PEAK6 Investments L.P. bought a new stake in Premier Inc (NASDAQ:PINC) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm bought 11,769 shares of the company’s stock, valued at approximately $428,000.
A number of other hedge funds have also recently added to or reduced their stakes in the business. Fort L.P. acquired a new stake in Premier during the 2nd quarter worth approximately $123,000. Ostrum Asset Management acquired a new stake in Premier during the 1st quarter worth approximately $129,000. Flinton Capital Management LLC acquired a new position in shares of Premier in the 1st quarter worth approximately $133,000. Riverhead Capital Management LLC acquired a new position in shares of Premier in the 1st quarter worth approximately $149,000. Finally, Financial Gravity Wealth Inc. acquired a new position in shares of Premier in the 1st quarter worth approximately $151,000. 42.41% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of Premier from a “hold” rating to a “sell” rating in a research report on Wednesday, July 11th. ValuEngine upgraded shares of Premier from a “sell” rating to a “hold” rating in a research note on Monday, June 11th. Raymond James lifted their price objective on shares of Premier from $37.00 to $49.00 and gave the company an “in-line” rating in a research note on Wednesday, August 22nd. Benchmark reiterated a “buy” rating and issued a $50.00 price objective (up previously from $40.00) on shares of Premier in a research note on Wednesday, August 22nd. Finally, BidaskClub upgraded shares of Premier from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 16th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $40.54.
In other Premier news, Director William E. Mayer sold 3,000 shares of the stock in a transaction that occurred on Thursday, August 23rd. The shares were sold at an average price of $43.35, for a total transaction of $130,050.00. Following the transaction, the director now directly owns 14,587 shares in the company, valued at $632,346.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Craig S. Mckasson sold 6,250 shares of the stock in a transaction that occurred on Friday, August 24th. The shares were sold at an average price of $43.09, for a total transaction of $269,312.50. Following the transaction, the chief financial officer now owns 90,184 shares in the company, valued at $3,886,028.56. The disclosure for this sale can be found here. Over the last three months, insiders sold 15,656 shares of company stock worth $684,386. Insiders own 17.52% of the company’s stock.
NASDAQ PINC traded down $0.37 during trading on Friday, hitting $45.45. 733,336 shares of the company’s stock traded hands, compared to its average volume of 677,628. Premier Inc has a 12-month low of $27.16 and a 12-month high of $46.58. The company has a market cap of $6.08 billion, a PE ratio of 64.93, a price-to-earnings-growth ratio of 1.56 and a beta of 0.54.
Premier (NASDAQ:PINC) last announced its quarterly earnings results on Tuesday, August 21st. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.04. Premier had a net margin of 47.84% and a negative return on equity of 25.18%. The firm had revenue of $433.96 million for the quarter, compared to the consensus estimate of $412.24 million. During the same period in the prior year, the firm posted $0.50 earnings per share. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. As a group, equities research analysts expect that Premier Inc will post 2.48 EPS for the current fiscal year.
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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