Nordea Investment Management AB Raises Stake in Premier, Inc. (PINC)

Nordea Investment Management AB lifted its stake in shares of Premier, Inc. (NASDAQ:PINC) by 18.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 65,734 shares of the company’s stock after acquiring an additional 10,182 shares during the period. Nordea Investment Management AB’s holdings in Premier were worth $2,141,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of PINC. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Premier by 13.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,185 shares of the company’s stock worth $115,000 after purchasing an additional 384 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Premier by 7.8% during the second quarter. The Manufacturers Life Insurance Company now owns 4,373 shares of the company’s stock worth $157,000 after purchasing an additional 315 shares during the last quarter. Advisors Asset Management Inc. boosted its holdings in Premier by 1.6% during the second quarter. Advisors Asset Management Inc. now owns 4,461 shares of the company’s stock worth $161,000 after purchasing an additional 72 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in Premier by 30.9% during the second quarter. PNC Financial Services Group Inc. now owns 4,796 shares of the company’s stock worth $173,000 after purchasing an additional 1,132 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its holdings in Premier by 11.6% during the second quarter. Pacer Advisors Inc. now owns 7,426 shares of the company’s stock worth $267,000 after purchasing an additional 774 shares during the last quarter. 38.31% of the stock is owned by institutional investors.

Several brokerages recently commented on PINC. Zacks Investment Research upgraded shares of Premier from a “sell” rating to a “hold” rating in a report on Tuesday, September 5th. Jefferies Group restated a “buy” rating and set a $40.00 target price on shares of Premier in a report on Wednesday, August 9th. William Blair reiterated an “ourperform” rating on shares of Premier in a research note on Tuesday, August 22nd. SunTrust Banks cut their price target on shares of Premier to $36.00 and set a “buy” rating for the company in a research note on Friday, November 17th. Finally, BidaskClub cut shares of Premier from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 23rd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company’s stock. Premier presently has a consensus rating of “Hold” and a consensus price target of $38.38.

In other news, COO Michael J. Alkire sold 25,000 shares of the 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 directly owns 180,550 shares of the company’s stock, valued at $5,398,445. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 17.52% of the stock is owned by corporate insiders.

Premier, Inc. (NASDAQ PINC) opened at $29.17 on Thursday. The firm has a market cap of $4,034.45, a PE ratio of 16.15, a PEG ratio of 1.29 and a beta of 0.40. Premier, Inc. has a 1 year low of $27.16 and a 1 year high of $36.50.

Premier (NASDAQ:PINC) last issued its quarterly earnings data on Monday, November 6th. The company reported $0.44 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.05). The company had revenue of $390.56 million during the quarter, compared to the consensus estimate of $389.56 million. Premier had a net margin of 17.99% and a negative return on equity of 18.31%. Premier’s revenue for the quarter was up 24.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.41 earnings per share. equities analysts anticipate that Premier, Inc. will post 1.87 EPS for the current fiscal 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.

Institutional Ownership by Quarter for Premier (NASDAQ:PINC)

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