Systematic Financial Management LP grew its position in Premier, Inc. (NASDAQ:PINC) by 54.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 174,528 shares of the company’s stock after buying an additional 61,466 shares during the period. Systematic Financial Management LP owned approximately 0.34% of Premier worth $6,283,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of the business. Alps Advisors Inc. raised its holdings in Premier by 0.3% in the second quarter. Alps Advisors Inc. now owns 15,462 shares of the company’s stock worth $557,000 after buying an additional 40 shares during the last quarter. Advisors Asset Management Inc. raised its holdings in Premier by 1.6% in the second quarter. Advisors Asset Management Inc. now owns 4,461 shares of the company’s stock worth $161,000 after buying an additional 72 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in Premier by 4.2% in the first quarter. PNC Financial Services Group Inc. now owns 3,664 shares of the company’s stock worth $117,000 after buying an additional 149 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Premier by 13.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,185 shares of the company’s stock worth $115,000 after buying an additional 384 shares during the last quarter. Finally, Wells Fargo & Company MN raised its holdings in Premier by 1.1% in the first quarter. Wells Fargo & Company MN now owns 65,880 shares of the company’s stock worth $2,096,000 after buying an additional 747 shares during the last quarter. 98.87% of the stock is owned by institutional investors and hedge funds.
Several brokerages have issued reports on PINC. Zacks Investment Research raised shares of Premier from a “sell” rating to a “hold” rating in a report on Tuesday, September 5th. BidaskClub cut shares of Premier from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 23rd. Piper Jaffray Companies reiterated a “hold” rating on shares of Premier in a research note on Tuesday, August 22nd. William Blair reiterated an “ourperform” rating on shares of Premier in a research note on Tuesday, August 22nd. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $40.00 price target on shares of Premier in a research note on Wednesday, August 9th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $38.43.
In other Premier news, SVP Leigh Anderson sold 1,099 shares of the firm’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 transaction of $38,783.71. Following the completion of the transaction, the senior vice president now directly owns 7,655 shares of the company’s stock, valued at approximately $270,144.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Susan D. Devore sold 40,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $32.74, for a total transaction of $1,309,600.00. Following the transaction, the chief executive officer now directly owns 466,427 shares of the company’s stock, valued at $15,270,819.98. The disclosure for this sale can be found here. Insiders sold a total of 79,113 shares of company stock valued at $2,614,647 over the last ninety days. 17.14% of the stock is currently owned by insiders.
Shares of Premier, Inc. (NASDAQ PINC) opened at 33.07 on Tuesday. Premier, Inc. has a 52 week low of $28.27 and a 52 week high of $36.50. The company has a market capitalization of $1.76 billion, a price-to-earnings ratio of 21.90 and a beta of 0.47. The stock has a 50 day moving average of $33.79 and a 200-day moving average of $33.66.
Premier (NASDAQ:PINC) last announced its quarterly earnings data on Monday, August 21st. The company reported $0.50 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by $0.02. The company 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 business’s revenue for the quarter was up 33.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.36 earnings per share. On average, analysts anticipate that Premier, Inc. will post $2.05 EPS for the current year.
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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