Lucus Advisors LLC boosted its stake in Premier Inc. (NASDAQ:PINC) by 24.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,592 shares of the company’s stock after buying an additional 2,048 shares during the period. Lucus Advisors LLC’s holdings in Premier were worth $346,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of PINC. TimesSquare Capital Management LLC raised its stake in Premier by 0.5% in the first quarter. TimesSquare Capital Management LLC now owns 2,652,100 shares of the company’s stock valued at $88,474,000 after buying an additional 14,100 shares during the last quarter. Royal Bank of Canada increased its position in shares of Premier by 9.6% in the first quarter. Royal Bank of Canada now owns 1,184,700 shares of the company’s stock valued at $39,521,000 after buying an additional 103,349 shares during the period. BlackRock Institutional Trust Company N.A. increased its position in shares of Premier by 3.1% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,122,894 shares of the company’s stock valued at $37,460,000 after buying an additional 33,519 shares during the period. State Street Corp increased its position in shares of Premier by 12.2% in the first quarter. State Street Corp now owns 763,700 shares of the company’s stock valued at $25,475,000 after buying an additional 83,272 shares during the period. Finally, Douglas Lane & Associates LLC increased its position in shares of Premier by 18.0% in the second quarter. Douglas Lane & Associates LLC now owns 559,588 shares of the company’s stock valued at $18,299,000 after buying an additional 85,450 shares during the period. 99.13% of the stock is currently owned by institutional investors and hedge funds.
Shares of Premier Inc. (NASDAQ:PINC) traded up 1.95% during trading on Friday, hitting $32.34. 552,208 shares of the stock traded hands. The firm has a market cap of $1.53 billion, a P/E ratio of 24.26 and a beta of 0.55. Premier Inc. has a 52 week low of $29.68 and a 52 week high of $37.24. The company has a 50-day moving average of $31.88 and a 200-day moving average of $32.69.
Premier (NASDAQ:PINC) last posted its quarterly earnings data on Monday, August 22nd. The company reported $0.36 EPS for the quarter, missing the Zacks’ consensus estimate of $0.38 by $0.02. The company earned $301.40 million during the quarter. Premier had a negative return on equity of 8.33% and a net margin of 110.54%. Premier’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.36 earnings per share. On average, analysts forecast that Premier Inc. will post $1.77 EPS for the current fiscal year.
PINC has been the topic of a number of research reports. Canaccord Genuity restated a “buy” rating on shares of Premier in a research report on Wednesday, June 8th. Zacks Investment Research upgraded shares of Premier from a “sell” rating to a “hold” rating in a research report on Wednesday, June 8th. Credit Suisse Group AG initiated coverage on shares of Premier in a research report on Friday, August 5th. They set an “outperform” rating and a $39.00 target price on the stock. Evercore ISI downgraded shares of Premier from a “buy” rating to a “hold” rating and cut their target price for the company from $36.50 to $34.00 in a research report on Tuesday, August 23rd. Finally, Barclays PLC cut their target price on shares of Premier from $41.00 to $39.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 23rd. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $38.85.
In other Premier news, Director Stephen R. D’arcy purchased 4,000 shares of the company’s stock in a transaction on Thursday, August 25th. The shares were purchased at an average cost of $30.91 per share, with a total value of $123,640.00. Following the completion of the purchase, the director now owns 14,042 shares in the company, valued at $434,038.22. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP R. Wesley Champion sold 7,108 shares of the business’s stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $31.47, for a total value of $223,688.76. The disclosure for this sale can be found here. 17.31% of the stock is owned by corporate insiders.
Premier Company Profile
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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