Teacher Retirement System of Texas increased its stake in shares of Premier Inc (NASDAQ:PINC) by 136.2% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 676,196 shares of the company’s stock after purchasing an additional 389,971 shares during the period. Teacher Retirement System of Texas’ holdings in Premier were worth $23,322,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of PINC. Cutler Group LP increased its position in shares of Premier by 98.0% during the 4th quarter. Cutler Group LP now owns 792 shares of the company’s stock valued at $29,000 after purchasing an additional 392 shares during the last quarter. Quadrant Capital Group LLC grew its position in Premier by 980.4% during the 1st quarter. Quadrant Capital Group LLC now owns 2,042 shares of the company’s stock worth $68,000 after acquiring an additional 1,853 shares during the last quarter. LPL Financial LLC bought a new position in Premier during the 3rd quarter worth approximately $203,000. Cerity Partners LLC grew its position in Premier by 24.1% during the 4th quarter. Cerity Partners LLC now owns 5,850 shares of the company’s stock worth $218,000 after acquiring an additional 1,137 shares during the last quarter. Finally, Virtu Financial LLC bought a new position in Premier during the 1st quarter worth approximately $234,000. 49.44% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts recently issued reports on the company. Zacks Investment Research lowered Premier from a “hold” rating to a “sell” rating in a research report on Friday, April 12th. Leerink Swann lowered Premier from an “outperform” rating to a “market perform” rating and set a $36.00 price target on the stock. in a research report on Wednesday, April 10th. BidaskClub upgraded Premier from a “hold” rating to a “buy” rating in a research report on Thursday, May 9th. Citigroup upgraded Premier from a “neutral” rating to a “buy” rating and set a $45.00 price target on the stock in a research report on Thursday, May 2nd. Finally, ValuEngine lowered Premier from a “buy” rating to a “hold” rating in a research report on Thursday, February 7th. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $44.40.
In other Premier news, insider Craig S. Mckasson sold 50,000 shares of Premier stock in a transaction on Friday, February 15th. The stock was sold at an average price of $37.55, for a total transaction of $1,877,500.00. Following the completion of the transaction, the insider now owns 135,709 shares in the company, valued at $5,095,872.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 18.30% of the stock is currently owned by insiders.
Shares of NASDAQ:PINC opened at $38.31 on Thursday. The firm has a market cap of $4.82 billion, a price-to-earnings ratio of 54.73, a P/E/G ratio of 1.34 and a beta of 0.46. Premier Inc has a 12-month low of $31.31 and a 12-month high of $47.22.
Premier (NASDAQ:PINC) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $0.66 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.05. The business had revenue of $422.90 million during the quarter, compared to analysts’ expectations of $432.94 million. Premier had a negative return on equity of 27.23% and a net margin of 21.50%. The firm’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.67 earnings per share. As a group, equities research analysts forecast that Premier Inc will post 2.45 EPS for the current fiscal year.
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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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