Nuveen LLC Takes $1.07 Million Position in Premier, Inc. $PINC

Nuveen LLC bought a new position in shares of Premier, Inc. (NASDAQ:PINC - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 55,638 shares of the company's stock, valued at approximately $1,073,000. Nuveen LLC owned approximately 0.06% of Premier at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Quantinno Capital Management LP boosted its position in shares of Premier by 249.8% during the 4th quarter. Quantinno Capital Management LP now owns 405,241 shares of the company's stock worth $8,591,000 after purchasing an additional 289,408 shares in the last quarter. Millennium Management LLC lifted its stake in shares of Premier by 142.8% in the fourth quarter. Millennium Management LLC now owns 402,566 shares of the company's stock valued at $8,534,000 after purchasing an additional 236,787 shares during the period. New Age Alpha Advisors LLC boosted its holdings in Premier by 5,893.3% during the first quarter. New Age Alpha Advisors LLC now owns 231,523 shares of the company's stock worth $4,464,000 after buying an additional 227,660 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Premier during the fourth quarter worth about $4,293,000. Finally, Clark Capital Management Group Inc. purchased a new position in Premier in the fourth quarter valued at about $4,017,000. 74.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Premier

In related news, General Counsel David L. Klatsky sold 1,319 shares of the company's stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $25.85, for a total transaction of $34,096.15. Following the completion of the transaction, the general counsel owned 94,331 shares of the company's stock, valued at approximately $2,438,456.35. This represents a 1.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.96% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Leerink Partners upped their price target on Premier from $24.00 to $26.00 and gave the stock a "market perform" rating in a report on Tuesday, August 19th. Piper Sandler upped their target price on Premier from $24.00 to $28.00 and gave the company a "neutral" rating in a report on Monday, August 25th. Robert W. Baird raised their price target on Premier from $22.00 to $27.00 and gave the company a "neutral" rating in a research report on Wednesday, August 20th. Canaccord Genuity Group boosted their price objective on shares of Premier from $22.00 to $25.00 and gave the stock a "hold" rating in a research report on Wednesday, August 20th. Finally, Bank of America increased their price objective on shares of Premier from $19.00 to $21.00 and gave the company an "underperform" rating in a research note on Tuesday, August 19th. Seven investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Reduce" and an average target price of $24.50.

Premier Stock Up 2.7%

Shares of NASDAQ:PINC traded up $0.69 during trading on Thursday, reaching $26.28. The stock had a trading volume of 1,128,188 shares, compared to its average volume of 1,611,148. Premier, Inc. has a fifty-two week low of $17.23 and a fifty-two week high of $27.26. The stock has a market cap of $2.17 billion, a P/E ratio of 119.46 and a beta of 0.61. The business has a fifty day moving average price of $22.91 and a 200-day moving average price of $21.31.

Premier Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 1st will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Friday, August 29th. Premier's dividend payout ratio (DPR) is presently 381.82%.

About Premier

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.