Jacobs Levy Equity Management Inc. Has $6.25 Million Holdings in Premier, Inc. (NASDAQ:PINC)

Jacobs Levy Equity Management Inc. lessened its holdings in shares of Premier, Inc. (NASDAQ:PINC) by 7.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 282,812 shares of the company’s stock after selling 22,681 shares during the period. Jacobs Levy Equity Management Inc. owned about 0.24% of Premier worth $6,250,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

A number of analysts have weighed in on PINC shares. Canaccord Genuity Group cut shares of Premier from a “buy” rating to a “hold” rating and decreased their target price for the stock from $27.00 to $21.00 in a research note on Wednesday, May 8th. Canaccord Genuity Group reaffirmed a “hold” rating and set a $21.00 target price (down previously from $27.00) on shares of Premier in a research note on Wednesday, May 8th. StockNews.com raised shares of Premier from a “hold” rating to a “buy” rating in a research note on Thursday, May 9th. Robert W. Baird reduced their price objective on shares of Premier from $25.00 to $22.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 8th. Finally, Piper Sandler dropped their target price on shares of Premier from $24.00 to $22.00 and set a “neutral” rating on the stock in a report on Wednesday, May 8th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $23.50.

Premier Stock Up 2.2 %

Shares of PINC traded up $0.46 on Tuesday, reaching $21.31. The company’s stock had a trading volume of 548,412 shares, compared to its average volume of 1,540,950. The company has a current ratio of 0.93, a quick ratio of 0.82 and a debt-to-equity ratio of 0.01. Premier, Inc. has a twelve month low of $17.95 and a twelve month high of $28.14. The stock has a market capitalization of $2.23 billion, a PE ratio of 33.30, a PEG ratio of 6.84 and a beta of 0.42. The firm has a fifty day moving average of $18.96 and a 200-day moving average of $20.38.

Premier (NASDAQ:PINC) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.07. Premier had a net margin of 6.01% and a return on equity of 11.71%. The business had revenue of $342.60 million during the quarter, compared to the consensus estimate of $312.92 million. Equities analysts predict that Premier, Inc. will post 1.96 EPS for the current year.

Insider Activity at Premier

In other Premier news, insider Andy Brailo sold 8,331 shares of the stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $19.64, for a total value of $163,620.84. Following the sale, the insider now directly owns 119,203 shares in the company, valued at approximately $2,341,146.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Andy Brailo sold 8,331 shares of the stock in a transaction on Monday, May 20th. The shares were sold at an average price of $19.64, for a total transaction of $163,620.84. Following the transaction, the insider now owns 119,203 shares of the company’s stock, valued at approximately $2,341,146.92. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Michael J. Alkire sold 17,375 shares of the stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $20.13, for a total transaction of $349,758.75. Following the transaction, the chief executive officer now directly owns 562,698 shares in the company, valued at approximately $11,327,110.74. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 139,075 shares of company stock worth $2,702,909. 0.85% of the stock is owned by corporate 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.