Millennium Management LLC boosted its holdings in Premier, Inc. (NASDAQ:PINC - Free Report) by 142.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 402,566 shares of the company's stock after buying an additional 236,787 shares during the quarter. Millennium Management LLC owned 0.42% of Premier worth $8,534,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of the stock. American Century Companies Inc. boosted its stake in shares of Premier by 4.2% during the 4th quarter. American Century Companies Inc. now owns 2,598,731 shares of the company's stock valued at $55,093,000 after buying an additional 104,452 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Premier by 4.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,813,408 shares of the company's stock worth $38,444,000 after acquiring an additional 71,624 shares in the last quarter. Brandes Investment Partners LP boosted its position in Premier by 123.1% during the fourth quarter. Brandes Investment Partners LP now owns 842,326 shares of the company's stock valued at $17,857,000 after purchasing an additional 464,710 shares during the last quarter. Bridgeway Capital Management LLC grew its stake in Premier by 3.0% in the fourth quarter. Bridgeway Capital Management LLC now owns 762,337 shares of the company's stock valued at $16,162,000 after purchasing an additional 21,861 shares in the last quarter. Finally, Northern Trust Corp grew its stake in Premier by 20.5% in the fourth quarter. Northern Trust Corp now owns 741,739 shares of the company's stock valued at $15,725,000 after purchasing an additional 126,217 shares in the last quarter. Institutional investors own 74.41% of the company's stock.
Analysts Set New Price Targets
PINC has been the subject of several recent research reports. Robert W. Baird boosted their target price on shares of Premier from $19.00 to $22.00 and gave the stock a "neutral" rating in a research report on Thursday, May 15th. Canaccord Genuity Group upped their price objective on shares of Premier from $19.00 to $22.00 and gave the stock a "hold" rating in a report on Thursday, May 8th. Finally, Piper Sandler raised their target price on Premier from $19.00 to $24.00 and gave the company a "neutral" rating in a report on Wednesday, May 21st. Seven investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $22.20.
Read Our Latest Report on Premier
Insider Transactions at Premier
In other news, General Counsel David L. Klatsky sold 10,982 shares of the business's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $22.74, for a total transaction of $249,730.68. Following the completion of the transaction, the general counsel now directly owns 76,093 shares in the company, valued at approximately $1,730,354.82. The trade was a 12.61% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders sold 22,119 shares of company stock worth $464,974. 0.96% of the stock is currently owned by company insiders.
Premier Stock Performance
NASDAQ:PINC traded down $0.14 on Wednesday, hitting $22.89. 1,857,168 shares of the stock were exchanged, compared to its average volume of 1,252,115. Premier, Inc. has a 52 week low of $17.23 and a 52 week high of $23.56. The stock has a market capitalization of $1.88 billion, a price-to-earnings ratio of -228.88 and a beta of 0.54. The company's 50-day moving average price is $20.65 and its 200 day moving average price is $20.71.
Premier Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Sunday, June 15th. Stockholders of record on Sunday, June 1st will be given a dividend of $0.21 per share. The ex-dividend date is Friday, May 30th. This represents a $0.84 annualized dividend and a dividend yield of 3.67%. Premier's payout ratio is currently 147.37%.
About Premier
(
Free Report)
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.
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