Cipher Capital LP lowered its holdings in shares of Premier, Inc. (NASDAQ:PINC) by 2.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 133,259 shares of the company’s stock after selling 3,416 shares during the quarter. Cipher Capital LP owned 0.10% of Premier worth $4,340,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Premier by 13.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,185 shares of the company’s stock valued at $115,000 after purchasing an additional 384 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings 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 acquiring an additional 149 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Premier by 7.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,373 shares of the company’s stock worth $157,000 after acquiring an additional 315 shares during the last quarter. Advisors Asset Management Inc. lifted its holdings in shares of Premier by 1.6% in the 2nd quarter. Advisors Asset Management Inc. now owns 4,461 shares of the company’s stock worth $161,000 after acquiring an additional 72 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its holdings in shares of Premier by 11.6% in the 2nd quarter. Pacer Advisors Inc. now owns 7,426 shares of the company’s stock worth $267,000 after acquiring an additional 774 shares during the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.
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PINC has been the subject of several analyst reports. Zacks Investment Research upgraded shares of Premier from a “sell” rating to a “hold” rating in a report on Tuesday, September 5th. BidaskClub lowered shares of Premier from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 23rd. William Blair restated an “ourperform” rating on shares of Premier in a report on Tuesday, August 22nd. KeyCorp restated a “buy” rating and issued a $42.00 target price on shares of Premier in a report on Wednesday, October 4th. Finally, Piper Jaffray Companies restated a “hold” rating on shares of Premier in a report on Tuesday, August 22nd. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company’s stock. Premier presently has a consensus rating of “Hold” and an average price target of $38.38.
Premier, Inc. (NASDAQ PINC) traded down $0.55 during mid-day trading on Friday, reaching $27.83. 1,100,000 shares of the company traded hands, compared to its average volume of 681,845. The stock has a market cap of $3,890.00, a P/E ratio of 15.75, a PEG ratio of 1.26 and a beta of 0.46. Premier, Inc. has a 52 week low of $27.16 and a 52 week high of $36.50.
Premier (NASDAQ:PINC) last posted its quarterly earnings results on Monday, November 6th. The company reported $0.44 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.05). The company had revenue of $390.56 million for the quarter, compared to the consensus estimate of $389.56 million. Premier’s revenue for the quarter was up 24.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.41 earnings per share. analysts expect that Premier, Inc. will post 1.87 EPS for the current year.
In related news, COO Michael J. Alkire sold 25,000 shares of the firm’s stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $29.90, for a total value of $747,500.00. Following the transaction, the chief operating officer now owns 180,550 shares of the company’s stock, valued at approximately $5,398,445. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Leigh Anderson sold 2,264 shares of the firm’s stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $32.73, for a total transaction of $74,100.72. Following the completion of the transaction, the senior vice president now directly owns 14,654 shares in the company, valued at approximately $479,625.42. The disclosure for this sale can be found here. Insiders sold a total of 92,264 shares of company stock worth $2,962,701 in the last ninety days. 17.52% of the stock is currently owned by insiders.
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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