Laurion Capital Management LP bought a new position in shares of Premier Inc (NASDAQ:PINC) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 560,000 shares of the company’s stock, valued at approximately $20,373,000. Laurion Capital Management LP owned approximately 0.42% of Premier at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Ostrum Asset Management acquired a new position in Premier in the first quarter valued at approximately $129,000. Flinton Capital Management LLC acquired a new position in Premier in the first quarter valued at approximately $133,000. Riverhead Capital Management LLC acquired a new position in Premier in the first quarter valued at approximately $149,000. Financial Gravity Wealth Inc. acquired a new position in Premier in the first quarter valued at approximately $151,000. Finally, Citigroup Inc. lifted its holdings in Premier by 471.5% in the first quarter. Citigroup Inc. now owns 5,646 shares of the company’s stock valued at $177,000 after buying an additional 4,658 shares during the period. Institutional investors own 42.38% of the company’s stock.
Shares of NASDAQ:PINC opened at $43.88 on Wednesday. Premier Inc has a 52 week low of $27.16 and a 52 week high of $45.31. The company has a market capitalization of $5.87 billion, a price-to-earnings ratio of 62.69, a PEG ratio of 1.50 and a beta of 0.54.
Premier (NASDAQ:PINC) last issued its quarterly earnings data on Tuesday, August 21st. The company reported $0.70 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.04. Premier had a net margin of 47.84% and a negative return on equity of 25.18%. The company had revenue of $433.96 million during the quarter, compared to the consensus estimate of $412.24 million. During the same quarter in the prior year, the firm earned $0.50 earnings per share. The firm’s revenue was up 7.7% compared to the same quarter last year. equities research analysts forecast that Premier Inc will post 2.48 EPS for the current fiscal year.
In other news, Director William E. Mayer sold 3,000 shares of the stock in a transaction 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 completion of the sale, the director now owns 14,587 shares of the company’s stock, valued at $632,346.45. The sale was disclosed in a legal filing 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 on Friday, August 24th. The stock was sold at an average price of $43.09, for a total transaction of $269,312.50. Following the sale, the chief financial officer now directly owns 90,184 shares of the company’s stock, valued at approximately $3,886,028.56. The disclosure for this sale can be found here. Insiders have sold 13,250 shares of company stock valued at $539,363 in the last three months. 17.52% of the stock is owned by insiders.
PINC has been the topic of several analyst reports. Raymond James increased their price objective on shares of Premier from $37.00 to $49.00 and gave the company an “in-line” rating in a report on Wednesday, August 22nd. Zacks Investment Research lowered shares of Premier from a “buy” rating to a “hold” rating in a report on Saturday, May 12th. Canaccord Genuity upped their target price on shares of Premier from $38.00 to $42.00 and gave the company a “hold” rating in a research note on Wednesday, August 22nd. Leerink Swann assumed coverage on shares of Premier in a research note on Wednesday, June 27th. They issued an “outperform” rating and a $45.00 target price for the company. Finally, Oppenheimer upped their target price on shares of Premier to $48.00 and gave the company an “outperform” rating in a research note on Tuesday, August 21st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Premier currently has a consensus rating of “Buy” and a consensus target price of $40.63.
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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