Public Sector Pension Investment Board Raises Position in Premier, Inc. (NASDAQ:PINC)

Public Sector Pension Investment Board boosted its stake in Premier, Inc. (NASDAQ:PINC) by 49.3% during the first quarter, HoldingsChannel reports. The institutional investor owned 357,644 shares of the company’s stock after buying an additional 118,146 shares during the quarter. Public Sector Pension Investment Board’s holdings in Premier were worth $6,895,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. lifted its stake in Premier by 4.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,897,424 shares of the company’s stock valued at $36,582,000 after buying an additional 84,016 shares in the last quarter. LSV Asset Management lifted its stake in Premier by 9.2% in the 1st quarter. LSV Asset Management now owns 1,392,700 shares of the company’s stock valued at $26,851,000 after buying an additional 117,398 shares in the last quarter. Alps Advisors Inc. lifted its stake in Premier by 7.8% in the 1st quarter. Alps Advisors Inc. now owns 921,163 shares of the company’s stock valued at $17,760,000 after buying an additional 66,391 shares in the last quarter. Bridgeway Capital Management LLC lifted its stake in Premier by 3.0% in the 4th quarter. Bridgeway Capital Management LLC now owns 762,337 shares of the company’s stock valued at $16,162,000 after buying an additional 21,861 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in Premier by 5.7% in the 1st quarter. Invesco Ltd. now owns 760,939 shares of the company’s stock valued at $14,671,000 after buying an additional 41,342 shares in the last quarter. 74.41% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Piper Sandler raised their price target on shares of Premier from $19.00 to $24.00 and gave the company a “neutral” rating in a research note on Wednesday, May 21st. Canaccord Genuity Group raised their target price on shares of Premier from $19.00 to $22.00 and gave the stock a “hold” rating in a research note on Thursday, May 8th. Finally, Robert W. Baird raised their target price on shares of Premier from $19.00 to $22.00 and gave the stock a “neutral” rating in a research note on Thursday, May 15th. Seven investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $22.20.

Premier Price Performance

PINC opened at $24.95 on Friday. The company’s 50 day simple moving average is $22.03 and its two-hundred day simple moving average is $20.78. The firm has a market capitalization of $2.05 billion, a price-to-earnings ratio of 43.77 and a beta of 0.56. Premier, Inc. has a 1-year low of $17.23 and a 1-year high of $25.27.

Insider Buying and Selling

In other news, Director John T. Bigalke sold 1,137 shares of the firm’s stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $23.03, for a total transaction of $26,185.11. Following the completion of the sale, the director owned 28,673 shares in the company, valued at $660,339.19. This trade represents a 3.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Helen M. Boudreau sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $22.88, for a total transaction of $45,760.00. Following the sale, the director owned 18,668 shares of the company’s stock, valued at $427,123.84. This represents a 9.68% decrease in their position. The disclosure for this sale can be found here. 0.96% of the stock is owned by company insiders.

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.