Westwood Holdings Group Inc. lowered its position in Premier, Inc. (NASDAQ:PINC) by 15.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,139,730 shares of the company’s stock after selling 212,187 shares during the period. Westwood Holdings Group Inc. owned approximately 2.20% of Premier worth $40,916,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Wells Fargo & Company MN raised its stake in shares of Premier by 1.1% during the first quarter. Wells Fargo & Company MN now owns 65,880 shares of the company’s stock valued at $2,096,000 after acquiring an additional 747 shares in the last quarter. Empire Life Investments Inc. bought a new stake in shares of Premier during the first quarter valued at approximately $878,000. Bank of New York Mellon Corp raised its stake in shares of Premier by 49.6% during the first quarter. Bank of New York Mellon Corp now owns 640,226 shares of the company’s stock valued at $20,378,000 after acquiring an additional 212,235 shares in the last quarter. Swiss National Bank raised its stake in shares of Premier by 6.0% during the first quarter. Swiss National Bank now owns 82,612 shares of the company’s stock valued at $2,630,000 after acquiring an additional 4,700 shares in the last quarter. Finally, UBS Asset Management Americas Inc. raised its stake in shares of Premier by 43.6% during the first quarter. UBS Asset Management Americas Inc. now owns 37,196 shares of the company’s stock valued at $1,184,000 after acquiring an additional 11,293 shares in the last quarter. 37.75% of the stock is owned by institutional investors and hedge funds.
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Several analysts have recently weighed in on PINC shares. Zacks Investment Research downgraded shares of Premier from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Piper Jaffray Companies reaffirmed a “hold” rating on shares of Premier in a research note on Tuesday, August 22nd. KeyCorp reaffirmed a “buy” rating and set a $42.00 price target on shares of Premier in a research note on Wednesday, October 4th. BidaskClub downgraded shares of Premier from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 23rd. Finally, William Blair reaffirmed an “ourperform” rating on shares of Premier in a research note on Tuesday, August 22nd. Two investment 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’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $39.29.
In other Premier news, CEO Susan D. Devore sold 40,000 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 466,427 shares in the company, valued at approximately $15,270,819.98. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Leigh Anderson sold 2,264 shares of the 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 sale, the senior vice president now owns 14,654 shares in the company, valued at $479,625.42. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 78,014 shares of company stock worth $2,575,863. 17.14% of the stock is owned by company insiders.
Shares of Premier, Inc. (PINC) traded up 0.38% during trading on Thursday, reaching $34.21. 106,677 shares of the company were exchanged. The stock has a market capitalization of $1.82 billion, a P/E ratio of 22.66 and a beta of 0.46. Premier, Inc. has a 1-year low of $28.27 and a 1-year high of $36.50. The firm has a 50-day moving average price of $33.11 and a 200-day moving average price of $33.97.
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). The business 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%. Premier’s quarterly revenue was up 33.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.36 earnings per share. Equities research analysts predict that Premier, Inc. will post $2.04 earnings per share for the current fiscal year.
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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