Cooper Financial Group Takes $221,000 Position in Premier, Inc. (NASDAQ:PINC)

Key Points

• Cooper Financial Group has acquired a new position in Premier, Inc. (NASDAQ:PINC), purchasing 11,453 shares valued at approximately $221,000.
• Several institutional investors, including JPMorgan Chase & Co. and Alliancebernstein L.P., have also increased their holdings in Premier during the 4th quarter, indicating growing institutional interest in the company.
• Analysts have set a new average target price of $22.20 for Premier, with most analysts rating the stock as a "hold" following upward revisions from Robert W. Baird and Piper Sandler.

Cooper Financial Group purchased a new position in shares of Premier, Inc. (NASDAQ:PINC - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 11,453 shares of the company's stock, valued at approximately $221,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Northern Trust Corp boosted its holdings in Premier by 20.5% in the fourth quarter. Northern Trust Corp now owns 741,739 shares of the company's stock valued at $15,725,000 after acquiring an additional 126,217 shares in the last quarter. Two Sigma Investments LP bought a new stake in Premier in the fourth quarter valued at $892,000. GAMMA Investing LLC boosted its holdings in Premier by 1,435.4% in the first quarter. GAMMA Investing LLC now owns 22,924 shares of the company's stock valued at $442,000 after acquiring an additional 21,431 shares in the last quarter. Mariner LLC bought a new stake in Premier in the fourth quarter valued at $282,000. Finally, Russell Investments Group Ltd. boosted its holdings in Premier by 40.4% in the fourth quarter. Russell Investments Group Ltd. now owns 4,371 shares of the company's stock valued at $93,000 after acquiring an additional 1,257 shares in the last quarter. Institutional investors own 74.41% of the company's stock.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Robert W. Baird lifted their price target on shares of Premier from $19.00 to $22.00 and gave the company a "neutral" rating in a report on Thursday, May 15th. Canaccord Genuity Group boosted their target price on shares of Premier from $19.00 to $22.00 and gave the company a "hold" rating in a report on Thursday, May 8th. Finally, Piper Sandler boosted their target price on shares of Premier from $19.00 to $24.00 and gave the company a "neutral" rating in a report on Wednesday, May 21st. Seven research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $22.20.

Premier Stock Performance

Shares of PINC traded up $0.10 during trading hours on Thursday, hitting $24.63. The company had a trading volume of 2,201,500 shares, compared to its average volume of 1,588,056. The firm has a fifty day moving average price of $21.96 and a 200-day moving average price of $20.76. The stock has a market capitalization of $2.03 billion, a price-to-earnings ratio of 43.21 and a beta of 0.56. Premier, Inc. has a 52-week low of $17.23 and a 52-week high of $24.74.

Insider Transactions at Premier

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

Premier 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.