XTX Topco Ltd Has $373,000 Stock Position in Premier, Inc. (NASDAQ:PINC)

Key Points

• XTX Topco Ltd has significantly reduced its stake in Premier, Inc. by 61.1%, holding 19,332 shares valued at $373,000 after selling 30,365 shares during the first quarter.
• Several hedge funds have increased their stakes in Premier, with Russell Investments Group raising its position by 40.4% in the fourth quarter, indicating growing institutional interest in the company.
• Wall Street analysts have adjusted their target prices for Premier shares, with estimates ranging from $22.00 to $24.00, and a consensus rating of "Hold."

XTX Topco Ltd trimmed its holdings in Premier, Inc. (NASDAQ:PINC - Free Report) by 61.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,332 shares of the company's stock after selling 30,365 shares during the quarter. XTX Topco Ltd's holdings in Premier were worth $373,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of PINC. Russell Investments Group Ltd. lifted its position in 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 period. Sterling Capital Management LLC lifted its position in 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 purchasing an additional 1,767 shares during the period. Versant Capital Management Inc lifted its position in 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 purchasing an additional 3,813 shares during the period. Neuberger Berman Group LLC bought a new position in Premier in the fourth quarter worth $203,000. Finally, Occudo Quantitative Strategies LP bought a new position in Premier in the fourth quarter worth $229,000. 74.41% of the stock is owned by institutional investors.

Premier Price Performance

Shares of NASDAQ:PINC traded up $0.51 during midday trading on Wednesday, reaching $24.53. The company's stock had a trading volume of 1,727,396 shares, compared to its average volume of 1,584,035. Premier, Inc. has a fifty-two week low of $17.23 and a fifty-two week high of $24.55. The company has a market capitalization of $2.02 billion, a P/E ratio of 43.04 and a beta of 0.56. The business's fifty day simple moving average is $21.93 and its 200-day simple moving average is $20.73.

Analysts Set New Price Targets

A number of brokerages have issued reports on PINC. 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. Piper Sandler lifted their price objective on Premier from $19.00 to $24.00 and gave the company a "neutral" rating in a report on Wednesday, May 21st. 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.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $22.20.

Insider Transactions at Premier

In related news, Director John T. Bigalke sold 1,137 shares of Premier stock in a transaction dated 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 in the company, valued at $660,339.19. This trade represents a 3.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Helen M. Boudreau sold 2,000 shares of Premier stock in a transaction dated 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 approximately $427,123.84. The trade was a 9.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.96% of the stock is owned by company insiders.

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.