Premier Inc. (PINC) Shares Sold by Neuberger Berman Group LLC
Neuberger Berman Group LLC cut its position in Premier Inc. (NASDAQ:PINC) by 3.3% during the third quarter, Holdings Channel reports. The institutional investor owned 2,228,768 shares of the company’s stock after selling 75,949 shares during the period. Neuberger Berman Group LLC’s holdings in Premier were worth $72,078,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of PINC. Mackenzie Financial Corp boosted its stake in Premier by 0.9% in the second quarter. Mackenzie Financial Corp now owns 47,428 shares of the company’s stock worth $1,551,000 after buying an additional 400 shares during the period. Calvert Investment Management Inc. boosted its stake in Premier by 6.4% in the second quarter. Calvert Investment Management Inc. now owns 8,516 shares of the company’s stock worth $278,000 after buying an additional 509 shares during the period. Princeton Alpha Management LP boosted its stake in Premier by 3.9% in the second quarter. Princeton Alpha Management LP now owns 16,274 shares of the company’s stock worth $532,000 after buying an additional 613 shares during the period. Hsbc Holdings PLC boosted its stake in Premier by 8.3% in the second quarter. Hsbc Holdings PLC now owns 8,067 shares of the company’s stock worth $264,000 after buying an additional 621 shares during the period. Finally, Advisors Asset Management Inc. boosted its stake in Premier by 25.0% in the third quarter. Advisors Asset Management Inc. now owns 3,583 shares of the company’s stock worth $116,000 after buying an additional 717 shares during the period. Hedge funds and other institutional investors own 96.75% of the company’s stock.
Premier Inc. (NASDAQ:PINC) opened at 29.82 on Tuesday. The firm has a market cap of $1.49 billion, a price-to-earnings ratio of 22.11 and a beta of 0.55. The company has a 50-day moving average of $30.88 and a 200 day moving average of $31.96. Premier Inc. has a 52-week low of $28.27 and a 52-week high of $37.00.
Premier (NASDAQ:PINC) last released its quarterly earnings data on Monday, November 7th. The company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.01. The company had revenue of $313.30 million for the quarter, compared to analyst estimates of $319.09 million. Premier had a net margin of 34.65% and a negative return on equity of 9.50%. Premier’s revenue for the quarter was up 15.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.38 EPS. On average, equities research analysts anticipate that Premier Inc. will post $1.81 EPS for the current year.
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A number of equities research analysts have issued reports on PINC shares. Credit Suisse Group AG started coverage on shares of Premier in a report on Friday, August 5th. They set an “outperform” rating and a $39.00 price target for the company. Zacks Investment Research upgraded shares of Premier from a “sell” rating to a “hold” rating in a report on Wednesday, August 10th. Evercore ISI cut shares of Premier from a “buy” rating to a “hold” rating and decreased their price target for the company from $36.50 to $34.00 in a report on Tuesday, August 23rd. Barclays PLC decreased their price target on shares of Premier from $41.00 to $39.00 and set an “overweight” rating for the company in a report on Tuesday, August 23rd. Finally, Citigroup Inc. upped their price target on shares of Premier from $38.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday, August 23rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the stock. Premier currently has an average rating of “Buy” and a consensus price target of $37.08.
In related news, VP R. Wesley Champion sold 7,108 shares of Premier stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $31.47, for a total transaction of $223,688.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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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