California Public Employees Retirement System cut its position in Premier Inc. (NASDAQ:PINC) by 3.1% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 113,900 shares of the company’s stock after selling 3,600 shares during the period. California Public Employees Retirement System owned about 0.25% of Premier worth $3,724,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. Acrospire Investment Management LLC bought a new position in shares of Premier during the first quarter worth about $103,000. Meeder Asset Management Inc. acquired a new position in shares of Premier during the second quarter worth $105,000. BlackRock Inc. increased its position in shares of Premier by 282.9% in the first quarter. BlackRock Inc. now owns 4,786 shares of the company’s stock worth $160,000 after buying an additional 3,536 shares in the last quarter. Massmutual Trust Co. FSB ADV increased its position in shares of Premier by 1,054.0% in the first quarter. Massmutual Trust Co. FSB ADV now owns 6,924 shares of the company’s stock worth $231,000 after buying an additional 6,324 shares in the last quarter. Finally, Suntrust Banks Inc. acquired a new position in shares of Premier during the second quarter worth $238,000. Institutional investors and hedge funds own 99.13% of the company’s stock.
Shares of Premier Inc. (NASDAQ:PINC) traded down 0.16% during mid-day trading on Friday, hitting $32.09. The company’s stock had a trading volume of 323,761 shares. Premier Inc. has a 1-year low of $29.68 and a 1-year high of $37.24. The company has a 50-day moving average price of $32.06 and a 200-day moving average price of $32.72. The stock has a market cap of $1.52 billion, a PE ratio of 24.07 and a beta of 0.55.
Premier (NASDAQ:PINC) last posted its quarterly earnings results on Monday, August 22nd. The company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.38 by $0.02. Premier had a net margin of 110.54% and a negative return on equity of 8.33%. The company earned $301.40 million during the quarter. During the same period in the prior year, the business posted $0.36 earnings per share. The company’s quarterly revenue was up 13.1% on a year-over-year basis. Analysts predict that Premier Inc. will post $1.77 EPS for the current fiscal year.
A number of brokerages have recently weighed in on PINC. Canaccord Genuity reiterated a “buy” rating and set a $43.00 price target on shares of Premier in a report on Tuesday, August 23rd. Credit Suisse Group AG began coverage on Premier in a report on Friday, August 5th. They set an “outperform” rating and a $39.00 price target on the stock. Barclays PLC lowered their price target on Premier from $41.00 to $39.00 and set an “overweight” rating on the stock in a report on Tuesday, August 23rd. Zacks Investment Research upgraded Premier from a “sell” rating to a “hold” rating in a report on Wednesday, June 8th. Finally, Citigroup Inc. lifted their price target on Premier from $38.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday, August 23rd. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $38.85.
In other news, VP R. Wesley Champion sold 7,108 shares of the business’s stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $31.47, for a total transaction of $223,688.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Durral R. Gilbert sold 20,000 shares of the business’s stock in a transaction dated Tuesday, July 12th. The stock was sold at an average price of $34.00, for a total transaction of $680,000.00. Following the sale, the insider now directly owns 44,239 shares of the company’s stock, valued at $1,504,126. The disclosure for this sale can be found here. Insiders own 17.31% of the company’s stock.
Premier, Inc is a healthcare improvement company. The Company is uniting an alliance of approximately 3,600 United States hospitals and approximately 120,000 other providers 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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