Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Premier, Inc. (NASDAQ:PINC - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 202,501 shares of the company's stock, valued at approximately $4,293,000. Universal Beteiligungs und Servicegesellschaft mbH owned about 0.22% of Premier at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of PINC. Brandes Investment Partners LP lifted its holdings in shares of Premier by 123.1% during the 4th quarter. Brandes Investment Partners LP now owns 842,326 shares of the company's stock valued at $17,857,000 after buying an additional 464,710 shares during the last quarter. Quantinno Capital Management LP lifted its stake in shares of Premier by 249.8% in the 4th quarter. Quantinno Capital Management LP now owns 405,241 shares of the company's stock valued at $8,591,000 after purchasing an additional 289,408 shares during the last quarter. Franklin Resources Inc. acquired a new stake in shares of Premier in the 4th quarter valued at $5,275,000. Millennium Management LLC boosted its holdings in Premier by 142.8% in 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 in the last quarter. Finally, Clark Capital Management Group Inc. acquired a new position in Premier during the fourth quarter worth $4,017,000. Hedge funds and other institutional investors own 74.41% of the company's stock.
Analyst Upgrades and Downgrades
Several research firms have weighed in on PINC. 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. Canaccord Genuity Group raised their price objective on Premier from $19.00 to $22.00 and gave the company a "hold" rating in a research note on Thursday, May 8th. Finally, Robert W. Baird boosted their target price on Premier from $19.00 to $22.00 and gave the stock a "neutral" rating in a report on Thursday, May 15th. Seven equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $22.20.
Check Out Our Latest Stock Report on PINC
Premier Stock Performance
Shares of Premier stock traded down $0.05 during trading on Thursday, reaching $23.12. The company's stock had a trading volume of 1,481,282 shares, compared to its average volume of 1,264,244. Premier, Inc. has a one year low of $17.23 and a one year high of $23.56. The firm has a market cap of $1.90 billion, a price-to-earnings ratio of -231.18 and a beta of 0.54. The business's fifty day moving average price is $21.21 and its 200-day moving average price is $20.74.
Premier Announces Dividend
The business 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. The ex-dividend date is Friday, May 30th. This represents a $0.84 annualized dividend and a dividend yield of 3.63%. Premier's payout ratio is 147.37%.
Insider Activity
In other Premier news, Director John T. Bigalke sold 1,137 shares of the company's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $23.03, for a total transaction of $26,185.11. Following the transaction, the director now owns 28,673 shares of the company's stock, valued at approximately $660,339.19. This represents a 3.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Helen M. Boudreau sold 2,000 shares of the company's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $22.88, for a total value of $45,760.00. Following the transaction, the director now directly owns 18,668 shares in the company, valued at $427,123.84. This trade represents a 9.68% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 24,119 shares of company stock valued at $516,976. Insiders own 0.96% of the company's stock.
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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