GW&K Investment Management LLC lowered its holdings in shares of Premier Inc (NASDAQ:PINC) by 1.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 682,862 shares of the company’s stock after selling 11,352 shares during the quarter. GW&K Investment Management LLC owned 0.54% of Premier worth $26,707,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also added to or reduced their stakes in the business. Wells Fargo & Company MN boosted its stake in Premier by 385.3% in the 2nd quarter. Wells Fargo & Company MN now owns 702,320 shares of the company’s stock worth $27,468,000 after purchasing an additional 557,604 shares in the last quarter. Stone Ridge Asset Management LLC boosted its stake in Premier by 10.4% in the 2nd quarter. Stone Ridge Asset Management LLC now owns 69,037 shares of the company’s stock worth $2,700,000 after purchasing an additional 6,500 shares in the last quarter. Teacher Retirement System of Texas boosted its stake in Premier by 48.8% in the 2nd quarter. Teacher Retirement System of Texas now owns 1,006,096 shares of the company’s stock worth $39,348,000 after purchasing an additional 329,900 shares in the last quarter. CIBC Asset Management Inc acquired a new stake in Premier in the 2nd quarter worth approximately $204,000. Finally, State Board of Administration of Florida Retirement System boosted its stake in Premier by 3.3% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 31,936 shares of the company’s stock worth $1,249,000 after purchasing an additional 1,025 shares in the last quarter. Institutional investors and hedge funds own 50.26% of the company’s stock.
In related news, SVP David Alfred Hargraves sold 1,037 shares of the business’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $37.61, for a total value of $39,001.57. Following the completion of the sale, the senior vice president now owns 10,024 shares of the company’s stock, valued at approximately $377,002.64. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director William E. Mayer sold 4,000 shares of the business’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $37.45, for a total transaction of $149,800.00. Following the completion of the sale, the director now directly owns 13,763 shares of the company’s stock, valued at approximately $515,424.35. The disclosure for this sale can be found here. 18.30% of the stock is owned by insiders.
Shares of NASDAQ:PINC traded down $0.86 during trading on Friday, hitting $36.92. 337,214 shares of the stock traded hands, compared to its average volume of 430,908. The company has a market cap of $4.77 billion, a price-to-earnings ratio of 16.26, a P/E/G ratio of 1.35 and a beta of 0.35. The company has a fifty day moving average price of $39.13 and a two-hundred day moving average price of $36.84. Premier Inc has a 52-week low of $31.31 and a 52-week high of $47.22.
Premier (NASDAQ:PINC) last posted its earnings results on Tuesday, August 20th. The company reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.04). The firm had revenue of $316.20 million for the quarter, compared to analysts’ expectations of $426.69 million. Premier had a net margin of 17.30% and a negative return on equity of 27.85%. Premier’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period last year, the firm earned $0.70 earnings per share. As a group, equities research analysts anticipate that Premier Inc will post 2.64 EPS for the current fiscal year.
A number of research firms recently commented on PINC. Citigroup upgraded shares of Premier from a “neutral” rating to a “buy” rating and set a $45.00 target price for the company in a research note on Thursday, May 2nd. BidaskClub lowered shares of Premier from a “buy” rating to a “hold” rating in a research report on Tuesday, August 20th. Guggenheim started coverage on shares of Premier in a research report on Tuesday, June 18th. They set a “neutral” rating and a $41.00 price target for the company. Zacks Investment Research raised shares of Premier from a “sell” rating to a “hold” rating in a research report on Friday, August 16th. Finally, Credit Suisse Group reissued a “neutral” rating and set a $42.00 price target (down from $43.00) on shares of Premier in a research report on Tuesday, August 13th. Eight investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Premier has an average rating of “Hold” and a consensus target price of $41.29.
Premier, Inc, together with its subsidiaries, operates as a healthcare improvement company in the United States. The company operates through two segments, Supply Chain Services and Performance Services. The Supply Chain Services segment offers its members with access to a range of products and services, including medical and surgical products, pharmaceuticals, laboratory supplies, capital equipment, information technology, facilities and construction, and food and nutritional products, as well as purchased services, such as clinical engineering and document shredding services and software-as-a-service informatics products.
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