Alliancebernstein L.P. reduced its position in shares of Premier, Inc. (NASDAQ:PINC) by 98.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 31,349 shares of the company’s stock after selling 2,879,698 shares during the period. Alliancebernstein L.P. owned 0.06% of Premier worth $998,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PINC. Dynamic Technology Lab Private Ltd increased its position in Premier by 25.1% in the first quarter. Dynamic Technology Lab Private Ltd now owns 10,928 shares of the company’s stock worth $348,000 after buying an additional 2,192 shares during the period. Schroder Investment Management Group acquired a new position in Premier during the first quarter worth $503,000. Cipher Capital LP increased its position in Premier by 738.8% in the first quarter. Cipher Capital LP now owns 95,503 shares of the company’s stock worth $3,040,000 after buying an additional 84,118 shares during the period. Clinton Group Inc. boosted its stake in shares of Premier by 126.8% in the first quarter. Clinton Group Inc. now owns 129,308 shares of the company’s stock worth $4,116,000 after buying an additional 72,299 shares in the last quarter. Finally, Mckinley Capital Management LLC Delaware purchased a new stake in shares of Premier during the first quarter worth approximately $2,686,000.
Shares of Premier, Inc. (NASDAQ PINC) opened at 32.94 on Friday. The firm has a 50-day moving average of $34.89 and a 200 day moving average of $33.45. Premier, Inc. has a 52 week low of $28.27 and a 52 week high of $36.50. The firm has a market cap of $1.70 billion, a PE ratio of 15.53 and a beta of 0.46.
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PINC has been the subject of a number of recent analyst reports. Zacks Investment Research cut shares of Premier from a “buy” rating to a “hold” rating in a research note on Friday, May 12th. BidaskClub cut shares of Premier from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Jefferies Group LLC reiterated a “buy” rating and issued a $40.00 price target on shares of Premier in a research note on Wednesday, August 9th. Bank of America Corporation increased their price target on shares of Premier from $37.00 to $39.00 and gave the company a “buy” rating in a research note on Thursday, May 25th. Finally, UBS AG reiterated a “neutral” rating and issued a $35.00 price target (up previously from $34.00) on shares of Premier in a research note on Thursday, May 25th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $38.25.
In other Premier news, CEO Susan D. Devore sold 40,000 shares of the business’s stock in a transaction dated Tuesday, June 13th. The stock was sold at an average price of $35.24, for a total transaction of $1,409,600.00. Following the completion of the sale, the chief executive officer now directly owns 391,589 shares in the company, valued at approximately $13,799,596.36. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Michael J. Alkire sold 50,000 shares of the business’s stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $35.17, for a total value of $1,758,500.00. Following the sale, the chief operating officer now owns 188,708 shares of the company’s stock, valued at $6,636,860.36. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 184,710 shares of company stock valued at $6,476,796. Corporate insiders own 17.14% of the company’s stock.
Premier, Inc is a healthcare improvement company. The Company is uniting an alliance of approximately 3,750 United States hospitals and more than 130,000 other provider organizations to transform healthcare. The Company operates healthcare group purchasing organizations and also provides integrated data and analytics, supply chain solutions, advisory services, performance improvement collaborative and other services.
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