Premier, Inc. (NASDAQ:PINC) Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC lowered its holdings in Premier, Inc. (NASDAQ:PINC - Free Report) by 4.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,658,011 shares of the company's stock after selling 81,462 shares during the quarter. Geode Capital Management LLC owned 1.73% of Premier worth $35,160,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. State Street Corp grew its holdings in shares of Premier by 0.8% in the third quarter. State Street Corp now owns 3,973,582 shares of the company's stock valued at $79,472,000 after purchasing an additional 32,193 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Premier by 4.2% in the fourth quarter. American Century Companies Inc. now owns 2,598,731 shares of the company's stock valued at $55,093,000 after acquiring an additional 104,452 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Premier by 4.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,813,408 shares of the company's stock valued at $38,444,000 after purchasing an additional 71,624 shares in the last quarter. Brandes Investment Partners LP lifted its stake in Premier by 123.1% in the fourth quarter. Brandes Investment Partners LP now owns 842,326 shares of the company's stock worth $17,857,000 after acquiring an additional 464,710 shares during the last quarter. Finally, Empowered Funds LLC grew its holdings in Premier by 15.9% during the 4th quarter. Empowered Funds LLC now owns 495,985 shares of the company's stock worth $10,515,000 after acquiring an additional 67,909 shares in the last quarter. 74.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Piper Sandler decreased their price objective on shares of Premier from $21.00 to $19.00 and set a "neutral" rating for the company in a research report on Wednesday, February 5th. Canaccord Genuity Group decreased their price target on Premier from $21.00 to $19.00 and set a "hold" rating for the company in a report on Wednesday, February 5th. Finally, Robert W. Baird dropped their price objective on Premier from $20.00 to $19.00 and set a "neutral" rating on the stock in a report on Wednesday, February 5th. Eight equities research analysts have rated the stock with a hold rating, According to MarketBeat, Premier has an average rating of "Hold" and a consensus price target of $20.17.

Premier Stock Up 1.3 %

PINC traded up $0.25 on Tuesday, reaching $19.57. The company had a trading volume of 1,088,042 shares, compared to its average volume of 1,265,782. Premier, Inc. has a 1 year low of $17.23 and a 1 year high of $23.56. The stock has a market capitalization of $1.79 billion, a PE ratio of -195.68 and a beta of 0.51. The stock has a 50-day moving average price of $18.75 and a 200-day moving average price of $20.41.

Premier Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Saturday, March 15th. Investors of record on Saturday, March 1st were given a $0.21 dividend. The ex-dividend date was Friday, February 28th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.29%. Premier's dividend payout ratio (DPR) is presently -840.00%.

Insider Activity at Premier

In other news, General Counsel David L. Klatsky sold 10,000 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $19.53, for a total value of $195,300.00. Following the completion of the sale, the general counsel now directly owns 90,597 shares of the company's stock, valued at approximately $1,769,359.41. This represents a 9.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.96% of the company's stock.

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.