Voya Investment Management LLC Sells 3,041 Shares of Premier Inc (PINC)

Voya Investment Management LLC lessened its holdings in shares of Premier Inc (NASDAQ:PINC) by 19.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,759 shares of the company’s stock after selling 3,041 shares during the quarter. Voya Investment Management LLC’s holdings in Premier were worth $464,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in PINC. Fort L.P. acquired a new position in shares of Premier during the 2nd quarter valued at about $123,000. Financial Gravity Wealth Inc. acquired a new position in shares of Premier during the 1st quarter valued at about $151,000. Citigroup Inc. boosted its position in shares of Premier by 471.5% during the 1st quarter. Citigroup Inc. now owns 5,646 shares of the company’s stock valued at $177,000 after acquiring an additional 4,658 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Premier by 41.5% during the 2nd quarter. PNC Financial Services Group Inc. now owns 5,034 shares of the company’s stock valued at $184,000 after acquiring an additional 1,477 shares during the last quarter. Finally, TLP Group LLC acquired a new position in shares of Premier during the 1st quarter valued at about $200,000. 42.41% of the stock is currently owned by institutional investors.

NASDAQ PINC opened at $46.15 on Wednesday. Premier Inc has a 12 month low of $27.16 and a 12 month high of $47.22. The stock has a market capitalization of $6.08 billion, a price-to-earnings ratio of 63.93, a P/E/G ratio of 1.56 and a beta of 0.54.

Premier (NASDAQ:PINC) last posted its earnings results on Tuesday, August 21st. The company reported $0.70 EPS for the quarter, beating the Zacks’ 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 company had revenue of $433.96 million for the quarter, compared to analysts’ expectations of $412.24 million. During the same quarter in the prior year, the company posted $0.50 earnings per share. Premier’s revenue for the quarter was up 7.7% compared to the same quarter last year. Equities research analysts forecast that Premier Inc will post 2.48 EPS for the current fiscal year.

Several research analysts have recently weighed in on PINC shares. Leerink Swann set a $55.00 price target on shares of Premier and gave the company a “buy” rating in a research report on Wednesday, August 22nd. Benchmark reissued a “buy” rating and set a $50.00 price target (up previously from $40.00) on shares of Premier in a research report on Wednesday, August 22nd. ValuEngine raised shares of Premier from a “hold” rating to a “buy” rating in a research report on Wednesday, August 22nd. BidaskClub cut shares of Premier from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 12th. Finally, Canaccord Genuity cut shares of Premier from a “buy” rating to a “hold” rating and set a $43.00 price target on the stock. in a research report on Tuesday, August 14th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Premier currently has a consensus rating of “Buy” and an average price target of $40.54.

In other Premier news, SVP David Alfred Hargraves sold 2,210 shares of the company’s stock in a transaction dated 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 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 at this link. Also, insider Leigh Anderson sold 2,273 shares of the company’s stock in a transaction dated Tuesday, September 4th. The shares were sold at an average price of $44.48, for a total transaction of $101,103.04. Following the completion of the transaction, the insider now directly owns 16,252 shares in the company, valued at approximately $722,888.96. The disclosure for this sale can be found here. Insiders sold 15,656 shares of company stock worth $684,386 in the last ninety days. 17.52% of the stock is currently owned by corporate insiders.

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.

Read More: Why do company’s buyback their stock?

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Institutional Ownership by Quarter for Premier (NASDAQ:PINC)

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