Tower Research Capital LLC TRC grew its holdings in Premier Inc (NASDAQ:PINC) by 791.4% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 14,128 shares of the company’s stock after buying an additional 12,543 shares during the period. Tower Research Capital LLC TRC’s holdings in Premier were worth $514,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Fort L.P. bought a new position in Premier in the second quarter worth approximately $123,000. Ostrum Asset Management bought a new position in Premier in the first quarter worth approximately $129,000. Flinton Capital Management LLC bought a new position in Premier in the first quarter worth approximately $133,000. Financial Gravity Wealth Inc. bought a new position in Premier in the first quarter worth approximately $151,000. Finally, Citigroup Inc. raised its position in Premier by 471.5% in the first quarter. Citigroup Inc. now owns 5,646 shares of the company’s stock worth $177,000 after acquiring an additional 4,658 shares during the period. Institutional investors and hedge funds own 42.41% of the company’s stock.
In related news, CFO Craig S. Mckasson sold 6,250 shares of Premier stock in a transaction dated Friday, August 24th. The shares were sold at an average price of $43.09, for a total transaction of $269,312.50. Following the completion of the transaction, the chief financial officer now directly owns 90,184 shares of the company’s stock, valued at approximately $3,886,028.56. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Leigh Anderson sold 1,923 shares of Premier stock in a transaction dated Monday, September 17th. The stock was sold at an average price of $43.26, for a total transaction of $83,188.98. Following the transaction, the insider now directly owns 20,076 shares of the company’s stock, valued at $868,487.76. The disclosure for this sale can be found here. Insiders sold a total of 13,446 shares of company stock valued at $583,655 over the last three months. Corporate insiders own 17.52% of the company’s stock.
Premier (NASDAQ:PINC) last issued its quarterly earnings data on Tuesday, August 21st. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $412.24 million. During the same period last year, the company posted $0.50 EPS. The business’s revenue was up 7.7% on a year-over-year basis. sell-side analysts anticipate that Premier Inc will post 2.48 earnings per share for the current fiscal year.
Several research analysts have weighed in on PINC shares. Raymond James increased their price target on shares of Premier from $37.00 to $49.00 and gave the stock an “in-line” rating in a research report on Wednesday, August 22nd. Canaccord Genuity increased their price target on shares of Premier from $38.00 to $42.00 and gave the stock a “hold” rating in a research report on Wednesday, August 22nd. Zacks Investment Research downgraded shares of Premier from a “hold” rating to a “sell” rating in a research report on Wednesday, July 11th. Leerink Swann started coverage on shares of Premier in a research report on Wednesday, June 27th. They issued an “outperform” rating and a $45.00 price target on the stock. Finally, Oppenheimer increased their price target on shares of Premier to $48.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 21st. One research analyst has rated the stock with a sell rating, eight have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $40.63.
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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