Millennium Management LLC Has $5.73 Million Holdings in Premier, Inc. (NASDAQ:PINC)

Millennium Management LLC decreased its position in shares of Premier, Inc. (NASDAQ:PINC - Free Report) by 45.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 306,967 shares of the company's stock after selling 256,527 shares during the period. Millennium Management LLC owned approximately 0.29% of Premier worth $5,731,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in PINC. Pacer Advisors Inc. increased its position in Premier by 384.3% during the 2nd quarter. Pacer Advisors Inc. now owns 6,311,089 shares of the company's stock worth $117,828,000 after buying an additional 5,007,851 shares during the period. Goldman Sachs Group Inc. increased its position in Premier by 139.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,121,702 shares of the company's stock worth $47,441,000 after buying an additional 1,235,017 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Premier by 14.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,951,043 shares of the company's stock worth $111,105,000 after purchasing an additional 773,207 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Premier by 60.4% during the 2nd quarter. American Century Companies Inc. now owns 2,051,578 shares of the company's stock worth $38,303,000 after purchasing an additional 772,392 shares in the last quarter. Finally, US Bancorp DE grew its holdings in shares of Premier by 8,726.8% during the 1st quarter. US Bancorp DE now owns 374,434 shares of the company's stock worth $8,275,000 after purchasing an additional 370,192 shares in the last quarter. Institutional investors own 74.41% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Benchmark lowered Premier from a "buy" rating to a "hold" rating in a report on Monday, August 26th. JPMorgan Chase & Co. reduced their target price on Premier from $21.00 to $19.00 and set a "neutral" rating on the stock in a report on Monday, September 9th. StockNews.com lowered Premier from a "buy" rating to a "hold" rating in a report on Thursday, September 12th. Canaccord Genuity Group reduced their target price on Premier from $20.00 to $19.00 and set a "hold" rating on the stock in a report on Wednesday, October 2nd. Finally, Robert W. Baird reduced their target price on Premier from $22.00 to $19.00 and set a "neutral" rating on the stock in a report on Wednesday, August 21st. Ten research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Premier currently has a consensus rating of "Hold" and a consensus target price of $21.81.

Premier Stock Up 1.3 %

Shares of PINC stock traded up $0.24 during mid-day trading on Friday, reaching $19.35. 476,260 shares of the stock traded hands, compared to its average volume of 1,410,878. The stock's fifty day simple moving average is $19.90 and its two-hundred day simple moving average is $19.82. Premier, Inc. has a 1-year low of $17.95 and a 1-year high of $23.01. The company has a market cap of $2.03 billion, a price-to-earnings ratio of 30.23, a price-to-earnings-growth ratio of 9.08 and a beta of 0.41.

Premier (NASDAQ:PINC - Get Free Report) last announced its quarterly earnings results on Tuesday, August 20th. The company reported $0.69 EPS for the quarter, beating analysts' consensus estimates of $0.44 by $0.25. Premier had a return on equity of 11.69% and a net margin of 8.88%. The firm had revenue of $350.30 million for the quarter, compared to analyst estimates of $308.88 million. During the same period last year, the firm posted $0.70 earnings per share. The business's revenue for the quarter was up 2.9% on a year-over-year basis. On average, equities research analysts anticipate that Premier, Inc. will post 1.04 EPS for the current fiscal year.

Premier Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 15th. Stockholders of record on Sunday, September 1st were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.34%. Premier's dividend payout ratio (DPR) is 131.25%.

Insider Transactions at Premier

In other news, CEO Michael J. Alkire sold 2,625 shares of the firm's stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $20.00, for a total transaction of $52,500.00. Following the completion of the transaction, the chief executive officer now directly owns 580,073 shares in the company, valued at $11,601,460. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Premier news, CEO Michael J. Alkire sold 17,375 shares of Premier stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $20.13, for a total value of $349,758.75. Following the completion of the sale, the chief executive officer now directly owns 562,698 shares in the company, valued at approximately $11,327,110.74. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Michael J. Alkire sold 2,625 shares of Premier stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $20.00, for a total value of $52,500.00. Following the completion of the sale, the chief executive officer now owns 580,073 shares of the company's stock, valued at approximately $11,601,460. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 186,312 shares of company stock worth $3,779,250 over the last ninety days. 0.85% of the stock is owned by insiders.

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.