Bank of America Corp DE Sells 180,987 Shares of Premier, Inc. (PINC)
Bank of America Corp DE cut its stake in shares of Premier, Inc. (NASDAQ:PINC) by 72.0% during the first quarter, according to its most recent filing with the SEC. The fund owned 70,460 shares of the company’s stock after selling 180,987 shares during the period. Bank of America Corp DE’s holdings in Premier were worth $2,243,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in the stock. Los Angeles Capital Management & Equity Research Inc. boosted its stake in shares of Premier by 561.3% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 1,676,451 shares of the company’s stock valued at $53,361,000 after buying an additional 1,422,955 shares during the last quarter. Citadel Advisors LLC boosted its stake in shares of Premier by 1,768.4% in the first quarter. Citadel Advisors LLC now owns 866,282 shares of the company’s stock valued at $27,574,000 after buying an additional 819,917 shares during the last quarter. Norges Bank bought a new stake in shares of Premier during the fourth quarter valued at approximately $11,830,000. Pembroke Management LTD bought a new stake in shares of Premier during the first quarter valued at approximately $11,726,000. Finally, Vanguard Group Inc. boosted its stake in shares of Premier by 7.9% in the first quarter. Vanguard Group Inc. now owns 4,045,361 shares of the company’s stock valued at $128,764,000 after buying an additional 297,758 shares during the last quarter.
Premier, Inc. (NASDAQ:PINC) traded up 0.48% during trading on Friday, hitting $33.35. The company’s stock had a trading volume of 623,601 shares. The firm has a market cap of $1.73 billion, a P/E ratio of 15.72 and a beta of 0.46. The firm has a 50 day moving average of $35.18 and a 200 day moving average of $33.38. Premier, Inc. has a 12 month low of $28.27 and a 12 month high of $36.50.
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PINC has been the topic of several analyst reports. Zacks Investment Research cut Premier from a “buy” rating to a “hold” rating in a report on Friday, May 12th. Bank of America Corporation upped their target price on Premier from $37.00 to $39.00 and gave the company a “buy” rating in a report on Thursday, May 25th. BidaskClub cut Premier from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Jefferies Group LLC reiterated a “buy” rating and issued a $40.00 target price on shares of Premier in a report on Wednesday. Finally, UBS AG reiterated a “neutral” rating and issued a $35.00 target price (up from $34.00) on shares of Premier in a report on Thursday, May 25th. Three research analysts have rated the stock with a sell rating, two have given a hold rating and twelve have assigned a buy rating to the company. Premier has a consensus rating of “Buy” and an average price target of $38.25.
In other news, insider Craig S. Mckasson sold 10,750 shares of the business’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $34.84, for a total transaction of $374,530.00. Following the transaction, the insider now directly owns 74,505 shares of the company’s stock, valued at $2,595,754.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Leigh Anderson sold 1,099 shares of the business’s stock in a transaction that occurred on Monday, June 19th. The shares were sold at an average price of $35.29, for a total value of $38,783.71. Following the transaction, the senior vice president now directly owns 7,655 shares in the company, valued at $270,144.95. The disclosure for this sale can be found here. Insiders have sold 184,710 shares of company stock worth $6,490,663 over the last three months. Insiders own 17.14% of the company’s stock.
Premier Company Profile
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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