Chicago Capital LLC grew its stake in Premier Inc (NASDAQ:PINC) by 13.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 300,976 shares of the company’s stock after acquiring an additional 35,995 shares during the quarter. Chicago Capital LLC owned about 0.23% of Premier worth $13,779,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in PINC. Dimensional Fund Advisors LP increased its holdings in shares of Premier by 35.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 762,481 shares of the company’s stock valued at $23,873,000 after acquiring an additional 201,099 shares during the period. Jane Street Group LLC purchased a new position in shares of Premier in the 1st quarter valued at $330,000. Royal Bank of Canada increased its holdings in shares of Premier by 45.6% in the 1st quarter. Royal Bank of Canada now owns 27,130 shares of the company’s stock valued at $849,000 after acquiring an additional 8,502 shares during the period. Xact Kapitalforvaltning AB increased its holdings in shares of Premier by 28.2% in the 1st quarter. Xact Kapitalforvaltning AB now owns 9,095 shares of the company’s stock valued at $285,000 after acquiring an additional 2,000 shares during the period. Finally, Allianz Asset Management GmbH purchased a new position in shares of Premier in the 1st quarter valued at $474,000. Institutional investors and hedge funds own 42.26% of the company’s stock.
Shares of PINC stock opened at $44.99 on Tuesday. Premier Inc has a 1-year low of $27.16 and a 1-year high of $47.22. The firm has a market cap of $5.96 billion, a P/E ratio of 64.27, a price-to-earnings-growth ratio of 1.52 and a beta of 0.55.
Premier (NASDAQ:PINC) last announced its earnings results on Tuesday, August 21st. The company reported $0.70 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.04. Premier had a negative return on equity of 25.18% and a net margin of 47.84%. 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 previous year, the business earned $0.50 EPS. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. As a group, analysts predict that Premier Inc will post 2.48 earnings per share for the current year.
A number of research analysts have recently issued reports on the company. Zacks Investment Research downgraded Premier from a “buy” rating to a “hold” rating in a report on Thursday, November 1st. Canaccord Genuity lifted their price target on Premier from $38.00 to $42.00 and gave the company a “hold” rating in a report on Wednesday, August 22nd. BidaskClub downgraded Premier from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 12th. Benchmark restated a “buy” rating and set a $50.00 target price (up from $40.00) on shares of Premier in a research note on Wednesday, August 22nd. Finally, Leerink Swann set a $55.00 target price on Premier and gave the stock a “buy” rating in a research note on Wednesday, August 22nd. Nine analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Premier has a consensus rating of “Buy” and a consensus target price of $41.68.
In other Premier news, CFO Craig S. Mckasson sold 6,250 shares of the business’s stock in a transaction dated 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 owns 90,184 shares in the company, valued at approximately $3,886,028.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director William E. Mayer sold 3,000 shares of the business’s stock in a transaction dated Thursday, August 23rd. The shares were sold at an average price of $43.35, for a total value of $130,050.00. Following the sale, the director now owns 14,587 shares in the company, valued at approximately $632,346.45. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,656 shares of company stock worth $684,386. 18.30% of the stock is owned by company insiders.
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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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