Premier, Inc. (NASDAQ:PINC) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. lessened its stake in Premier, Inc. (NASDAQ:PINC - Free Report) by 13.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 468,825 shares of the company's stock after selling 72,208 shares during the period. Victory Capital Management Inc. owned about 0.51% of Premier worth $9,039,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Alps Advisors Inc. boosted its holdings in Premier by 7.8% in the first quarter. Alps Advisors Inc. now owns 921,163 shares of the company's stock worth $17,760,000 after purchasing an additional 66,391 shares during the period. Crossmark Global Holdings Inc. boosted its holdings in Premier by 88.1% in the first quarter. Crossmark Global Holdings Inc. now owns 170,723 shares of the company's stock worth $3,292,000 after purchasing an additional 79,971 shares during the period. Envestnet Asset Management Inc. acquired a new position in Premier in the first quarter worth $914,000. Teacher Retirement System of Texas boosted its holdings in Premier by 137.3% in the first quarter. Teacher Retirement System of Texas now owns 28,570 shares of the company's stock worth $551,000 after purchasing an additional 16,531 shares during the period. Finally, Robeco Institutional Asset Management B.V. boosted its holdings in Premier by 26.8% in the first quarter. Robeco Institutional Asset Management B.V. now owns 403,820 shares of the company's stock worth $7,786,000 after purchasing an additional 85,234 shares during the period. Institutional investors own 74.41% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have commented on PINC shares. Robert W. Baird lifted their price objective on shares of Premier from $19.00 to $22.00 and gave the stock a "neutral" rating in a report on Thursday, May 15th. Canaccord Genuity Group lifted their price objective on shares of Premier from $19.00 to $22.00 and gave the stock a "hold" rating in a report on Thursday, May 8th. Finally, Piper Sandler boosted their price target 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, According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $22.20.

Insider Activity

In related news, General Counsel David L. Klatsky sold 10,982 shares of the company's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $22.74, for a total value of $249,730.68. Following the completion of the sale, the general counsel owned 76,093 shares of the company's stock, valued at $1,730,354.82. This represents a 12.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Helen M. Boudreau sold 2,000 shares of the company's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $22.88, for a total transaction of $45,760.00. Following the completion of 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. Over the last quarter, insiders sold 14,119 shares of company stock valued at $321,676. 0.96% of the stock is currently owned by company insiders.

Premier Stock Performance

Shares of PINC traded up $0.01 during midday trading on Monday, hitting $21.19. 80,296 shares of the stock traded hands, compared to its average volume of 1,569,875. Premier, Inc. has a 1-year low of $17.23 and a 1-year high of $23.56. The firm has a market capitalization of $1.74 billion, a PE ratio of 37.14 and a beta of 0.56. The business's 50 day moving average price is $22.16 and its two-hundred day moving average price is $20.71.

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.