Treasurer of the State of North Carolina Has $900,000 Stake in Premier, Inc. (NASDAQ:PINC)

Treasurer of the State of North Carolina decreased its position in Premier, Inc. (NASDAQ:PINC - Free Report) by 63.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 42,453 shares of the company's stock after selling 74,520 shares during the quarter. Treasurer of the State of North Carolina's holdings in Premier were worth $900,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Neuberger Berman Group LLC purchased a new position in Premier in the fourth quarter valued at $203,000. Raymond James Financial Inc. acquired a new position in Premier in the 4th quarter valued at about $286,000. Invesco Ltd. raised its position in Premier by 23.6% in the fourth quarter. Invesco Ltd. now owns 719,597 shares of the company's stock valued at $15,255,000 after purchasing an additional 137,306 shares during the period. Aster Capital Management DIFC Ltd purchased a new position in Premier during the fourth quarter worth about $52,000. Finally, Russell Investments Group Ltd. lifted its stake in Premier by 40.4% during 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 in the last quarter. 74.41% of the stock is owned by institutional investors.

Insider Activity

In other Premier news, General Counsel David L. Klatsky sold 10,000 shares of the firm's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $19.53, for a total transaction of $195,300.00. Following the completion of the sale, the general counsel now directly owns 90,597 shares in the company, valued at approximately $1,769,359.41. This trade represents a 9.94 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.96% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PINC. Robert W. Baird reduced their target price on shares of Premier from $20.00 to $19.00 and set a "neutral" rating on the stock in a report on Wednesday, February 5th. Piper Sandler cut their price target on shares of Premier from $21.00 to $19.00 and set a "neutral" rating for the company in a report on Wednesday, February 5th. Finally, Canaccord Genuity Group cut their price objective on Premier from $21.00 to $19.00 and set a "hold" rating for the company in a research report on Wednesday, February 5th. Eight analysts have rated the stock with a hold rating, According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $20.17.

Premier Stock Performance

Shares of NASDAQ:PINC traded up $0.12 on Thursday, hitting $19.91. The company's stock had a trading volume of 219,297 shares, compared to its average volume of 1,262,828. The stock's 50-day moving average is $18.79 and its two-hundred day moving average is $20.40. The company has a market capitalization of $1.82 billion, a price-to-earnings ratio of -198.93 and a beta of 0.51. Premier, Inc. has a 12 month low of $17.23 and a 12 month high of $23.56.

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.