River Road Asset Management LLC Cuts Position in Premier Inc (PINC)

River Road Asset Management LLC trimmed its holdings in shares of Premier Inc (NASDAQ:PINC) by 16.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,795,385 shares of the company’s stock after selling 365,581 shares during the quarter. Premier makes up approximately 1.7% of River Road Asset Management LLC’s investment portfolio, making the stock its 8th biggest holding. River Road Asset Management LLC owned about 1.35% of Premier worth $82,193,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. CENTRAL TRUST Co increased its holdings in Premier by 195.9% during the third quarter. CENTRAL TRUST Co now owns 3,270 shares of the company’s stock valued at $150,000 after buying an additional 2,165 shares during the period. Fort L.P. purchased a new position in Premier during the second quarter valued at approximately $123,000. Mission Wealth Management LP purchased a new position in Premier during the third quarter valued at approximately $230,000. PNC Financial Services Group Inc. increased its holdings in Premier by 41.5% during the second quarter. PNC Financial Services Group Inc. now owns 5,034 shares of the company’s stock valued at $184,000 after buying an additional 1,477 shares during the period. Finally, Creative Planning purchased a new position in Premier during the third quarter valued at approximately $234,000. 42.03% of the stock is currently owned by institutional investors.

In other Premier news, SVP David Alfred Hargraves sold 2,210 shares of Premier stock in a transaction on Tuesday, October 2nd. The shares were sold at an average price of $45.58, for a total value of $100,731.80. Following the transaction, the senior vice president now directly owns 11,108 shares of the company’s stock, valued at $506,302.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William E. Mayer sold 3,000 shares of Premier stock in a transaction on Thursday, August 23rd. The stock was sold at an average price of $43.35, for a total transaction of $130,050.00. Following the completion of the transaction, the director now directly owns 14,587 shares in the company, valued at $632,346.45. The disclosure for this sale can be found here. Insiders sold 15,656 shares of company stock worth $684,386 over the last ninety days. Corporate insiders own 18.30% of the company’s stock.

NASDAQ PINC opened at $44.86 on Friday. Premier Inc has a 12-month low of $27.16 and a 12-month high of $47.22. The firm has a market capitalization of $5.96 billion, a price-to-earnings ratio of 21.46, a PEG ratio of 1.52 and a beta of 0.55.

Premier (NASDAQ:PINC) last released its quarterly earnings results on Tuesday, August 21st. The company reported $0.70 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.04. Premier had a net margin of 47.84% and a negative return on equity of 25.18%. The business had revenue of $433.96 million for the quarter, compared to analyst estimates of $412.24 million. During the same period in the previous year, the company earned $0.50 earnings per share. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Premier Inc will post 2.48 EPS for the current fiscal year.

Several brokerages recently issued reports on PINC. Zacks Investment Research lowered shares of Premier from a “buy” rating to a “hold” rating in a report on Thursday. Piper Jaffray Companies lifted their price objective on shares of Premier from $32.00 to $40.00 and gave the company a “neutral” rating in a report on Tuesday, August 21st. Benchmark reissued a “buy” rating and set a $50.00 price objective (up from $40.00) on shares of Premier in a report on Wednesday, August 22nd. ValuEngine raised shares of Premier from a “hold” rating to a “buy” rating in a report on Wednesday, August 22nd. Finally, Oppenheimer lifted their price objective on shares of Premier to $48.00 and gave the company an “outperform” rating in a report on Tuesday, August 21st. Nine investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $41.68.

Premier Profile

Premier, Inc, together with its subsidiaries, operates as a healthcare improvement company in the United States. The company operates through two segments, Supply Chain Services and Performance Services. The Supply Chain Services segment offers its members with 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 document shredding services and software-as-a-service informatics products.

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Institutional Ownership by Quarter for Premier (NASDAQ:PINC)

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