44,451 Shares in Premier, Inc. (NASDAQ:PINC) Bought by Jefferies Financial Group Inc.

Key Points

• Jefferies Financial Group Inc. has purchased 44,451 shares of Premier, Inc. (NASDAQ:PINC), valued at approximately $857,000, as per their recent SEC filing.
• Institutional investors now own 74.41% of Premier's stock, highlighting strong institutional interest, with various firms, including Invesco and Allianz, increasing their stakes.
• Shares of Premier have seen a trading increase of 1.8%, closing at $22.11, with a market cap of $1.82 billion and analysts maintaining a consensus rating of "Hold."

Jefferies Financial Group Inc. purchased a new position in Premier, Inc. (NASDAQ:PINC - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 44,451 shares of the company's stock, valued at approximately $857,000.

Several other hedge funds have also added to or reduced their stakes in the stock. Russell Investments Group Ltd. lifted its stake in Premier by 40.4% in the 4th quarter. Russell Investments Group Ltd. now owns 4,371 shares of the company's stock valued at $93,000 after buying an additional 1,257 shares in the last quarter. Sterling Capital Management LLC raised its holdings in shares of Premier by 44.5% during the fourth quarter. Sterling Capital Management LLC now owns 5,737 shares of the company's stock valued at $122,000 after acquiring an additional 1,767 shares during the last quarter. Alliancebernstein L.P. lifted its position in shares of Premier by 3.0% in the fourth quarter. Alliancebernstein L.P. now owns 61,575 shares of the company's stock valued at $1,305,000 after acquiring an additional 1,781 shares in the last quarter. Vise Technologies Inc. raised its stake in Premier by 20.9% in the 4th quarter. Vise Technologies Inc. now owns 13,238 shares of the company's stock valued at $281,000 after purchasing an additional 2,286 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd purchased a new position in Premier in the 4th quarter valued at $52,000. 74.41% of the stock is owned by institutional investors.

Premier Trading Up 1.5%

PINC stock traded up $0.33 during midday trading on Thursday, hitting $22.44. 1,821,925 shares of the company's stock were exchanged, compared to its average volume of 1,319,945. Premier, Inc. has a 1-year low of $17.23 and a 1-year high of $23.56. The business has a 50-day simple moving average of $21.91 and a two-hundred day simple moving average of $20.71. The stock has a market capitalization of $1.85 billion, a PE ratio of 13.82 and a beta of 0.56.

Insider Activity

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Canaccord Genuity Group raised their price target 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. Robert W. Baird boosted their target price on Premier from $19.00 to $22.00 and gave the stock a "neutral" rating in a report on Thursday, May 15th. Finally, Piper Sandler upped their price target on Premier from $19.00 to $24.00 and gave the company a "neutral" rating in a research report on Wednesday, May 21st. Seven equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $22.20.

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.