Premier, Inc. (NASDAQ:PINC) Shares Sold by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. decreased its holdings in shares of Premier, Inc. (NASDAQ:PINC) by 7.4% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 282,812 shares of the company’s stock after selling 22,681 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in Premier were worth $6,250,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. Mitsubishi UFJ Trust & Banking Corp purchased a new position in Premier during the first quarter worth about $27,000. Global Retirement Partners LLC raised its holdings in Premier by 153.3% during the fourth quarter. Global Retirement Partners LLC now owns 1,583 shares of the company’s stock worth $35,000 after purchasing an additional 958 shares in the last quarter. Hexagon Capital Partners LLC raised its holdings in Premier by 71.7% during the fourth quarter. Hexagon Capital Partners LLC now owns 1,660 shares of the company’s stock worth $37,000 after purchasing an additional 693 shares in the last quarter. Parallel Advisors LLC raised its holdings in Premier by 141.2% during the fourth quarter. Parallel Advisors LLC now owns 1,980 shares of the company’s stock worth $44,000 after purchasing an additional 1,159 shares in the last quarter. Finally, Janiczek Wealth Management LLC raised its holdings in Premier by 246.5% during the fourth quarter. Janiczek Wealth Management LLC now owns 2,533 shares of the company’s stock worth $57,000 after purchasing an additional 1,802 shares in the last quarter. Institutional investors and hedge funds own 74.41% of the company’s stock.

Insider Buying and Selling at Premier

In other Premier news, CEO Michael J. Alkire sold 17,375 shares of the business’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $20.13, for a total transaction of $349,758.75. Following the completion of the transaction, the chief executive officer now directly owns 562,698 shares of the company’s stock, valued at approximately $11,327,110.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Michael J. Alkire sold 17,375 shares of the company’s stock in a transaction that occurred on Wednesday, July 24th. The shares were 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 of the company’s stock, valued at approximately $11,327,110.74. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Michael J. Alkire sold 2,625 shares of the business’s stock in a transaction that occurred on 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 sale, the chief executive officer now owns 580,073 shares in the company, valued at $11,601,460. The disclosure for this sale can be found here. Insiders sold 139,075 shares of company stock valued at $2,702,909 in the last ninety days. Company insiders own 0.85% of the company’s stock.

Premier Stock Performance

Shares of NASDAQ PINC traded up $0.46 during midday trading on Tuesday, hitting $21.31. The company’s stock had a trading volume of 548,412 shares, compared to its average volume of 1,540,950. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.82 and a current ratio of 0.93. The firm’s fifty day moving average price is $18.96 and its 200-day moving average price is $20.38. The firm has a market cap of $2.23 billion, a P/E ratio of 33.30, a P/E/G ratio of 6.84 and a beta of 0.42. Premier, Inc. has a 1-year low of $17.95 and a 1-year high of $28.14.

Premier (NASDAQ:PINC) last posted its earnings results on Tuesday, May 7th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.07. The firm had revenue of $342.60 million during the quarter, compared to analyst estimates of $312.92 million. Premier had a net margin of 6.01% and a return on equity of 11.71%. On average, sell-side analysts forecast that Premier, Inc. will post 1.96 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

PINC has been the subject of a number of research analyst reports. Canaccord Genuity Group cut shares of Premier from a “buy” rating to a “hold” rating and dropped their target price for the company from $27.00 to $21.00 in a report on Wednesday, May 8th. Robert W. Baird dropped their price objective on shares of Premier from $25.00 to $22.00 and set a “neutral” rating for the company in a research note on Wednesday, May 8th. Canaccord Genuity Group reissued a “hold” rating and set a $21.00 price objective (down from $27.00) on shares of Premier in a research note on Wednesday, May 8th. StockNews.com raised shares of Premier from a “hold” rating to a “buy” rating in a research note on Thursday, May 9th. Finally, Piper Sandler decreased their target price on shares of Premier from $24.00 to $22.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 8th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Premier currently has a consensus rating of “Hold” and an average target price of $23.50.

Premier Company 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.