Martingale Asset Management L P Increases Stake in Premier Inc (NASDAQ:PINC)
According to recent disclosures from the Securities and Exchange Commission, Martingale Asset Management L P has increased its stake in Premier, Inc. (NASDAQ:PINC) by 88.8% in the fourth quarter of 2022. This institutional investor now owns 21,809 shares of the company’s stock, after acquiring an additional 10,255 shares during the period.
As of its most recent SEC filing, Martingale Asset Management L P’s holdings in Premier were worth an estimated $763,000. Premier is a healthcare improvement solutions provider that operates through two segments: Supply Chain Services and Performance Services.
The Supply Chain Services segment includes healthcare group purchasing organization (GPO) programs in the United States, supply chain co-management and direct sourcing activities. Shares of PINC stock opened on Tuesday at $26.08 and have since fluctuated within a range that extends between $24.88 and $38.98 over a fifty-two week period.
Despite both its quick ratio (0.62) and current ratio (0.72), as well as a debt-to-equity ratio of just 0.05, investors may find PA to be undervalued given its market capitalization ($3.11 billion), price-to-earnings ratio (16.94), price/earnings growth ratio (1.13), and beta value (.29).
Given current economic conditions marked by ever-evolving Covid variants coupled with government regulation on the health care industry at large; it remains to be seen whether or not Premier will emerge in a position to compete effectively against industry rivals such as Vizient Inc., HealthTrust Purchasing Group LP., among others.
Martingale Asset Management L P’s move to increase its stake represents confidence in Premier’s business operations despite volatile financial markets characterized by industry headwinds that could jeopardize sustained long-term growth and success. Only time will tell whether or not such confidence is well-placed.
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Institutional Investors Boost Ownership in Premier Inc. as Analysts Offer Mixed Ratings and Price Targets
Premier Inc. (NASDAQ:PINC) has recently seen an increase in shares by a number of institutional investors, including Healthcare of Ontario Pension Plan Trust Fund, CAPROCK Group Inc., LSV Asset Management, IFP Advisors Inc., and Aigen Investment Management LP. Institutional investors now own nearly 67% of the company’s stock.
This news comes as several analysts have weighed in on PINC shares. Raymond James downgraded Premier from an “outperform” rating to a “market perform” rating, while Benchmark reduced their price target on the company from $46.00 to $37.00. SVB Leerink also lowered their price objective on Premier from $46.00 to $42.00 but maintained an “outperform” rating for the company.
Robert W. Baird is among those who cut shares of Premier from an “outperform” rating to a more neutral “neutral” rating and decreased their target price for the stock from $43 to $30 per share in early May.
However, StockNews.com began coverage on Premier at a “buy” rating in late May.
Overall, Bloomberg data shows that analysts have given Premier a consensus rating of a “Moderate Buy,” with a consensus price target of $37.22 per share.
Premier also recently announced its quarterly dividend payment of $0.21 per share will be paid out to shareholders on Thursday, June 15th, with ex-dividend date falling on Wednesday, May 31st.
In light of this recent news, we suggest keeping a close eye on PINC shares in the coming weeks for any further market activity or analyst updates that may impact investor strategies and decision-making processes moving forward.