Ameriprise Financial Inc. grew its position in Premier, Inc. (NASDAQ:PINC) by 23.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 184,765 shares of the company’s stock after purchasing an additional 35,492 shares during the quarter. Ameriprise Financial Inc. owned about 0.36% of Premier worth $6,652,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of the stock. Alps Advisors Inc. lifted its stake in Premier by 0.3% during the second quarter. Alps Advisors Inc. now owns 15,462 shares of the company’s stock worth $557,000 after purchasing an additional 40 shares during the last quarter. Advisors Asset Management Inc. increased its holdings 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 buying an additional 72 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings 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 buying an additional 149 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings 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 buying an additional 384 shares in the last quarter. Finally, Alliancebernstein L.P. increased its holdings in shares of Premier by 2.3% during the second quarter. Alliancebernstein L.P. now owns 32,057 shares of the company’s stock worth $1,154,000 after buying an additional 708 shares in the last quarter. Institutional investors and hedge funds own 37.77% of the company’s stock.
In other news, CEO Susan D. Devore sold 40,000 shares of the company’s stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $32.74, for a total transaction of $1,309,600.00. Following the completion of the sale, the chief executive officer now owns 466,427 shares of the company’s stock, valued at $15,270,819.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO Michael J. Alkire sold 25,000 shares of the company’s stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $33.26, for a total transaction of $831,500.00. Following the sale, the chief operating officer now directly owns 209,164 shares of the company’s stock, valued at approximately $6,956,794.64. The disclosure for this sale can be found here. Insiders have sold 78,014 shares of company stock valued at $2,575,863 in the last ninety days. Insiders own 17.52% of the company’s stock.
Several research analysts have recently issued reports on the stock. KeyCorp restated a “buy” rating and issued a $42.00 price objective on shares of Premier in a report on Wednesday, October 4th. Jefferies Group LLC restated a “buy” rating and issued a $40.00 price objective on shares of Premier in a report on Wednesday, August 9th. Zacks Investment Research upgraded Premier from a “sell” rating to a “hold” rating in a report on Tuesday, October 3rd. Piper Jaffray Companies reiterated a “hold” rating on shares of Premier in a report on Tuesday, August 22nd. Finally, William Blair reiterated an “ourperform” rating on shares of Premier in a report on Tuesday, August 22nd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $39.29.
Premier, Inc. (NASDAQ PINC) opened at 32.53 on Friday. Premier, Inc. has a 12 month low of $28.27 and a 12 month high of $36.50. The company has a 50-day moving average of $33.33 and a 200 day moving average of $34.12. The company has a market cap of $1.73 billion, a PE ratio of 21.54 and a beta of 0.46.
Premier (NASDAQ:PINC) last released its earnings results on Monday, August 21st. The company reported $0.50 earnings per share (EPS) for the quarter, missing the Zacks’ 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 business had revenue of $403.10 million for the quarter, compared to analysts’ expectations of $400.45 million. During the same period in the previous year, the company earned $0.36 EPS. Premier’s quarterly revenue was up 33.7% compared to the same quarter last year. On average, equities analysts forecast that Premier, Inc. will post $2.04 earnings per share for the current fiscal year.
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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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