Empowered Funds LLC Has $11.10 Million Stock Position in Premier, Inc. $PINC

Empowered Funds LLC decreased its holdings in shares of Premier, Inc. (NASDAQ:PINC) by 0.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 506,024 shares of the company’s stock after selling 2,264 shares during the quarter. Empowered Funds LLC owned approximately 0.61% of Premier worth $11,097,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of PINC. Geode Capital Management LLC increased its position in Premier by 33.3% during the second quarter. Geode Capital Management LLC now owns 2,247,171 shares of the company’s stock worth $49,285,000 after buying an additional 561,262 shares during the last quarter. Royal Bank of Canada boosted its stake in shares of Premier by 2,482.1% during the 1st quarter. Royal Bank of Canada now owns 461,445 shares of the company’s stock worth $8,896,000 after acquiring an additional 443,574 shares in the last quarter. Millennium Management LLC increased its holdings in shares of Premier by 101.2% during the 1st quarter. Millennium Management LLC now owns 809,939 shares of the company’s stock valued at $15,616,000 after acquiring an additional 407,373 shares during the last quarter. Brandywine Global Investment Management LLC bought a new position in shares of Premier in the 1st quarter valued at approximately $6,414,000. Finally, American Century Companies Inc. lifted its holdings in Premier by 11.3% in the 1st quarter. American Century Companies Inc. now owns 2,891,710 shares of the company’s stock worth $55,752,000 after purchasing an additional 292,979 shares during the last quarter. Institutional investors and hedge funds own 74.41% of the company’s stock.

Insider Buying and Selling at Premier

In related news, General Counsel David L. Klatsky sold 1,319 shares of the company’s stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $25.85, for a total value of $34,096.15. Following the sale, the general counsel owned 94,331 shares of the company’s stock, valued at $2,438,456.35. The trade was a 1.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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 completion of the transaction, the insider directly owned 99,447 shares of the company’s stock, valued at $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. Insiders have sold 12,326 shares of company stock valued at $317,230 in the last 90 days. 0.96% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have commented on PINC. Leerink Partners increased their price target on Premier from $24.00 to $26.00 and gave the company a “market perform” rating in a report on Tuesday, August 19th. Piper Sandler upped their price objective on shares of Premier from $28.00 to $28.25 and gave the stock a “neutral” rating in a report on Wednesday, November 5th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Premier in a report on Wednesday, October 8th. Robert W. Baird boosted their target price on shares of Premier from $22.00 to $27.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 20th. Finally, UBS Group raised their price target on Premier from $26.00 to $28.25 and gave the company a “neutral” rating in a research report on Thursday, September 25th. Six analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $26.46.

Premier Stock Performance

NASDAQ PINC opened at $28.20 on Wednesday. Premier, Inc. has a twelve month low of $17.23 and a twelve month high of $28.79. The stock has a market cap of $2.33 billion, a PE ratio of -104.44 and a beta of 0.64. The firm has a 50-day simple moving average of $27.78 and a 200 day simple moving average of $24.68.

Premier (NASDAQ:PINC) last posted its quarterly earnings results on Tuesday, January 14th. The company reported $0.67 EPS for the quarter. Premier had a positive return on equity of 6.84% and a negative net margin of 3.28%.The firm had revenue of ($713.06) million during the quarter. Research analysts forecast that Premier, Inc. will post 1.13 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.