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Clark Estates Inc. NY Trims Holdings in Premier, Inc. (NASDAQ:PINC)

Premier logo with Medical background

Key Points

  • Clark Estates Inc. NY reduced its position in Premier, Inc. (NASDAQ:PINC) by 27.6% during the first quarter, now owning 87,234 shares valued at approximately $1.68 million.
  • Several institutional investors have shown interest in Premier, with notable increases in holdings, including a 40.4% boost from Russell Investments Group Ltd. and new positions from Aster Capital Management and others.
  • Wall Street analysts have raised their price targets for Premier, with recent updates setting targets between $22.00 and $24.00, and an average rating of "Hold" with a consensus target of $22.20.
  • Interested in Premier? Here are five stocks we like better.

Clark Estates Inc. NY decreased its holdings in Premier, Inc. (NASDAQ:PINC - Free Report) by 27.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 87,234 shares of the company's stock after selling 33,309 shares during the period. Clark Estates Inc. NY owned 0.10% of Premier worth $1,682,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Raymond James Financial Inc. purchased a new stake in shares of Premier in the fourth quarter worth about $286,000. Corient Private Wealth LLC purchased a new stake in shares of Premier in the fourth quarter worth about $227,000. Mitsubishi UFJ Trust & Banking Corp purchased a new stake in Premier during the fourth quarter valued at approximately $96,000. JPMorgan Chase & Co. raised its position in Premier by 2.4% during the fourth quarter. JPMorgan Chase & Co. now owns 489,428 shares of the company's stock valued at $10,376,000 after purchasing an additional 11,599 shares during the period. Finally, New Age Alpha Advisors LLC purchased a new stake in Premier during the fourth quarter valued at approximately $82,000. Institutional investors own 74.41% of the company's stock.

Premier Stock Down 1.0%

Shares of Premier stock traded down $0.21 during trading on Friday, reaching $21.27. The company's stock had a trading volume of 1,610,929 shares, compared to its average volume of 1,249,160. The company has a market cap of $1.75 billion, a price-to-earnings ratio of 37.32 and a beta of 0.56. Premier, Inc. has a 1-year low of $17.23 and a 1-year high of $23.56. The company has a 50-day simple moving average of $21.98 and a two-hundred day simple moving average of $20.72.

Analyst Ratings Changes

PINC has been the topic of several recent analyst reports. Canaccord Genuity Group increased their price target on Premier from $19.00 to $22.00 and gave the stock a "hold" rating in a report on Thursday, May 8th. Piper Sandler increased their price objective on Premier from $19.00 to $24.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 21st. Finally, Robert W. Baird increased their target price on Premier from $19.00 to $22.00 and gave the company a "neutral" rating in a research report on Thursday, May 15th. Seven equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $22.20.

Read Our Latest Stock Report on PINC

Insider Transactions at Premier

In other news, Director Helen M. Boudreau sold 2,000 shares of the firm's stock in a transaction on Friday, May 30th. The stock was sold at an average price of $22.88, for a total value of $45,760.00. Following the completion of the sale, the director owned 18,668 shares of the company's stock, valued at $427,123.84. This trade represents a 9.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John T. Bigalke sold 1,137 shares of the firm's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $23.03, for a total value 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 disclosure for this sale can be found here. Insiders sold 14,119 shares of company stock valued at $321,676 in the last quarter. 0.96% of the stock is currently owned by corporate insiders.

Premier Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Premier (NASDAQ:PINC)

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