Schwab Charles Investment Management Inc. increased its position in Premier, Inc. (NASDAQ:PINC) by 10.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 148,579 shares of the company’s stock after buying an additional 13,652 shares during the quarter. Schwab Charles Investment Management Inc. owned about 0.29% of Premier worth $5,349,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also recently modified their holdings of PINC. PNC Financial Services Group Inc. raised its position in shares of Premier by 4.2% in the 1st 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 during the period. Lazard Asset Management LLC purchased a new position in shares of Premier in the 1st quarter worth $338,000. Oppenheimer Asset Management Inc. purchased a new position in shares of Premier in the 1st quarter worth $368,000. BB&T Corp purchased a new position in shares of Premier in the 2nd quarter worth $458,000. Finally, Schroder Investment Management Group purchased a new position in shares of Premier in the 1st quarter worth $503,000. 37.75% of the stock is currently owned by institutional investors and hedge funds.
In related news, insider Craig S. Mckasson sold 10,750 shares of Premier stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $33.55, for a total value of $360,662.50. Following the completion of the sale, the insider now owns 88,688 shares of the company’s stock, valued at approximately $2,975,482.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Susan D. Devore sold 40,000 shares of Premier 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 directly owns 466,427 shares of the company’s stock, valued at approximately $15,270,819.98. The disclosure for this sale can be found here. In the last ninety days, insiders sold 78,014 shares of company stock valued at $2,575,863. 17.14% of the stock is owned by company insiders.
Several brokerages recently weighed in on PINC. KeyCorp reaffirmed a “buy” rating and issued a $42.00 target price on shares of Premier in a research report on Wednesday, October 4th. Zacks Investment Research raised Premier from a “sell” rating to a “hold” rating in a research report on Tuesday, October 3rd. BidaskClub lowered Premier from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 23rd. Piper Jaffray Companies reaffirmed a “hold” rating on shares of Premier in a research report on Tuesday, August 22nd. Finally, William Blair reaffirmed an “ourperform” rating on shares of Premier in a research report on Tuesday, August 22nd. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $39.29.
Premier, Inc. (PINC) opened at 34.38 on Friday. The firm has a 50-day moving average price of $33.14 and a 200 day moving average price of $33.97. The stock has a market capitalization of $1.83 billion, a price-to-earnings ratio of 22.77 and a beta of 0.46. Premier, Inc. has a 52-week low of $28.27 and a 52-week high of $36.50.
Premier (NASDAQ:PINC) last released its quarterly earnings data on Monday, August 21st. The company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.02). Premier had a net margin of 0.66% and a negative return on equity of 16.27%. The business had revenue of $403.10 million during the quarter, compared to analyst estimates of $400.45 million. During the same period in the previous year, the firm posted $0.36 EPS. The firm’s revenue for the quarter was up 33.7% on a year-over-year basis. On average, equities research analysts predict that Premier, Inc. will post $2.04 EPS for the current year.
Premier Company Profile
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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