ExodusPoint Capital Management LP Increases Holdings in Premier, Inc. (NASDAQ:PINC)

ExodusPoint Capital Management LP boosted its position in shares of Premier, Inc. (NASDAQ:PINC) by 408.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 169,458 shares of the company’s stock after purchasing an additional 136,129 shares during the quarter. ExodusPoint Capital Management LP owned about 0.18% of Premier worth $3,593,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Nordea Investment Management AB raised its holdings in shares of Premier by 21.0% in the fourth quarter. Nordea Investment Management AB now owns 256,492 shares of the company’s stock valued at $5,465,000 after acquiring an additional 44,480 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Premier during the 4th quarter valued at about $386,000. Steward Partners Investment Advisory LLC purchased a new stake in shares of Premier in the 4th quarter worth approximately $554,000. KBC Group NV boosted its stake in shares of Premier by 38.1% during the fourth quarter. KBC Group NV now owns 5,589 shares of the company’s stock valued at $118,000 after purchasing an additional 1,542 shares in the last quarter. Finally, Jane Street Group LLC increased its holdings in Premier by 70.2% during the third quarter. Jane Street Group LLC now owns 143,803 shares of the company’s stock valued at $2,876,000 after buying an additional 59,295 shares during the period. 74.41% of the stock is owned by institutional investors.

Premier Stock Performance

Shares of PINC stock opened at $19.44 on Monday. Premier, Inc. has a fifty-two week low of $17.23 and a fifty-two week high of $23.56. The firm has a market capitalization of $1.78 billion, a price-to-earnings ratio of -194.38 and a beta of 0.39. The stock’s 50-day simple moving average is $19.05 and its 200-day simple moving average is $20.45.

Premier Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.84 dividend on an annualized basis and a yield of 4.32%. Premier’s payout ratio is -840.00%.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In related news, General Counsel David L. Klatsky sold 10,000 shares of the company’s stock in a transaction 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 transaction, the general counsel now directly owns 90,597 shares of the company’s stock, valued at $1,769,359.41. This represents a 9.94 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.96% of the company’s stock.

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.