Advisors Asset Management Inc. grew its stake in shares of Premier, Inc. (NASDAQ:PINC) by 1.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,461 shares of the company’s stock after purchasing an additional 72 shares during the period. Advisors Asset Management Inc.’s holdings in Premier were worth $161,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. PNC Financial Services Group Inc. raised its holdings in shares of Premier by 4.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,664 shares of the company’s stock worth $117,000 after acquiring an additional 149 shares during the last quarter. Pacer Advisors Inc. raised its holdings in shares of Premier by 13.5% in the 1st quarter. Pacer Advisors Inc. now owns 6,652 shares of the company’s stock worth $212,000 after acquiring an additional 791 shares during the last quarter. Teza Capital Management LLC acquired a new stake in shares of Premier in the 1st quarter worth about $236,000. Clark Capital Management Group Inc. acquired a new stake in shares of Premier in the 1st quarter worth about $329,000. Finally, Lazard Asset Management LLC purchased a new stake in Premier in the 1st quarter valued at about $338,000. Hedge funds and other institutional investors own 37.75% of the company’s stock.
In other Premier news, SVP Leigh Anderson sold 2,264 shares of the stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $32.73, for a total transaction of $74,100.72. Following the transaction, the senior vice president now directly owns 14,654 shares in the company, valued at approximately $479,625.42. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Craig S. Mckasson sold 10,750 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $33.55, for a total transaction of $360,662.50. Following the completion of the sale, the insider now owns 88,688 shares in the company, valued at $2,975,482.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 78,014 shares of company stock worth $2,575,863. 17.14% of the stock is owned by company insiders.
Premier, Inc. (NASDAQ:PINC) traded up 0.16% during mid-day trading on Friday, hitting $31.98. 429,540 shares of the stock traded hands. The company’s 50 day moving average is $33.36 and its 200 day moving average is $33.71. The company has a market cap of $1.70 billion, a P/E ratio of 21.18 and a beta of 0.47. Premier, Inc. has a 12 month low of $28.27 and a 12 month high of $36.50.
Premier (NASDAQ:PINC) last announced its earnings results on Monday, August 21st. The company reported $0.50 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by ($0.02). The firm had revenue of $403.10 million during the quarter, compared to analysts’ expectations of $400.45 million. Premier had a net margin of 0.66% and a negative return on equity of 16.27%. The company’s revenue was up 33.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.36 EPS. On average, analysts expect that Premier, Inc. will post $2.05 earnings per share for the current fiscal year.
PINC has been the subject of several analyst reports. Piper Jaffray Companies reiterated a “hold” rating on shares of Premier in a research note on Tuesday, August 22nd. Zacks Investment Research downgraded shares of Premier from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. BidaskClub downgraded shares of Premier from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 23rd. William Blair reissued an “ourperform” rating on shares of Premier in a research report on Tuesday, August 22nd. Finally, Jefferies Group LLC reissued a “buy” rating and set a $40.00 target price on shares of Premier in a research report on Wednesday, August 9th. Two analysts have rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $38.43.
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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