Strs Ohio Acquires Shares of 13,138 Premier Inc (PINC)

Share on StockTwits

Strs Ohio acquired a new stake in Premier Inc (NASDAQ:PINC) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 13,138 shares of the company’s stock, valued at approximately $477,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its stake in Premier by 16.2% in the 1st quarter. JPMorgan Chase & Co. now owns 4,867,432 shares of the company’s stock valued at $152,400,000 after purchasing an additional 679,358 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Premier by 46.9% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,797,781 shares of the company’s stock valued at $101,783,000 after purchasing an additional 893,451 shares during the last quarter. Neuberger Berman Group LLC lifted its stake in Premier by 2.1% in the 1st quarter. Neuberger Berman Group LLC now owns 2,586,521 shares of the company’s stock valued at $80,672,000 after purchasing an additional 53,245 shares during the last quarter. River Road Asset Management LLC lifted its stake in Premier by 63.2% in the 2nd quarter. River Road Asset Management LLC now owns 2,160,966 shares of the company’s stock valued at $78,616,000 after purchasing an additional 836,502 shares during the last quarter. Finally, Rice Hall James & Associates LLC lifted its stake in Premier by 32.3% in the 2nd quarter. Rice Hall James & Associates LLC now owns 1,650,914 shares of the company’s stock valued at $60,060,000 after purchasing an additional 403,295 shares during the last quarter. Institutional investors own 41.63% of the company’s stock.

Shares of PINC stock opened at $43.75 on Friday. The company has a market cap of $5.83 billion, a price-to-earnings ratio of 62.50, a P/E/G ratio of 1.49 and a beta of 0.55. Premier Inc has a 12-month low of $27.16 and a 12-month high of $45.31.

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. The firm had revenue of $433.96 million during the quarter, compared to the consensus estimate of $412.24 million. Premier had a net margin of 47.84% and a negative return on equity of 25.18%. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period last year, the business posted $0.50 earnings per share. sell-side analysts anticipate that Premier Inc will post 2.48 EPS for the current fiscal year.

In other news, insider Leigh Anderson sold 2,273 shares of Premier stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $44.48, for a total value of $101,103.04. Following the completion of the sale, the insider now directly owns 16,252 shares in the company, valued at $722,888.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Kelli L. Price sold 4,000 shares of Premier stock in a transaction that occurred on Monday, June 11th. The shares were sold at an average price of $35.00, for a total transaction of $140,000.00. Following the completion of the sale, the vice president now owns 18,678 shares of the company’s stock, valued at $653,730. The disclosure for this sale can be found here. Insiders have sold 15,523 shares of company stock valued at $640,466 over the last 90 days. Company insiders own 17.52% of the company’s stock.

PINC has been the subject of several recent analyst reports. SunTrust Banks downgraded shares of Premier from a “buy” rating to a “hold” rating and set a $38.00 target price for the company. in a research note on Wednesday, August 22nd. They noted that the move was a valuation call. ValuEngine upgraded shares of Premier from a “hold” rating to a “buy” rating in a research note on Wednesday, August 22nd. Leerink Swann set a $55.00 target price on shares of Premier and gave the company a “buy” rating in a research note on Wednesday, August 22nd. Oppenheimer raised 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. Finally, BidaskClub upgraded shares of Premier from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 15th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Premier presently has an average rating of “Buy” and a consensus target price of $40.63.

Premier Company Profile

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.

Featured Story: Average Daily Trade Volume – What You Need to Know

Want to see what other hedge funds are holding PINC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Premier Inc (NASDAQ:PINC).

Institutional Ownership by Quarter for Premier (NASDAQ:PINC)

Receive News & Ratings for Premier Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Premier and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply