Artemis Investment Management LLP Cuts Position in Premier, Inc. (PINC)
Artemis Investment Management LLP lowered its position in shares of Premier, Inc. (NASDAQ:PINC) by 16.4% during the second quarter, according to its most recent filing with the SEC. The fund owned 302,507 shares of the company’s stock after selling 59,168 shares during the period. Artemis Investment Management LLP owned about 0.58% of Premier worth $10,888,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the company. Alps Advisors Inc. boosted its position in shares of Premier by 0.3% in the second quarter. Alps Advisors Inc. now owns 15,462 shares of the company’s stock worth $557,000 after buying an additional 40 shares during the last quarter. Advisors Asset Management Inc. boosted its position in shares of Premier by 1.6% in the second quarter. Advisors Asset Management Inc. now owns 4,461 shares of the company’s stock worth $161,000 after buying an additional 72 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Premier by 4.2% in the first quarter. PNC Financial Services Group Inc. now owns 3,664 shares of the company’s stock worth $117,000 after buying an additional 149 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Premier by 13.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,185 shares of the company’s stock worth $115,000 after buying an additional 384 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its position in shares of Premier by 1.1% in the first quarter. Wells Fargo & Company MN now owns 65,880 shares of the company’s stock worth $2,096,000 after buying an additional 747 shares during the last quarter.
Shares of Premier, Inc. (PINC) opened at 32.99 on Friday. The stock has a market cap of $1.76 billion, a price-to-earnings ratio of 21.85 and a beta of 0.47. The stock’s 50 day moving average is $34.14 and its 200 day moving average is $33.56. Premier, Inc. has a 52-week low of $28.27 and a 52-week high of $36.50.
Premier (NASDAQ:PINC) last released its earnings results on Monday, August 21st. The company reported $0.50 EPS for the quarter, missing the Zacks’ consensus estimate of $0.52 by $0.02. Premier had a negative return on equity of 16.27% and a net margin of 0.66%. The firm had revenue of $403.10 million for the quarter, compared to analyst estimates of $400.45 million. During the same period last year, the firm earned $0.36 EPS. The company’s revenue for the quarter was up 33.7% compared to the same quarter last year. On average, equities analysts predict that Premier, Inc. will post $2.05 EPS for the current fiscal year.
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A number of brokerages recently issued reports on PINC. UBS AG reiterated a “neutral” rating and issued a $35.00 price target (up previously from $34.00) on shares of Premier in a research note on Thursday, May 25th. Bank of America Corporation upped their price target on shares of Premier from $37.00 to $39.00 and gave the stock a “buy” rating in a research note on Thursday, May 25th. Zacks Investment Research upgraded shares of Premier from a “sell” rating to a “hold” rating in a research note on Friday, August 18th. Jefferies Group LLC reiterated a “buy” rating and issued a $40.00 price target on shares of Premier in a research note on Wednesday, August 9th. Finally, William Blair reiterated an “ourperform” rating on shares of Premier in a research note on Tuesday, August 22nd. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $38.43.
In related news, SVP Leigh Anderson sold 2,264 shares of Premier stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $32.73, for a total transaction of $74,100.72. Following the completion of the sale, the senior vice president now owns 14,654 shares of the company’s stock, valued at $479,625.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Susan D. Devore sold 40,000 shares of Premier stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $32.74, for a total value of $1,309,600.00. Following the sale, the chief executive officer now directly owns 466,427 shares of the company’s stock, valued at approximately $15,270,819.98. The disclosure for this sale can be found here. Insiders have sold 251,974 shares of company stock valued at $8,691,997 in the last ninety days. Corporate insiders own 17.14% of the company’s stock.
Premier Company Profile
Premier, Inc is a healthcare improvement company. The Company is uniting an alliance of approximately 3,750 United States hospitals and more than 130,000 other provider organizations 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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