Premier, Inc. (PINC) Shares Bought by Burgundy Asset Management Ltd.
Burgundy Asset Management Ltd. raised its holdings in Premier, Inc. (NASDAQ:PINC) by 3.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 328,984 shares of the company’s stock after acquiring an additional 12,384 shares during the period. Burgundy Asset Management Ltd. owned about 0.24% of Premier worth $10,715,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also bought and sold shares of PINC. Janus Henderson Group PLC acquired a new position in Premier in the second quarter valued at about $25,285,000. Jennison Associates LLC grew its stake in Premier by 188.2% in the second quarter. Jennison Associates LLC now owns 712,104 shares of the company’s stock valued at $25,636,000 after acquiring an additional 465,012 shares during the period. APG Asset Management N.V. acquired a new position in Premier in the third quarter valued at about $12,706,000. First Trust Advisors LP grew its stake in Premier by 130.2% in the third quarter. First Trust Advisors LP now owns 658,789 shares of the company’s stock valued at $21,457,000 after acquiring an additional 372,650 shares during the period. Finally, Citadel Advisors LLC grew its stake in Premier by 37.7% in the second quarter. Citadel Advisors LLC now owns 1,193,181 shares of the company’s stock valued at $42,954,000 after acquiring an additional 326,899 shares during the period. 38.31% of the stock is owned by hedge funds and other institutional investors.
Premier, Inc. (NASDAQ:PINC) opened at $29.61 on Friday. The firm has a market capitalization of $4,123.76, a PE ratio of 16.51, a PEG ratio of 1.31 and a beta of 0.40. Premier, Inc. has a 52-week low of $27.16 and a 52-week high of $36.50.
Premier (NASDAQ:PINC) last posted its quarterly earnings data on Monday, November 6th. The company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.05). The firm had revenue of $390.56 million for the quarter, compared to analyst estimates of $389.56 million. Premier had a negative return on equity of 18.31% and a net margin of 17.99%. The firm’s quarterly revenue was up 24.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.41 earnings per share. equities research analysts predict that Premier, Inc. will post 1.87 EPS for the current fiscal year.
A number of research analysts have issued reports on PINC shares. Robert W. Baird reissued a “buy” rating and issued a $35.00 target price on shares of Premier in a research note on Friday, November 10th. KeyCorp reissued a “buy” rating and issued a $42.00 target price on shares of Premier in a research note on Wednesday, October 4th. Zacks Investment Research raised Premier from a “sell” rating to a “hold” rating in a research note on Tuesday, October 3rd. Piper Jaffray Companies reissued a “hold” rating on shares of Premier in a research note on Tuesday, August 22nd. Finally, SunTrust Banks decreased their target price on Premier to $36.00 and set a “buy” rating for the company in a research note on Friday, November 17th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the stock. Premier currently has an average rating of “Hold” and an average price target of $38.38.
In other news, COO Michael J. Alkire sold 25,000 shares of the company’s stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $29.90, for a total transaction of $747,500.00. Following the completion of the transaction, the chief operating officer now directly owns 180,550 shares of the company’s stock, valued at $5,398,445. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 17.52% of the stock is owned by corporate insiders.
Premier, Inc is a healthcare improvement company. The Company is uniting an alliance of approximately 3,900 United States hospitals and health systems and approximately 150,000 other providers and 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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