Premier, Inc. $PINC Stake Lessened by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC decreased its holdings in shares of Premier, Inc. (NASDAQ:PINC) by 28.7% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 77,077 shares of the company’s stock after selling 30,954 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Premier were worth $2,143,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of PINC. First Horizon Advisors Inc. boosted its position in Premier by 198.2% during the 2nd quarter. First Horizon Advisors Inc. now owns 1,130 shares of the company’s stock worth $25,000 after acquiring an additional 751 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in shares of Premier in the second quarter worth approximately $32,000. Signaturefd LLC boosted its holdings in shares of Premier by 72.2% during the second quarter. Signaturefd LLC now owns 2,197 shares of the company’s stock worth $48,000 after purchasing an additional 921 shares during the period. GAMMA Investing LLC boosted its holdings 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 during the period. Finally, Smartleaf Asset Management LLC grew its position in Premier by 155.1% during the second quarter. Smartleaf Asset Management LLC now owns 2,541 shares of the company’s stock valued at $55,000 after purchasing an additional 1,545 shares in the last quarter. 74.41% of the stock is owned by hedge funds and other institutional investors.

Premier Price Performance

Premier stock opened at $28.26 on Friday. Premier, Inc. has a one year low of $17.23 and a one year high of $28.79. The company’s fifty day moving average price is $28.20 and its two-hundred day moving average price is $25.65. The company 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 released its quarterly earnings results on Tuesday, January 14th. The company reported $0.67 earnings per share (EPS) for the quarter. The company had revenue of ($713.06) million during the quarter. Premier had a positive return on equity of 6.84% and a negative net margin of 3.28%. As a group, sell-side analysts anticipate that Premier, Inc. will post 1.13 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Premier Company Profile

Premier, Inc (NASDAQ: PINC) is a leading healthcare improvement company that unites an alliance of approximately 4,300 hospitals and health systems and more than 175,000 other providers and organizations. The company leverages data-driven insights, supply chain expertise and collaborative networks to help member institutions enhance clinical outcomes, streamline operations and reduce costs. Premier’s integrated platform supports providers throughout the care continuum, enabling them to respond to shifting regulatory requirements, patient needs and financial pressures.

Central to Premier’s offerings is its comprehensive suite of supply chain solutions, which includes group purchasing, sourcing and logistics services designed to optimize procurement processes.