Premier, Inc. (NASDAQ:PINC) Shares Acquired by LSV Asset Management

Key Points

• LSV Asset Management increased its stake in Premier, Inc. (NASDAQ:PINC) by 9.2%, owning approximately 1.53% of the company, valued at about $26.85 million.
• A notable transaction involved Director Helen M. Boudreau, who sold 2,000 shares for a total of $45,760, resulting in a 9.68% decrease in her ownership stake.
• Analysts have recently raised their target price for PINC shares, with a consensus rating of "Hold" and an average price target of $22.20.

LSV Asset Management grew its position in Premier, Inc. (NASDAQ:PINC - Free Report) by 9.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,392,700 shares of the company's stock after purchasing an additional 117,398 shares during the period. LSV Asset Management owned approximately 1.53% of Premier worth $26,851,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of PINC. Aster Capital Management DIFC Ltd purchased a new stake in shares of Premier in the fourth quarter worth about $52,000. Russell Investments Group Ltd. boosted its stake in shares of Premier by 40.4% in the fourth quarter. Russell Investments Group Ltd. now owns 4,371 shares of the company's stock worth $93,000 after buying an additional 1,257 shares during the last quarter. Sterling Capital Management LLC boosted its stake in shares of Premier by 44.5% in the fourth quarter. Sterling Capital Management LLC now owns 5,737 shares of the company's stock worth $122,000 after buying an additional 1,767 shares during the last quarter. Vestcor Inc purchased a new stake in shares of Premier in the first quarter worth about $125,000. Finally, Versant Capital Management Inc boosted its stake in shares of Premier by 97.6% in the first quarter. Versant Capital Management Inc now owns 7,719 shares of the company's stock worth $149,000 after buying an additional 3,813 shares during the last quarter. 74.41% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Premier news, Director Helen M. Boudreau sold 2,000 shares of the 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 transaction, the director owned 18,668 shares in the company, valued at approximately $427,123.84. This represents a 9.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John T. Bigalke sold 1,137 shares of the stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $23.03, for a total value of $26,185.11. Following the transaction, 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. Over the last 90 days, insiders have sold 14,119 shares of company stock worth $321,676. 0.96% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently commented on PINC shares. Robert W. Baird upped their target price on Premier from $19.00 to $22.00 and gave the stock a "neutral" rating in a research note on Thursday, May 15th. Canaccord Genuity Group upped their target price on Premier from $19.00 to $22.00 and gave the stock a "hold" rating in a research note on Thursday, May 8th. Finally, Piper Sandler upped their target price on Premier from $19.00 to $24.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 21st. 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.

Premier Trading Down 1.0%

Shares of PINC stock opened at $21.27 on Monday. The company has a market capitalization of $1.75 billion, a P/E ratio of 37.32 and a beta of 0.56. The business's 50 day moving average is $21.98 and its two-hundred day moving average is $20.70. Premier, Inc. has a 12-month low of $17.23 and a 12-month high of $23.56.

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.

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