Schroder Investment Management Group Buys New Stake in Premier, Inc. (PINC)
Schroder Investment Management Group bought a new stake in Premier, Inc. (NASDAQ:PINC) during the first quarter, Holdings Channel reports. The fund bought 15,765 shares of the company’s stock, valued at approximately $503,000.
Several other hedge funds and other institutional investors have also made changes to their positions in PINC. Comerica Bank boosted its position in shares of Premier by 0.3% in the fourth quarter. Comerica Bank now owns 65,251 shares of the company’s stock valued at $2,122,000 after buying an additional 210 shares in the last quarter. Punch & Associates Investment Management Inc. boosted its position in shares of Premier by 0.6% in the first quarter. Punch & Associates Investment Management Inc. now owns 75,540 shares of the company’s stock valued at $2,404,000 after buying an additional 425 shares in the last quarter. 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 valued at $2,096,000 after buying an additional 747 shares in the last quarter. Pacer Advisors Inc. boosted its position in shares of Premier by 13.5% in the first quarter. Pacer Advisors Inc. now owns 6,652 shares of the company’s stock valued at $212,000 after buying an additional 791 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System boosted its position in shares of Premier by 7.9% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 12,952 shares of the company’s stock valued at $393,000 after buying an additional 950 shares in the last quarter.
Shares of Premier, Inc. (PINC) opened at 35.32 on Friday. The firm has a market cap of $1.83 billion, a price-to-earnings ratio of 16.65 and a beta of 0.48. Premier, Inc. has a 12 month low of $28.27 and a 12 month high of $35.84. The firm has a 50-day moving average of $34.63 and a 200-day moving average of $32.24.
Premier (NASDAQ:PINC) last issued its quarterly earnings results on Monday, May 8th. The company reported $0.52 EPS for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.05. The firm had revenue of $379.80 million for the quarter, compared to analyst estimates of $401.71 million. Premier had a net margin of 31.41% and a negative return on equity of 13.95%. The business’s revenue for the quarter was up 27.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.44 EPS. On average, analysts anticipate that Premier, Inc. will post $1.91 EPS for the current year.
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PINC has been the topic of a number of recent analyst reports. Evercore ISI cut shares of Premier from a “hold” rating to an “underperform” rating in a research note on Friday, March 3rd. Zacks Investment Research cut shares of Premier from a “buy” rating to a “hold” rating in a research note on Wednesday, March 8th. Bank of America Corporation raised shares of Premier from an “underperform” rating to a “buy” rating and set a $37.00 price objective on the stock in a research note on Tuesday, March 28th. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $40.00 price objective on shares of Premier in a research note on Thursday, April 13th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $38.55.
In other news, insider Craig S. Mckasson sold 10,750 shares of the stock in a transaction on Monday, May 15th. The shares were sold at an average price of $34.84, for a total value of $374,530.00. Following the transaction, the insider now owns 74,505 shares of the company’s stock, valued at approximately $2,595,754.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO Michael J. Alkire sold 50,000 shares of the stock in a transaction on Monday, June 12th. The stock was sold at an average price of $35.17, for a total transaction of $1,758,500.00. Following the completion of the transaction, the chief operating officer now directly owns 188,708 shares in the company, valued at approximately $6,636,860.36. The disclosure for this sale can be found here. Insiders sold a total of 183,611 shares of company stock worth $6,451,880 in the last three months. Insiders own 17.14% of the company’s stock.
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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