Millennium Management LLC Purchases 236,787 Shares of Premier, Inc. (NASDAQ:PINC)

Millennium Management LLC boosted its position in Premier, Inc. (NASDAQ:PINC - Free Report) by 142.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 402,566 shares of the company's stock after purchasing an additional 236,787 shares during the period. Millennium Management LLC owned approximately 0.42% of Premier worth $8,534,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. SRS Capital Advisors Inc. boosted its stake in shares of Premier by 157.8% during the 4th quarter. SRS Capital Advisors Inc. now owns 1,284 shares of the company's stock worth $27,000 after acquiring an additional 786 shares in the last quarter. Keystone Financial Group Inc. purchased a new stake in shares of Premier during the fourth quarter worth $37,000. Smartleaf Asset Management LLC raised its stake in shares of Premier by 297.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,906 shares of the company's stock worth $40,000 after purchasing an additional 1,427 shares in the last quarter. Van ECK Associates Corp raised its position in Premier by 28.0% during the fourth quarter. Van ECK Associates Corp now owns 2,041 shares of the company's stock valued at $43,000 after acquiring an additional 446 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd acquired a new stake in shares of Premier in the 4th quarter valued at $52,000. Institutional investors and hedge funds own 74.41% of the company's stock.

Insider Transactions at Premier

In related news, General Counsel David L. Klatsky sold 10,000 shares of the firm's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $19.53, for a total value of $195,300.00. Following the completion of the transaction, the general counsel now owns 90,597 shares of the company's stock, valued at approximately $1,769,359.41. This trade represents a 9.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 22,119 shares of company stock valued at $464,974 over the last quarter. Corporate insiders own 0.96% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on PINC shares. Piper Sandler increased their price objective on Premier from $19.00 to $24.00 and gave the company a "neutral" rating in a research report on Wednesday, May 21st. Robert W. Baird upped their price target on Premier from $19.00 to $22.00 and gave the company a "neutral" rating in a research report on Thursday, May 15th. Finally, Canaccord Genuity Group raised their price target on Premier from $19.00 to $22.00 and gave the company a "hold" rating in a report on Thursday, May 8th. Seven investment analysts have rated the stock with a hold rating, According to data from MarketBeat, Premier currently has an average rating of "Hold" and an average target price of $22.20.

Premier Trading Up 1.4%

Shares of PINC stock traded up $0.32 on Friday, reaching $23.08. The company had a trading volume of 191,528 shares, compared to its average volume of 1,258,015. The company has a 50-day moving average of $20.81 and a 200-day moving average of $20.72. Premier, Inc. has a 12 month low of $17.23 and a 12 month high of $23.56. The stock has a market cap of $1.90 billion, a PE ratio of -230.51 and a beta of 0.54.

Premier Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, June 15th. Stockholders of record on Sunday, June 1st will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 3.64%. The ex-dividend date is Friday, May 30th. Premier's dividend payout ratio (DPR) is presently 147.37%.

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.