CENTRAL TRUST Co raised its stake in shares of Premier Inc (NASDAQ:PINC) by 195.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,270 shares of the company’s stock after buying an additional 2,165 shares during the period. CENTRAL TRUST Co’s holdings in Premier were worth $150,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of the company. Bank of New York Mellon Corp increased its stake in shares of Premier by 4.7% in the second quarter. Bank of New York Mellon Corp now owns 607,584 shares of the company’s stock worth $22,104,000 after purchasing an additional 27,215 shares during the period. Schroder Investment Management Group increased its stake in shares of Premier by 64.4% in the second quarter. Schroder Investment Management Group now owns 194,900 shares of the company’s stock worth $7,088,000 after purchasing an additional 76,326 shares during the period. Public Employees Retirement System of Ohio increased its stake in shares of Premier by 9.3% in the second quarter. Public Employees Retirement System of Ohio now owns 19,868 shares of the company’s stock worth $723,000 after purchasing an additional 1,697 shares during the period. HighPoint Advisor Group LLC bought a new position in shares of Premier in the second quarter worth about $837,000. Finally, NorthCoast Asset Management LLC increased its stake in shares of Premier by 9.0% in the second quarter. NorthCoast Asset Management LLC now owns 19,116 shares of the company’s stock worth $695,000 after purchasing an additional 1,574 shares during the period. Institutional investors and hedge funds own 42.41% of the company’s stock.
Shares of PINC opened at $46.55 on Tuesday. Premier Inc has a 12-month low of $27.16 and a 12-month high of $46.59. The stock has a market cap of $6.08 billion, a P/E ratio of 66.50, a PEG ratio of 1.56 and a beta of 0.54.
Premier (NASDAQ:PINC) last released its quarterly earnings data on Tuesday, August 21st. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.04. The company had revenue of $433.96 million for the quarter, compared to the consensus estimate of $412.24 million. Premier had a negative return on equity of 25.18% and a net margin of 47.84%. The company’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.50 earnings per share. On average, equities analysts anticipate that Premier Inc will post 2.48 EPS for the current fiscal year.
PINC has been the topic of a number of recent analyst reports. ValuEngine upgraded Premier from a “sell” rating to a “hold” rating in a research note on Monday, June 11th. BidaskClub upgraded Premier from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 16th. Leerink Swann assumed coverage on Premier in a research note on Wednesday, June 27th. They set an “outperform” rating and a $45.00 price target on the stock. Zacks Investment Research lowered Premier from a “hold” rating to a “sell” rating in a research note on Wednesday, July 11th. Finally, Canaccord Genuity lowered Premier from a “buy” rating to a “hold” rating and set a $43.00 price target on the stock. in a research note on Tuesday, August 14th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $40.54.
In other Premier news, SVP David Alfred Hargraves sold 2,210 shares of Premier stock in a transaction that occurred on Tuesday, October 2nd. The stock was sold at an average price of $45.58, for a total transaction of $100,731.80. Following the sale, the senior vice president now directly owns 11,108 shares of the company’s stock, valued at $506,302.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Craig S. Mckasson sold 6,250 shares of Premier stock in a transaction that occurred on Friday, August 24th. The shares were sold at an average price of $43.09, for a total value of $269,312.50. Following the sale, the chief financial officer now directly owns 90,184 shares in the company, valued at $3,886,028.56. The disclosure for this sale can be found here. Insiders have sold 15,656 shares of company stock worth $684,386 over the last ninety days. Company insiders own 17.52% of the company’s stock.
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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