Premier, Inc. (NASDAQ:PINC) Shares Sold by Pacer Advisors Inc.

Key Points

• Pacer Advisors Inc. significantly reduced its stake in Premier, Inc., selling 3,781,560 shares and lowering its ownership by 70.6% in the first quarter.
• Several hedge funds, including Alps Advisors Inc. and Bridgeway Capital Management LLC, have recently increased their holdings in Premier, Inc., indicating a mixed sentiment among institutional investors.
• Wall Street analysts have raised their price targets for Premier, with a consensus target of $22.20, and the stock currently holds an average rating of "Hold."

Pacer Advisors Inc. cut its stake in Premier, Inc. (NASDAQ:PINC - Free Report) by 70.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,573,660 shares of the company's stock after selling 3,781,560 shares during the period. Pacer Advisors Inc. owned about 1.72% of Premier worth $30,340,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Aster Capital Management DIFC Ltd bought a new position in shares of Premier in the fourth quarter worth about $52,000. New Age Alpha Advisors LLC bought a new position in shares of Premier in the fourth quarter worth about $82,000. Russell Investments Group Ltd. grew its holdings 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 purchasing an additional 1,257 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp purchased a new position in Premier during the 4th quarter worth $96,000. Finally, Sterling Capital Management LLC increased its holdings in Premier by 44.5% during the 4th quarter. Sterling Capital Management LLC now owns 5,737 shares of the company's stock worth $122,000 after purchasing an additional 1,767 shares during the period. 74.41% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, General Counsel David L. Klatsky sold 10,982 shares of the business's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $22.74, for a total transaction of $249,730.68. Following the transaction, the general counsel directly owned 76,093 shares in the company, valued at $1,730,354.82. The trade was a 12.61% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director John T. Bigalke sold 1,137 shares of the business'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 transaction, the director owned 28,673 shares in the company, valued at approximately $660,339.19. This trade represents a 3.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 14,119 shares of company stock worth $321,676 in the last ninety days. 0.96% of the stock is owned by insiders.

Premier Stock Performance

PINC stock traded down $0.05 during trading on Friday, reaching $21.17. 962,276 shares of the company traded hands, compared to its average volume of 1,402,180. Premier, Inc. has a 12 month low of $17.23 and a 12 month high of $23.56. The business has a 50 day simple moving average of $22.16 and a 200 day simple moving average of $20.71. The company has a market capitalization of $1.74 billion, a price-to-earnings ratio of 37.14 and a beta of 0.56.

Wall Street Analyst Weigh In

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

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.