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

Occudo Quantitative Strategies LP purchased a new position in shares of Premier, Inc. (NASDAQ:PINC) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 10,825 shares of the company’s stock, valued at approximately $229,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brandes Investment Partners LP increased its holdings in Premier by 123.1% during the 4th quarter. Brandes Investment Partners LP now owns 842,326 shares of the company’s stock worth $17,857,000 after purchasing an additional 464,710 shares during the period. Franklin Resources Inc. purchased a new position in Premier during the 4th quarter worth $5,275,000. Assenagon Asset Management S.A. increased its holdings in Premier by 109.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 468,524 shares of the company’s stock worth $9,933,000 after purchasing an additional 245,239 shares during the period. Millennium Management LLC increased its holdings in Premier by 142.8% during the 4th 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. Finally, Clark Capital Management Group Inc. purchased a new position in Premier during the 4th quarter worth $4,017,000. 74.41% of the stock is owned by institutional investors.

Insider Activity

In related news, General Counsel David L. Klatsky sold 10,000 shares of the business’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $19.53, for a total transaction of $195,300.00. Following the transaction, the general counsel now directly owns 90,597 shares in the company, valued at $1,769,359.41. The trade was a 9.94% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last three months, insiders have sold 22,119 shares of company stock worth $464,974. 0.96% of the stock is currently owned by company insiders.

Premier Trading Up 1.4%

Shares of NASDAQ:PINC opened at $23.12 on Friday. Premier, Inc. has a 12-month low of $17.23 and a 12-month high of $23.56. The business’s fifty day simple moving average is $19.99 and its 200-day simple moving average is $20.65. The company has a market capitalization of $1.90 billion, a PE ratio of -231.18 and a beta of 0.54.

Premier Announces Dividend

The business also recently declared 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 of this dividend is Friday, May 30th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.63%. Premier’s dividend payout ratio is presently 147.37%.

Analysts Set New Price Targets

Several research firms have commented on PINC. Piper Sandler reduced their price objective on Premier from $21.00 to $19.00 and set a “neutral” rating on the stock in a report on Wednesday, February 5th. Robert W. Baird raised their price objective on Premier from $19.00 to $22.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, Canaccord Genuity Group raised their price objective on Premier from $19.00 to $22.00 and gave the stock a “hold” rating in a report on Thursday, May 8th. Seven analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $21.20.

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.