Premier, Inc. (NASDAQ:PINC) Shares Sold by Caxton Associates LP

Caxton Associates LP lessened its holdings in Premier, Inc. (NASDAQ:PINC) by 30.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 68,073 shares of the company’s stock after selling 29,833 shares during the quarter. Caxton Associates LP owned about 0.06% of Premier worth $1,504,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of PINC. Mitsubishi UFJ Trust & Banking Corp acquired a new position in Premier in the 1st quarter worth approximately $27,000. Global Retirement Partners LLC increased its holdings in Premier by 153.3% in the 4th quarter. Global Retirement Partners LLC now owns 1,583 shares of the company’s stock worth $35,000 after buying an additional 958 shares during the period. Hexagon Capital Partners LLC increased its holdings in Premier by 71.7% in the 4th quarter. Hexagon Capital Partners LLC now owns 1,660 shares of the company’s stock worth $37,000 after buying an additional 693 shares during the period. Parallel Advisors LLC boosted its position in Premier by 141.2% in the 4th quarter. Parallel Advisors LLC now owns 1,980 shares of the company’s stock worth $44,000 after purchasing an additional 1,159 shares in the last quarter. Finally, Janiczek Wealth Management LLC boosted its position in Premier by 246.5% in the 4th quarter. Janiczek Wealth Management LLC now owns 2,533 shares of the company’s stock worth $57,000 after purchasing an additional 1,802 shares in the last quarter. Institutional investors and hedge funds own 74.41% of the company’s stock.

Insiders Place Their Bets

In other Premier news, Director Helen M. Boudreau sold 6,629 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $19.85, for a total value of $131,585.65. Following the completion of the sale, the director now directly owns 16,067 shares of the company’s stock, valued at approximately $318,929.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Premier news, CEO Michael J. Alkire sold 2,625 shares of the firm’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $20.00, for a total value of $52,500.00. Following the completion of the sale, the chief executive officer now directly owns 580,073 shares of the company’s stock, valued at approximately $11,601,460. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Helen M. Boudreau sold 6,629 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $19.85, for a total value of $131,585.65. Following the sale, the director now directly owns 16,067 shares of the company’s stock, valued at $318,929.95. The disclosure for this sale can be found here. Insiders sold 139,075 shares of company stock valued at $2,702,909 in the last three months. 0.85% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on PINC. Canaccord Genuity Group restated a “hold” rating and issued a $21.00 price objective (down previously from $27.00) on shares of Premier in a research report on Wednesday, May 8th. JPMorgan Chase & Co. lowered their price objective on Premier from $23.00 to $21.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 28th. Piper Sandler lowered their price objective on Premier from $24.00 to $22.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 8th. Canaccord Genuity Group lowered Premier from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $27.00 to $21.00 in a research report on Wednesday, May 8th. Finally, StockNews.com upgraded Premier from a “hold” rating to a “buy” rating in a research report on Thursday, May 9th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $23.50.

Premier Price Performance

PINC stock traded up $0.23 during midday trading on Tuesday, reaching $21.08. The stock had a trading volume of 160,803 shares, compared to its average volume of 1,538,277. The company’s fifty day simple moving average is $18.92 and its 200 day simple moving average is $20.39. The company has a current ratio of 0.93, a quick ratio of 0.82 and a debt-to-equity ratio of 0.01. The company has a market cap of $2.21 billion, a price-to-earnings ratio of 32.58, a price-to-earnings-growth ratio of 6.84 and a beta of 0.42. Premier, Inc. has a 52-week low of $17.95 and a 52-week high of $28.14.

Premier (NASDAQ:PINC) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.07. The company had revenue of $342.60 million for the quarter, compared to analyst estimates of $312.92 million. Premier had a return on equity of 11.71% and a net margin of 6.01%. As a group, sell-side analysts predict that Premier, Inc. will post 1.96 earnings per share for the current fiscal year.

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.