M&T Bank Corp Purchases Shares of 10,054 Premier, Inc. (NASDAQ:PINC)

M&T Bank Corp purchased a new stake in shares of Premier, Inc. (NASDAQ:PINC) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 10,054 shares of the company’s stock, valued at approximately $201,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Y Intercept Hong Kong Ltd boosted its stake in Premier by 2.4% during the third quarter. Y Intercept Hong Kong Ltd now owns 20,409 shares of the company’s stock valued at $408,000 after buying an additional 478 shares in the last quarter. Arizona State Retirement System lifted its holdings in Premier by 2.0% in the 2nd quarter. Arizona State Retirement System now owns 33,542 shares of the company’s stock valued at $626,000 after acquiring an additional 653 shares during the last quarter. Abich Financial Wealth Management LLC raised its holdings in shares of Premier by 37.0% during the second quarter. Abich Financial Wealth Management LLC now owns 2,672 shares of the company’s stock valued at $50,000 after acquiring an additional 721 shares during the period. GAMMA Investing LLC lifted its position in shares of Premier by 137.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,347 shares of the company’s stock valued at $27,000 after acquiring an additional 780 shares in the last quarter. Finally, Impact Partnership Wealth LLC boosted its stake in Premier by 7.1% in the 3rd quarter. Impact Partnership Wealth LLC now owns 11,945 shares of the company’s stock worth $239,000 after purchasing an additional 795 shares during the period. Institutional investors own 74.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. JPMorgan Chase & Co. cut their target price on shares of Premier from $21.00 to $19.00 and set a “neutral” rating on the stock in a research note on Monday, September 9th. Benchmark downgraded Premier from a “buy” rating to a “hold” rating in a research note on Monday, August 26th. Canaccord Genuity Group raised their price objective on Premier from $19.00 to $21.00 and gave the stock a “hold” rating in a research report on Wednesday, November 6th. Barclays upped their target price on Premier from $20.00 to $24.00 and gave the company an “equal weight” rating in a report on Wednesday, November 6th. Finally, Robert W. Baird raised their price target on shares of Premier from $19.00 to $20.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Ten analysts have rated the stock with a hold rating, According to MarketBeat, Premier has a consensus rating of “Hold” and an average target price of $21.36.

Premier Stock Performance

Shares of NASDAQ PINC opened at $21.51 on Friday. The business has a 50 day simple moving average of $21.54 and a 200 day simple moving average of $20.21. Premier, Inc. has a 52 week low of $17.95 and a 52 week high of $23.56. The stock has a market cap of $2.07 billion, a price-to-earnings ratio of 15.82 and a beta of 0.42.

Premier (NASDAQ:PINC) last posted its earnings results on Tuesday, November 5th. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.25 by $0.09. The company had revenue of $248.14 million during the quarter, compared to the consensus estimate of $232.85 million. Premier had a net margin of 11.41% and a return on equity of 10.74%. The company’s revenue for the quarter was down 7.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.50 earnings per share. On average, analysts predict that Premier, Inc. will post 1.09 EPS for the current year.

Premier Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st were given a $0.21 dividend. The ex-dividend date was Friday, November 29th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.91%. Premier’s dividend payout ratio is currently 61.76%.

Insiders Place Their Bets

In related news, Director John T. Bigalke sold 1,136 shares of the business’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $22.19, for a total value of $25,207.84. Following the completion of the sale, the director now directly owns 23,846 shares in the company, valued at approximately $529,142.74. The trade was a 4.55 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Leigh Anderson sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $19.62, for a total value of $392,400.00. Following the sale, the chief operating officer now directly owns 131,707 shares of the company’s stock, valued at $2,584,091.34. The trade was a 13.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 94,825 shares of company stock valued at $1,980,442 over the last quarter. Insiders own 0.96% of the company’s stock.

Premier Profile

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.