5,115 Shares in Premier Inc (PINC) Purchased by Creative Planning

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Creative Planning acquired a new stake in shares of Premier Inc (NASDAQ:PINC) during the third quarter, Holdings Channel reports. The fund acquired 5,115 shares of the company’s stock, valued at approximately $234,000.

A number of other institutional investors also recently modified their holdings of the business. PNC Financial Services Group Inc. increased its position in Premier by 41.5% during the 2nd quarter. PNC Financial Services Group Inc. now owns 5,034 shares of the company’s stock valued at $184,000 after purchasing an additional 1,477 shares during the period. NorthCoast Asset Management LLC increased its position in Premier by 9.0% during the 2nd quarter. NorthCoast Asset Management LLC now owns 19,116 shares of the company’s stock valued at $695,000 after purchasing an additional 1,574 shares during the period. State of Alaska Department of Revenue increased its position in Premier by 34.5% during the 2nd quarter. State of Alaska Department of Revenue now owns 6,280 shares of the company’s stock valued at $227,000 after purchasing an additional 1,610 shares during the period. Public Employees Retirement System of Ohio increased its position in Premier by 9.3% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 19,868 shares of the company’s stock valued at $723,000 after purchasing an additional 1,697 shares during the period. Finally, BB&T Corp increased its position in Premier by 7.5% during the 3rd quarter. BB&T Corp now owns 24,921 shares of the company’s stock valued at $1,141,000 after purchasing an additional 1,729 shares during the period. 42.26% of the stock is currently owned by institutional investors and hedge funds.

A number of research analysts have issued reports on PINC shares. Raymond James boosted their price objective on shares of Premier from $37.00 to $49.00 and gave the company an “in-line” rating in a research report on Wednesday, August 22nd. Canaccord Genuity boosted their price objective on shares of Premier from $38.00 to $42.00 and gave the company a “hold” rating in a research report on Wednesday, August 22nd. Zacks Investment Research downgraded shares of Premier from a “hold” rating to a “sell” rating in a research report on Friday, August 24th. Oppenheimer boosted their price objective on shares of Premier to $48.00 and gave the company an “outperform” rating in a research report on Tuesday, August 21st. Finally, Piper Jaffray Companies boosted their price objective on shares of Premier from $32.00 to $40.00 and gave the company a “neutral” rating in a research report on Tuesday, August 21st. Nine equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Premier currently has an average rating of “Buy” and a consensus target price of $42.19.

In related news, CFO Craig S. Mckasson sold 6,250 shares of the company’s stock in a transaction dated Friday, August 24th. The shares were sold at an average price of $43.09, for a total value of $269,312.50. Following the transaction, the chief financial officer now owns 90,184 shares in the company, valued at approximately $3,886,028.56. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP David Alfred Hargraves sold 2,210 shares of the company’s stock in a transaction dated Tuesday, October 2nd. The stock was sold at an average price of $45.58, for a total transaction of $100,731.80. Following the completion of the transaction, the senior vice president now owns 11,108 shares in the company, valued at approximately $506,302.64. The disclosure for this sale can be found here. Insiders sold a total of 15,656 shares of company stock worth $684,386 over the last ninety days. Insiders own 18.30% of the company’s stock.

NASDAQ:PINC opened at $41.37 on Friday. The stock has a market capitalization of $5.57 billion, a PE ratio of 18.97, a price-to-earnings-growth ratio of 1.45 and a beta of 0.55. Premier Inc has a 1-year low of $27.16 and a 1-year high of $47.22.

Premier (NASDAQ:PINC) last released its earnings results on Tuesday, November 6th. The company reported $0.65 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.05. The firm had revenue of $401.60 million for the quarter, compared to the consensus estimate of $412.79 million. Premier had a net margin of 32.31% and a negative return on equity of 27.57%. The company’s revenue was up 2.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.44 EPS. As a group, research analysts anticipate that Premier Inc will post 2.48 earnings per share for the current fiscal year.

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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.

Read More: Price to Earnings Ratio (PE), For Valuing Stocks

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)

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