Abich Financial Wealth Management LLC Has $43,000 Stake in Premier, Inc. (NASDAQ:PINC)

Abich Financial Wealth Management LLC raised its stake in shares of Premier, Inc. (NASDAQ:PINC) by 50.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,951 shares of the company’s stock after buying an additional 650 shares during the quarter. Abich Financial Wealth Management LLC’s holdings in Premier were worth $43,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Westwood Holdings Group Inc. lifted its holdings in shares of Premier by 6.4% during the 1st quarter. Westwood Holdings Group Inc. now owns 339,808 shares of the company’s stock valued at $7,510,000 after purchasing an additional 20,416 shares in the last quarter. Clean Yield Group acquired a new position in shares of Premier in the first quarter valued at approximately $2,600,000. Swedbank AB bought a new stake in shares of Premier during the first quarter worth $241,000. Comerica Bank raised its holdings in shares of Premier by 0.9% during the first quarter. Comerica Bank now owns 77,422 shares of the company’s stock worth $1,711,000 after acquiring an additional 728 shares during the period. Finally, Invenomic Capital Management LP raised its holdings in shares of Premier by 37.7% during the first quarter. Invenomic Capital Management LP now owns 1,027,437 shares of the company’s stock worth $22,706,000 after acquiring an additional 281,131 shares during the period. 74.41% of the stock is currently owned by institutional investors and hedge funds.

Premier Stock Performance

Shares of PINC stock traded down $0.29 during trading on Friday, reaching $20.68. 1,001,307 shares of the company’s stock were exchanged, compared to its average volume of 885,834. The firm’s fifty day moving average price is $19.06 and its 200-day moving average price is $20.37. Premier, Inc. has a twelve month low of $17.95 and a twelve month high of $28.03. The stock has a market capitalization of $2.17 billion, a PE ratio of 32.31, a PEG ratio of 6.90 and a beta of 0.42. The company has a quick ratio of 0.82, a current ratio of 0.93 and a debt-to-equity ratio of 0.01.

Premier (NASDAQ:PINC) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.07. The company had revenue of $342.60 million for the quarter, compared to analyst estimates of $312.92 million. Premier had a net margin of 6.01% and a return on equity of 11.71%. As a group, sell-side analysts anticipate that Premier, Inc. will post 1.96 EPS for the current year.

Analysts Set New Price Targets

PINC has been the subject of a number of research reports. Canaccord Genuity Group reiterated a “hold” rating and set a $21.00 target price (down previously from $27.00) on shares of Premier in a report on Wednesday, May 8th. Canaccord Genuity Group cut Premier from a “buy” rating to a “hold” rating and cut their target price for the company from $27.00 to $21.00 in a research note on Wednesday, May 8th. StockNews.com raised shares of Premier from a “hold” rating to a “buy” rating in a research note on Thursday, May 9th. JPMorgan Chase & Co. lowered their price objective on shares of Premier from $23.00 to $21.00 and set a “neutral” rating on the stock in a report on Tuesday, May 28th. Finally, Robert W. Baird reduced their target price on shares of Premier from $25.00 to $22.00 and set a “neutral” rating for the company in a report on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Premier has an average rating of “Hold” and an average price target of $23.50.

Insider Buying and Selling

In other Premier news, CEO Michael J. Alkire sold 2,625 shares of the business’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $20.00, for a total value of $52,500.00. Following the completion of the sale, the chief executive officer now owns 580,073 shares of the company’s stock, valued at approximately $11,601,460. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Michael J. Alkire sold 17,375 shares of the company’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $20.13, for a total transaction of $349,758.75. Following the completion of the sale, the chief executive officer now owns 562,698 shares of the company’s stock, valued at $11,327,110.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael J. Alkire sold 2,625 shares of the firm’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $20.00, for a total transaction of $52,500.00. Following the completion of the transaction, the chief executive officer now directly owns 580,073 shares in the company, valued at $11,601,460. The disclosure for this sale can be found here. In the last ninety days, insiders sold 157,846 shares of company stock valued at $3,099,352. Insiders own 0.85% of the company’s stock.

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.