Creative Planning Boosts Holdings in Premier, Inc. $PINC

Creative Planning lifted its stake in shares of Premier, Inc. (NASDAQ:PINC) by 40.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 58,031 shares of the company’s stock after purchasing an additional 16,689 shares during the period. Creative Planning owned about 0.07% of Premier worth $1,273,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of PINC. First Horizon Advisors Inc. boosted its holdings in Premier by 198.2% in the 2nd quarter. First Horizon Advisors Inc. now owns 1,130 shares of the company’s stock worth $25,000 after buying an additional 751 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in shares of Premier in the second quarter valued at approximately $32,000. Signaturefd LLC boosted its stake in shares of Premier by 72.2% in the second quarter. Signaturefd LLC now owns 2,197 shares of the company’s stock worth $48,000 after acquiring an additional 921 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Premier by 112.1% during the second quarter. GAMMA Investing LLC now owns 2,522 shares of the company’s stock worth $55,000 after purchasing an additional 1,333 shares in the last quarter. Finally, Parallel Advisors LLC raised its stake in Premier by 2,172.9% in the 2nd quarter. Parallel Advisors LLC now owns 2,932 shares of the company’s stock valued at $64,000 after purchasing an additional 2,803 shares during the last quarter. Institutional investors and hedge funds own 74.41% of the company’s stock.

Premier Price Performance

NASDAQ:PINC opened at $28.26 on Friday. The company’s 50-day moving average is $28.06 and its two-hundred day moving average is $24.96. Premier, Inc. has a 1-year low of $17.23 and a 1-year high of $28.79. The firm has a market capitalization of $2.33 billion, a price-to-earnings ratio of -104.67 and a beta of 0.64.

Premier (NASDAQ:PINC) last announced its quarterly earnings results on Tuesday, January 14th. The company reported $0.67 earnings per share (EPS) for the quarter. The business had revenue of ($713.06) million during the quarter. Premier had a negative net margin of 3.28% and a positive return on equity of 6.84%. As a group, equities analysts anticipate that Premier, Inc. will post 1.13 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Bank of America lifted their target price on shares of Premier from $19.00 to $21.00 and gave the stock an “underperform” rating in a research note on Tuesday, August 19th. Canaccord Genuity Group upped their price objective on shares of Premier from $25.00 to $28.25 and gave the company a “hold” rating in a research note on Tuesday, September 23rd. UBS Group increased their price objective on shares of Premier from $26.00 to $28.25 and gave the company a “neutral” rating in a report on Thursday, September 25th. Weiss Ratings reissued a “hold (c-)” rating on shares of Premier in a research note on Wednesday, October 8th. Finally, Piper Sandler upped their price target on Premier from $28.00 to $28.25 and gave the company a “neutral” rating in a research report on Wednesday, November 5th. Six investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Premier currently has a consensus rating of “Reduce” and an average price target of $26.46.

Insider Buying and Selling at Premier

In other Premier news, Director John T. Bigalke sold 1,137 shares of the company’s stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $25.79, for a total value of $29,323.23. Following the transaction, the director owned 27,536 shares of the company’s stock, valued at $710,153.44. This represents a 3.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Andy Brailo sold 6,521 shares of the stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $25.79, for a total transaction of $168,176.59. Following the transaction, the insider directly owned 99,447 shares of the company’s stock, valued at approximately $2,564,738.13. This trade represents a 6.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.96% of the company’s stock.

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.