An investment management firm, Wedge Capital Management L L P NC, has reported a substantial increase in its holdings of Premier, Inc. (NASDAQ: PINC) shares during the second quarter of this year. According to the company’s 13F filing with the Securities and Exchange Commission (SEC), Wedge Capital Management acquired an additional 106,432 shares, representing a boost of 1,245.8%. As a result, the fund now owns 114,975 shares of Premier’s stock. Based on this most recent filing with the SEC, the value of these shares amounts to approximately $3,180,000.
Premier is a prominent healthcare improvement company that offers services and solutions aimed at enhancing healthcare performance for both providers and patients. With an impressive portfolio and commitment to innovation, Premier has become a leader in this industry.
Aside from increasing their stake in Premier, Wedge Capital Management L L P NC also made note of Premier’s recent declaration of its quarterly dividend. This dividend was paid out on September 15th to shareholders who were recorded as such on September 1st. The dividend amount totaled $0.21 per share following an ex-dividend date on August 31st. Notably, this dividend represents an annualized payout ratio of 57.14% and yields returns of approximately 3.86%.
The news surrounding Wedge Capital Management’s acquisition and Premier’s dividend announcement offer valuable insights into the financial landscape and investor sentiment within the healthcare sector. As investors continue to evaluate opportunities within this industry post-pandemic, it is crucial to consider companies like Premier that have demonstrated robust growth potential and strong financial prospects.
For more information on Premier’s performance and outlook, interested parties can refer to our latest research report on the company. This comprehensive report provides detailed analysis and valuable insights into key aspects such as financial performance, market trends, competitive positioning, and potential growth drivers for Premier, Inc.
In conclusion, Wedge Capital Management L L P NC’s significant increase in holdings of Premier, Inc. shares highlights the company’s attractiveness as an investment opportunity within the healthcare sector. Additionally, Premier’s recent dividend declaration adds to its appeal for investors seeking stable returns. As such, those interested in this industry may find it beneficial to explore Premier and its potential for long-term growth and profitability.
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Hedge Funds and Institutional Investors Show Growing Interest in Premier, Inc. Stock
Premier, Inc. (NASDAQ: PINC), a leading healthcare improvement company, has recently seen a flurry of activity from hedge funds and institutional investors. The number of shares bought and sold by these entities indicates a growing interest in the company’s stock.
One notable investor is EverSource Wealth Advisors LLC, which increased its stake in Premier by an astounding 2,204.1% in the first quarter. This move saw them acquire an additional 1,080 shares of Premier’s stock, bringing their total ownership to 1,129 shares worth $37,000. Janiczek Wealth Management LLC also made a significant investment in Premier during the second quarter, lifting its stake by 322.7% with the acquisition of 965 more shares valued at $35,000.
Captrust Financial Advisors and Amundi also bolstered their positions in Premier during the second and fourth quarters respectively. Captrust Financial Advisors raised their stake by 48.5%, while Amundi increased theirs by a whopping 397.6%. As for Mitsubishi UFJ Trust & Banking Corp, they experienced a surge of interest in Premier stock as well, resulting in a 107.5% increase in their stake.
These developments have led to hedge funds and other institutional investors now owning approximately 66.85% of Premier’s stock.
Analysts have been closely monitoring these changes and have expressed various opinions on Premier’s performance. StockNews.com downgraded Premier from a “strong-buy” rating to a “buy” rating in August this year, while UBS Group reduced their target price from $29.00 to $26.00 with a “neutral” rating for the company. Bank of America also downgraded their rating for Premier to “underperform,” lowering their target price from $31.00 to $26.00.
On the other hand, Benchmark maintained its faith in the company’s potential by reducing its price objective from $37.00 to $32.00 while still endorsing a “buy” rating. Credit Suisse Group also expressed a moderate stance by reducing their price objective from $33.00 to $25.00 and giving Premier a “neutral” rating.
With these mixed evaluations, Bloomberg reports that Premier has an average rating of “Hold” and an average price target of $29.64, reflecting the uncertainty surrounding the stock’s future performance.
Shares of PINC opened at $21.77 on September 27, 2023. The company currently has a current ratio of 0.79 and a quick ratio of 0.69, indicating its ability to meet short-term financial obligations efficiently.
Premier boasts a market capitalization of $2.59 billion with a P/E ratio of 14.81 and a beta value of 0.33, implying that the stock is less volatile than the overall market.
The company’s performance in recent quarters has been relatively steady as well. In its latest earnings report released on August 22nd, Premier reported earnings per share (EPS) of $0.68 for the quarter, surpassing analysts’ expectations by $0.02.
However, Premier’s quarterly revenue of $340.40 million fell slightly short of analysts’ estimates of $355.59 million, marking a decrease from the same period last year by .1%. Despite this slight decline in revenue, Premier managed to maintain a net margin of 13.10% and an impressive return on equity of 12.45%.
Looking ahead, research analysts predict that Premier will post earnings per share (EPS) of 2.21 for the current fiscal year.
As investors navigate this complex landscape, it remains uncertain how Premier will fare in the coming months given divergent opinions from experts regarding its future prospects and recent changes in hedge fund investments.
Nevertheless, with continued focus on improving healthcare services and a track record of solid financial performance, Premier, Inc. may still present an opportunity for investors seeking exposure to the healthcare sector.
