The firm has a market cap of $3.91 billion, a PE ratio of 22.36, a PEG ratio of 1.38 and a beta of 0.28. The firm has a fifty day moving average of $33.67 and a 200 day moving average of $33.99. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.60 and a current ratio of 0.72. Premier, Inc. has a one year low of $30.82 and a one year high of $38.98.

Premier (NASDAQ:PINC – Get Rating) last issued its quarterly earnings results on Tuesday, February 7th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.59 by $0.11. The company had revenue of $359.63 million during the quarter, compared to analyst estimates of $358.36 million. Premier had a net margin of 12.85% and a return on equity of 11.54%. As a group, research analysts predict that Premier, Inc. will post 2.38 EPS for the current fiscal year.

Premier Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 15th. Shareholders of record on Wednesday, March 1st will be paid a dividend of $0.21 per share. The ex-dividend date is Tuesday, February 28th. This represents a $0.84 annualized dividend and a yield of 2.56%. Premier’s dividend payout ratio (DPR) is presently 57.14%.

Analysts Set New Price Targets

Several analysts have commented on the stock. SVB Leerink decreased their price objective on shares of Premier from $46.00 to $42.00 and set an “outperform” rating for the company in a research note on Wednesday, February 8th. Robert W. Baird upgraded shares of Premier from a “neutral” rating to an “outperform” rating and set a $41.00 price objective for the company in a research note on Wednesday, November 2nd. Credit Suisse Group upgraded shares of Premier from an “underperform” rating to a “neutral” rating and set a $38.00 price objective for the company in a research note on Friday, January 27th. StockNews.com cut shares of Premier from a “strong-buy” rating to a “buy” rating in a research note on Monday, January 23rd. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Premier from $41.00 to $30.00 and set a “neutral” rating for the company in a research note on Friday, November 18th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $40.70.

Premier Profile

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Premier, Inc engages in the provision of healthcare improvement solutions. It operates through the Supply Chain Services and Performance Services segments. The Supply Chain Services segment includes healthcare group purchasing organization (GPO) programs in the United States, supply chain co-management, and direct sourcing activities.

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Institutional Ownership by Quarter for Premier (NASDAQ:PINC)

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