Premier Inc shares are trading higher after the company authorized a $1 billion buyback and said it will seek partners to take ownership in some or all of its holdings in Contigo Health and S2S Global. The company also reported Q2 earnings results.
Portfolio Pulse from Benzinga Newsdesk
Premier Inc (PINC) shares are up following a $1 billion buyback announcement and plans to seek partners for ownership stakes in Contigo Health and S2S Global. The company also shared its Q2 earnings results.

February 05, 2024 | 9:37 pm
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Premier Inc announced a $1 billion buyback and is seeking partners for stakes in Contigo Health and S2S Global, alongside reporting Q2 earnings.
The announcement of a $1 billion buyback program is a strong signal of confidence from Premier Inc's management in the company's financial health and future prospects. This, combined with the strategic move to seek partners for Contigo Health and S2S Global, indicates a proactive approach to optimizing its portfolio and unlocking value. The release of Q2 earnings provides additional context for investors, potentially reinforcing the positive sentiment. Overall, these developments are likely to be viewed favorably by the market, leading to a short-term positive impact on PINC's stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100