Martingale Asset Management L P grew its stake in shares of Premier, Inc. (NASDAQ:PINC) by 81.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 96,525 shares of the company’s stock after buying an additional 43,405 shares during the period. Martingale Asset Management L P owned 0.19% of Premier worth $3,476,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position 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 purchasing an additional 384 shares during the last quarter. PNC Financial Services Group Inc. increased its position 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 purchasing an additional 149 shares during the last quarter. Advisors Asset Management Inc. increased its position in Premier by 49.8% in the first quarter. Advisors Asset Management Inc. now owns 4,389 shares of the company’s stock worth $140,000 after purchasing an additional 1,459 shares during the last quarter. Pacer Advisors Inc. increased its position in Premier by 13.5% in the first quarter. Pacer Advisors Inc. now owns 6,652 shares of the company’s stock worth $212,000 after purchasing an additional 791 shares during the last quarter. Finally, Teza Capital Management LLC bought a new stake in Premier in the first quarter worth $236,000. Hedge funds and other institutional investors own 98.87% of the company’s stock.
Several equities research analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Premier from a “sell” rating to a “hold” rating in a research report on Tuesday, September 5th. BidaskClub cut shares of Premier from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 23rd. Piper Jaffray Companies restated a “hold” rating on shares of Premier in a research report on Tuesday, August 22nd. William Blair restated an “ourperform” rating on shares of Premier in a research report on Tuesday, August 22nd. Finally, Jefferies Group LLC restated a “buy” rating and issued a $40.00 price target on shares of Premier in a research report on Wednesday, August 9th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company. Premier presently has a consensus rating of “Hold” and a consensus price target of $38.43.
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Premier, Inc. (NASDAQ:PINC) opened at 32.59 on Friday. The stock has a market capitalization of $1.73 billion, a price-to-earnings ratio of 21.58 and a beta of 0.47. Premier, Inc. has a 1-year low of $28.27 and a 1-year high of $36.50. The firm’s 50-day moving average is $33.52 and its 200 day moving average is $33.66.
Premier (NASDAQ:PINC) last posted 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). Premier had a net margin of 0.66% and a negative return on equity of 16.27%. The firm had revenue of $403.10 million during the quarter, compared to analyst estimates of $400.45 million. During the same period in the prior year, the company posted $0.36 earnings per share. The firm’s revenue for the quarter was up 33.7% compared to the same quarter last year. Equities analysts anticipate that Premier, Inc. will post $2.05 EPS for the current fiscal year.
In other Premier news, CEO Susan D. Devore sold 40,000 shares of the firm’s stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $32.74, for a total value of $1,309,600.00. Following the completion of the sale, the chief executive officer now directly owns 466,427 shares of the company’s stock, valued at approximately $15,270,819.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Leigh Anderson sold 1,099 shares of the firm’s stock in a transaction on Monday, June 19th. The stock was sold at an average price of $35.29, for a total value of $38,783.71. Following the completion of the sale, the senior vice president now directly owns 7,655 shares of the company’s stock, valued at $270,144.95. The disclosure for this sale can be found here. Over the last three months, insiders sold 79,113 shares of company stock valued at $2,614,647. 17.14% of the stock is owned by corporate insiders.
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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