Premier, Inc. (PINC) Shares Bought by Zurcher Kantonalbank Zurich Cantonalbank
Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Premier, Inc. (NASDAQ:PINC) by 13.7% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,185 shares of the company’s stock after buying an additional 384 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Premier were worth $115,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Pacer Advisors Inc. boosted its stake in shares of Premier by 11.6% in the 2nd quarter. Pacer Advisors Inc. now owns 7,426 shares of the company’s stock worth $267,000 after buying an additional 774 shares during the last quarter. Utah Retirement Systems boosted its stake in shares of Premier by 12.0% in the 2nd quarter. Utah Retirement Systems now owns 9,300 shares of the company’s stock worth $335,000 after buying an additional 1,000 shares during the last quarter. Federated Investors Inc. PA boosted its stake in shares of Premier by 7.5% in the 2nd quarter. Federated Investors Inc. PA now owns 15,246 shares of the company’s stock worth $549,000 after buying an additional 1,064 shares during the last quarter. Cadence Capital Management LLC purchased a new position in shares of Premier in the 2nd quarter worth approximately $1,130,000. Finally, Marshall Wace North America L.P. boosted its stake in shares of Premier by 69.8% in the 2nd quarter. Marshall Wace North America L.P. now owns 57,206 shares of the company’s stock worth $2,059,000 after buying an additional 23,511 shares during the last quarter. Hedge funds and other institutional investors own 37.75% of the company’s stock.
PINC has been the topic of a number of research analyst reports. Piper Jaffray Companies restated a “hold” rating on shares of Premier in a research note on Tuesday, August 22nd. Zacks Investment Research downgraded Premier from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. BidaskClub downgraded Premier from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 23rd. William Blair restated an “ourperform” rating on shares of Premier in a research note on Tuesday, August 22nd. Finally, Jefferies Group LLC restated a “buy” rating and issued a $40.00 target price on shares of Premier in a research note on Wednesday, August 9th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $38.43.
In related news, COO Michael J. Alkire sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of $33.26, for a total value of $831,500.00. Following the sale, the chief operating officer now owns 209,164 shares in the company, valued at $6,956,794.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Craig S. Mckasson sold 10,750 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $33.55, for a total transaction of $360,662.50. Following the completion of the sale, the insider now owns 88,688 shares in the company, valued at approximately $2,975,482.40. The disclosure for this sale can be found here. Insiders sold 78,014 shares of company stock worth $2,575,863 in the last 90 days. 17.14% of the stock is currently owned by corporate insiders.
Shares of Premier, Inc. (NASDAQ PINC) opened at 31.98 on Friday. Premier, Inc. has a 12-month low of $28.27 and a 12-month high of $36.50. The company has a market cap of $1.70 billion, a PE ratio of 21.18 and a beta of 0.47. The company has a 50 day moving average of $33.36 and a 200-day moving average of $33.71.
Premier (NASDAQ:PINC) last issued its earnings results on Monday, August 21st. The company reported $0.50 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by ($0.02). Premier had a negative return on equity of 16.27% and a net margin of 0.66%. The company had revenue of $403.10 million during the quarter, compared to analysts’ expectations of $400.45 million. During the same quarter in the prior year, the business posted $0.36 EPS. The company’s revenue for the quarter was up 33.7% compared to the same quarter last year. Equities research analysts anticipate that Premier, Inc. will post $2.05 earnings per share for the current year.
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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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