M&T Bank Corp purchased a new position in shares of Premier Inc (NASDAQ:PINC) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 40,633 shares of the company’s stock, valued at approximately $1,187,000.
A number of other institutional investors have also modified their holdings of the stock. State of Alaska Department of Revenue purchased a new stake in Premier in the fourth quarter worth $124,000. The Manufacturers Life Insurance Company increased its position in Premier by 7.8% in the second quarter. The Manufacturers Life Insurance Company now owns 4,373 shares of the company’s stock worth $157,000 after buying an additional 315 shares during the last quarter. PNC Financial Services Group Inc. increased its position in Premier by 30.9% in the second quarter. PNC Financial Services Group Inc. now owns 4,796 shares of the company’s stock worth $173,000 after buying an additional 1,132 shares during the last quarter. American Century Companies Inc. purchased a new stake in Premier in the fourth quarter worth $243,000. Finally, Fox Run Management L.L.C. purchased a new stake in Premier in the third quarter worth $287,000. Institutional investors and hedge funds own 42.22% of the company’s stock.
A number of analysts have issued reports on PINC shares. Robert W. Baird reissued a “buy” rating and issued a $35.00 target price on shares of Premier in a research report on Friday, November 10th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $30.00 target price on shares of Premier in a research report on Tuesday, December 19th. Citigroup started coverage on Premier in a research report on Thursday, January 4th. They issued a “neutral” rating for the company. SunTrust Banks decreased their target price on Premier to $36.00 and set a “buy” rating for the company in a research report on Friday, November 17th. Finally, BidaskClub raised Premier from a “sell” rating to a “hold” rating in a research report on Tuesday, January 23rd. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Premier currently has a consensus rating of “Buy” and a consensus price target of $36.71.
In other news, Director Stephen R. D’arcy sold 3,967 shares of Premier stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $31.72, for a total value of $125,833.24. Following the completion of the transaction, the director now directly owns 11,233 shares in the company, valued at $356,310.76. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 17.52% of the stock is currently owned by insiders.
Premier Inc (PINC) opened at $31.82 on Tuesday. The firm has a market capitalization of $4,320.00, a price-to-earnings ratio of -18.94, a PEG ratio of 1.26 and a beta of 0.50. Premier Inc has a 52-week low of $27.16 and a 52-week high of $36.50. The company has a debt-to-equity ratio of -0.01, a current ratio of 0.83 and a quick ratio of 0.71.
Premier (NASDAQ:PINC) last announced its quarterly earnings results on Monday, February 5th. The company reported $0.50 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.02. The company had revenue of $411.40 million during the quarter, compared to analysts’ expectations of $393.35 million. Premier had a negative return on equity of 19.94% and a net margin of 14.14%. The firm’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.46 earnings per share. analysts anticipate that Premier Inc will post 2.11 EPS for the current year.
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Premier Company Profile
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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