Millennium Management LLC Grows Holdings in Premier, Inc. (NASDAQ:PINC)

Millennium Management LLC lifted its stake in Premier, Inc. (NASDAQ:PINC) by 142.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 402,566 shares of the company’s stock after purchasing an additional 236,787 shares during the quarter. Millennium Management LLC owned about 0.42% of Premier worth $8,534,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently modified their holdings of PINC. SRS Capital Advisors Inc. increased its holdings in shares of Premier by 157.8% in the 4th quarter. SRS Capital Advisors Inc. now owns 1,284 shares of the company’s stock worth $27,000 after purchasing an additional 786 shares in the last quarter. Keystone Financial Group Inc. purchased a new stake in Premier during the 4th quarter valued at $37,000. Smartleaf Asset Management LLC lifted its holdings 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 valued at $40,000 after buying an additional 1,427 shares during the period. Van ECK Associates Corp lifted its holdings in shares of Premier by 28.0% during the 4th quarter. Van ECK Associates Corp now owns 2,041 shares of the company’s stock valued at $43,000 after buying an additional 446 shares during the period. Finally, Aster Capital Management DIFC Ltd purchased a new position in shares of Premier in the 4th quarter worth $52,000. 74.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on PINC. Robert W. Baird upped their price objective on Premier from $19.00 to $22.00 and gave the company a “neutral” rating in a research report on Thursday, May 15th. Piper Sandler upped their price target on shares of Premier from $19.00 to $24.00 and gave the company a “neutral” rating in a research report on Wednesday, May 21st. Finally, Canaccord Genuity Group raised 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. Seven equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $22.20.

Insider Activity at Premier

In other Premier news, General Counsel David L. Klatsky sold 10,982 shares of Premier stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $22.74, for a total transaction of $249,730.68. Following the transaction, the general counsel now owns 76,093 shares of the company’s stock, valued at $1,730,354.82. The trade was a 12.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders sold 22,119 shares of company stock worth $464,974. 0.96% of the stock is owned by company insiders.

Premier Stock Performance

NASDAQ:PINC opened at $23.06 on Monday. The stock has a 50-day simple moving average of $20.48 and a two-hundred day simple moving average of $20.69. The firm has a market capitalization of $1.90 billion, a PE ratio of -230.58 and a beta of 0.54. Premier, Inc. has a 52-week low of $17.23 and a 52-week high of $23.56.

Premier Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, June 15th. Investors of record on Sunday, June 1st will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend 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 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.