Pacer Advisors Inc. Raises Stake in Premier, Inc. (PINC)
Pacer Advisors Inc. lifted its holdings in shares of Premier, Inc. (NASDAQ:PINC) by 11.6% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,426 shares of the company’s stock after purchasing an additional 774 shares during the quarter. Pacer Advisors Inc.’s holdings in Premier were worth $267,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also modified their holdings of PINC. PNC Financial Services Group Inc. lifted 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 purchasing an additional 149 shares in the last quarter. Advisors Asset Management Inc. lifted its position in shares of Premier by 49.8% during the first quarter. Advisors Asset Management Inc. now owns 4,389 shares of the company’s stock worth $140,000 after purchasing an additional 1,459 shares in the last quarter. Teza Capital Management LLC acquired a new stake in shares of Premier during the first quarter worth about $236,000. Gargoyle Investment Advisor L.L.C. acquired a new stake in shares of Premier during the second quarter worth about $324,000. Finally, Clark Capital Management Group Inc. acquired a new stake in shares of Premier during the first quarter worth about $329,000. 98.87% of the stock is currently owned by institutional investors and hedge funds.
Shares of Premier, Inc. (PINC) opened at 32.85 on Friday. The stock has a market capitalization of $1.75 billion, a price-to-earnings ratio of 21.76 and a beta of 0.47. Premier, Inc. has a 1-year low of $28.27 and a 1-year high of $36.50. The company’s 50 day moving average is $33.59 and its 200-day moving average is $33.66.
Premier (NASDAQ:PINC) last released its quarterly earnings results on Monday, August 21st. The company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.02). The company had revenue of $403.10 million for the quarter, compared to analyst estimates of $400.45 million. Premier had a negative return on equity of 16.27% and a net margin of 0.66%. The business’s revenue was up 33.7% on a year-over-year basis. During the same period last year, the firm posted $0.36 earnings per share. Equities analysts anticipate that Premier, Inc. will post $2.05 earnings per share for the current fiscal year.
A number of analysts recently weighed in on PINC shares. Jefferies Group LLC restated a “buy” rating and set a $40.00 target price on shares of Premier in a research note on Wednesday, August 9th. Zacks Investment Research lowered shares of Premier from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Piper Jaffray Companies restated a “hold” rating on shares of Premier in a research note on Tuesday, August 22nd. William Blair restated an “ourperform” rating on shares of Premier in a research note on Tuesday, August 22nd. Finally, Bank of America Corporation upped their target price 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. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. Premier has an average rating of “Hold” and an average price target of $38.43.
In related news, SVP Leigh Anderson sold 2,264 shares of the business’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $32.73, for a total transaction of $74,100.72. Following the transaction, the senior vice president now directly owns 14,654 shares of the company’s stock, valued at approximately $479,625.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Susan D. Devore sold 40,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 466,427 shares in the company, valued at $15,270,819.98. The disclosure for this sale can be found here. Insiders have sold a total of 79,113 shares of company stock worth $2,614,647 over the last three months. 17.14% of the stock is currently owned by corporate insiders.
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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