Public Employees Retirement System of Ohio Has $740,000 Stake in Premier, Inc. (PINC)
Public Employees Retirement System of Ohio lifted its stake in shares of Premier, Inc. (NASDAQ:PINC) by 32.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,554 shares of the company’s stock after acquiring an additional 5,070 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Premier were worth $740,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Premier by 13.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,185 shares of the company’s stock worth $115,000 after acquiring an additional 384 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of Premier by 4.2% during the first quarter. PNC Financial Services Group Inc. now owns 3,664 shares of the company’s stock worth $117,000 after acquiring an additional 149 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Premier by 7.8% during the second quarter. The Manufacturers Life Insurance Company now owns 4,373 shares of the company’s stock worth $157,000 after acquiring an additional 315 shares during the last quarter. Advisors Asset Management Inc. raised its position in shares of Premier by 1.6% during the second quarter. Advisors Asset Management Inc. now owns 4,461 shares of the company’s stock worth $161,000 after acquiring an additional 72 shares during the last quarter. Finally, Pacer Advisors Inc. raised its position in shares of Premier by 11.6% during the second quarter. Pacer Advisors Inc. now owns 7,426 shares of the company’s stock worth $267,000 after acquiring an additional 774 shares during the last quarter. Institutional investors own 38.49% of the company’s stock.
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A number of brokerages have recently issued reports on PINC. KeyCorp restated a “buy” rating and set a $42.00 price objective on shares of Premier in a research report on Wednesday, October 4th. Jefferies Group LLC restated a “buy” rating and set a $40.00 price objective on shares of Premier in a research report on Wednesday, August 9th. Zacks Investment Research upgraded Premier from a “sell” rating to a “hold” rating in a research report on Tuesday, October 3rd. Piper Jaffray Companies restated a “hold” rating on shares of Premier in a research report on Tuesday, August 22nd. Finally, William Blair restated an “ourperform” rating on shares of Premier in a research report on Tuesday, August 22nd. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $39.33.
Shares of Premier, Inc. (NASDAQ:PINC) opened at $27.79 on Friday. The firm has a market capitalization of $4,185.50, a P/E ratio of 16.79, a price-to-earnings-growth ratio of 1.34 and a beta of 0.46. Premier, Inc. has a 1-year low of $27.15 and a 1-year high of $36.50.
Premier (NASDAQ:PINC) last issued its earnings results on Monday, November 6th. The company reported $0.44 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.05). The business had revenue of $390.56 million during the quarter, compared to the consensus estimate of $389.56 million. Premier had a negative return on equity of 18.31% and a net margin of 17.99%. The company’s revenue for the quarter was up 24.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.41 earnings per share. equities analysts expect that Premier, Inc. will post 1.87 EPS for the current fiscal year.
Premier announced that its board has approved a stock buyback plan on Tuesday, October 31st that permits the company to buyback $200.00 million in shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
In other Premier news, SVP Leigh Anderson sold 2,264 shares of Premier stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $32.73, for a total value of $74,100.72. Following the completion of the sale, the senior vice president now directly owns 14,654 shares in the company, valued at $479,625.42. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Craig S. Mckasson sold 10,750 shares of Premier stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $33.55, for a total value of $360,662.50. Following the completion of the sale, the insider now owns 88,688 shares of the company’s stock, valued at $2,975,482.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 78,014 shares of company stock valued at $2,575,863. 17.52% of the stock is currently 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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