Grantham Mayo Van Otterloo & Co. LLC Sells 41,773 Shares of Premier, Inc. $PINC

Grantham Mayo Van Otterloo & Co. LLC reduced its stake in Premier, Inc. by 63.7% in Q2, selling 41,773 shares. The fund now holds 23,793 shares worth $522,000. Other institutional investors also adjusted their positions in Premier. Analysts have given mixed ratings, with a consensus price target of $26.46. Premier's stock opened at $28.26, with a market cap of $2.33 billion. Insider transactions included sales by Andy Brailo and John T. Bigalke.

Grantham Mayo Van Otterloo & Co. LLC trimmed its position in Premier, Inc. (NASDAQ:PINC - Free Report) by 63.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,793 shares of the company's stock after selling 41,773 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC's holdings in Premier were worth $522,000 as of its most recent filing with the Securities and Exchange Commission.

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A number of other hedge funds and other institutional investors have also bought and sold shares of PINC. First Horizon Advisors Inc. raised its holdings in Premier by 198.2% in 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. bought a new stake in Premier during the second quarter valued at about $32,000. Signaturefd LLC grew its position in shares of Premier by 72.2% in the second quarter. Signaturefd LLC now owns 2,197 shares of the company's stock valued at $48,000 after purchasing an additional 921 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Premier by 112.1% in 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, Parallel Advisors LLC increased its stake in shares of Premier by 2,172.9% in the second quarter. Parallel Advisors LLC now owns 2,932 shares of the company's stock worth $64,000 after purchasing an additional 2,803 shares during the period. 74.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Read Our Latest Stock Analysis on PINC

Premier Trading Up 0.3%

Shares of PINC stock opened at $28.26 on Tuesday. Premier, Inc. has a 12 month low of $17.23 and a 12 month high of $28.79. The company has a market capitalization of $2.33 billion, a P/E ratio of -104.67 and a beta of 0.64. The stock has a 50 day moving average of $28.06 and a two-hundred day moving average of $25.03.

Premier (NASDAQ:PINC - Get Free Report) last released its quarterly earnings data on Tuesday, January 14th. The company reported $0.67 earnings per share (EPS) for the quarter. The business had revenue of ($713.06) million for the quarter. Premier had a positive return on equity of 6.84% and a negative net margin of 3.28%. Sell-side analysts predict that Premier, Inc. will post 1.13 earnings per share for the current fiscal year.

Insider Transactions at Premier

In other news, insider Andy Brailo sold 6,521 shares of Premier stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $25.79, for a total transaction of $168,176.59. Following the sale, the insider directly owned 99,447 shares in the company, valued at approximately $2,564,738.13. The trade was a 6.15% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John T. Bigalke sold 1,137 shares of the company's stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $25.79, for a total transaction of $29,323.23. Following the completion of the sale, the director directly owned 27,536 shares in the company, valued at approximately $710,153.44. The trade was a 3.97% decrease in their position. The SEC filing for this sale provides additional information. 0.96% of the stock is currently owned by company insiders.

About Premier

(Free Report)

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.

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