New York State Common Retirement Fund Has $584,000 Stock Position in Premier, Inc. (NASDAQ:PINC)

New York State Common Retirement Fund reduced its position in shares of Premier, Inc. (NASDAQ:PINC) by 23.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 30,309 shares of the company’s stock after selling 9,500 shares during the quarter. New York State Common Retirement Fund’s holdings in Premier were worth $584,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Alps Advisors Inc. raised its stake in Premier by 7.8% during the 1st quarter. Alps Advisors Inc. now owns 921,163 shares of the company’s stock worth $17,760,000 after buying an additional 66,391 shares during the period. Bridgeway Capital Management LLC raised its stake in Premier by 3.0% during the 4th quarter. Bridgeway Capital Management LLC now owns 762,337 shares of the company’s stock worth $16,162,000 after buying an additional 21,861 shares during the period. Northern Trust Corp raised its stake in Premier by 20.5% during the 4th quarter. Northern Trust Corp now owns 741,739 shares of the company’s stock worth $15,725,000 after buying an additional 126,217 shares during the period. Invesco Ltd. raised its stake in Premier by 23.6% during the 4th quarter. Invesco Ltd. now owns 719,597 shares of the company’s stock worth $15,255,000 after buying an additional 137,306 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in Premier by 2.4% during the 4th quarter. JPMorgan Chase & Co. now owns 489,428 shares of the company’s stock worth $10,376,000 after buying an additional 11,599 shares during the period. 74.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PINC. Canaccord Genuity Group boosted their price objective on Premier from $19.00 to $22.00 and gave the stock a “hold” rating in a report on Thursday, May 8th. Piper Sandler boosted their price objective on Premier from $19.00 to $24.00 and gave the stock a “neutral” rating in a report on Wednesday, May 21st. Finally, Robert W. Baird boosted their price objective on Premier from $19.00 to $22.00 and gave the stock a “neutral” rating in a report on Thursday, May 15th. Seven analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $22.20.

Premier Stock Performance

Shares of PINC opened at $21.17 on Friday. The stock has a 50 day moving average price of $22.19 and a two-hundred day moving average price of $20.71. The firm has a market capitalization of $1.74 billion, a P/E ratio of 37.14 and a beta of 0.56. Premier, Inc. has a 52 week low of $17.23 and a 52 week high of $23.56.

Insider Activity

In other news, Director Helen M. Boudreau sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $22.88, for a total value of $45,760.00. Following the completion of the transaction, the director directly owned 18,668 shares of the company’s stock, valued at $427,123.84. This represents a 9.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director John T. Bigalke sold 1,137 shares of the company’s stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $23.03, for a total value of $26,185.11. Following the completion of the transaction, the director directly owned 28,673 shares of the company’s stock, valued at approximately $660,339.19. This represents a 3.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 14,119 shares of company stock valued at $321,676 over the last three months. 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.