10,825 Shares in Premier, Inc. (NASDAQ:PINC) Bought by Occudo Quantitative Strategies LP

Occudo Quantitative Strategies LP bought a new stake in Premier, Inc. (NASDAQ:PINC - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 10,825 shares of the company's stock, valued at approximately $229,000.

A number of other large investors also recently made changes to their positions in PINC. Millennium Management LLC increased its holdings in shares of Premier by 142.8% during the fourth quarter. Millennium Management LLC now owns 402,566 shares of the company's stock worth $8,534,000 after purchasing an additional 236,787 shares during the period. Lazard Asset Management LLC grew its position in Premier by 41.9% during the fourth quarter. Lazard Asset Management LLC now owns 108,365 shares of the company's stock worth $2,297,000 after buying an additional 31,982 shares in the last quarter. Ethic Inc. acquired a new stake in Premier during the fourth quarter worth approximately $249,000. Clark Capital Management Group Inc. bought a new position in Premier during the 4th quarter worth $4,017,000. Finally, Deutsche Bank AG raised its holdings in Premier by 238.3% in the 4th quarter. Deutsche Bank AG now owns 199,280 shares of the company's stock valued at $4,225,000 after acquiring an additional 140,367 shares in the last quarter. Institutional investors own 74.41% of the company's stock.

Analysts Set New Price Targets

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

Premier Price Performance

Shares of PINC stock traded down $0.04 on Wednesday, hitting $23.06. 1,305,686 shares of the company's stock were exchanged, compared to its average volume of 1,246,635. Premier, Inc. has a 12 month low of $17.23 and a 12 month high of $23.56. The company has a 50 day moving average of $20.19 and a 200 day moving average of $20.69. The stock has a market cap of $1.90 billion, a P/E ratio of -230.58 and a beta of 0.54.

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 issued a $0.21 dividend. The ex-dividend date is Friday, May 30th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.64%. Premier's dividend payout ratio (DPR) is currently 147.37%.

Insider Activity

In related news, General Counsel David L. Klatsky sold 10,982 shares of the stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $22.74, for a total value of $249,730.68. Following the completion of the transaction, the general counsel now owns 76,093 shares of the company's stock, valued at $1,730,354.82. This represents a 12.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last three months, insiders have sold 22,119 shares of company stock worth $464,974. Corporate insiders own 0.96% of the company's stock.

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.