Short Interest in Premier, Inc. (PINC) Decreases By 24.4%
Premier, Inc. (NASDAQ:PINC) was the recipient of a significant decrease in short interest in August. As of August 15th, there was short interest totalling 3,219,411 shares, a decrease of 24.4% from the July 31st total of 4,256,640 shares. Based on an average daily trading volume, of 434,240 shares, the short-interest ratio is currently 7.4 days. Approximately 6.5% of the company’s stock are sold short.
Premier (NASDAQ PINC) opened at 33.50 on Friday. The firm has a 50-day moving average of $34.22 and a 200 day moving average of $33.55. Premier has a 52-week low of $28.27 and a 52-week high of $36.50. The company has a market capitalization of $1.78 billion, a P/E ratio of 22.19 and a beta of 0.46.
Premier (NASDAQ:PINC) last announced its quarterly earnings data on Monday, August 21st. The company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.52 by $0.02. Premier had a net margin of 0.66% and a negative return on equity of 16.27%. The business had revenue of $403.10 million for the quarter, compared to analyst estimates of $400.45 million. During the same quarter in the previous year, the firm posted $0.36 earnings per share. The business’s revenue was up 33.7% on a year-over-year basis. Equities analysts predict that Premier will post $2.05 earnings per share for the current fiscal year.
A number of research analysts recently weighed in on the stock. Jefferies Group LLC restated a “buy” rating and set a $40.00 price objective on shares of Premier in a research report on Wednesday, August 9th. Zacks Investment Research downgraded shares of Premier from a “buy” rating to a “hold” rating in a research report on Friday, May 12th. Piper Jaffray Companies restated a “hold” rating on shares of Premier in a research report on Tuesday, August 22nd. William Blair restated an “ourperform” rating on shares of Premier in a research report on Tuesday, August 22nd. Finally, Bank of America Corporation increased their price objective on shares of Premier from $37.00 to $39.00 and gave the company a “buy” rating in a research report on Thursday, May 25th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $38.43.
In related news, insider Craig S. Mckasson sold 10,750 shares of the stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $33.55, for a total transaction of $360,662.50. Following the transaction, the insider now owns 88,688 shares in the company, valued at $2,975,482.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Leigh Anderson sold 2,264 shares of the stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $32.73, for a total transaction of $74,100.72. Following the transaction, the senior vice president now owns 14,654 shares in the company, valued at approximately $479,625.42. The disclosure for this sale can be found here. In the last quarter, insiders sold 251,974 shares of company stock worth $8,691,997. Insiders own 17.14% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. Ameriprise Financial Inc. acquired a new stake in shares of Premier during the first quarter valued at approximately $4,750,000. Wells Fargo & Company MN boosted its stake in shares of Premier by 1.1% in the first quarter. Wells Fargo & Company MN now owns 65,880 shares of the company’s stock valued at $2,096,000 after buying an additional 747 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Premier by 80.0% in the first quarter. Massachusetts Financial Services Co. MA now owns 321,215 shares of the company’s stock valued at $10,224,000 after buying an additional 142,741 shares during the last quarter. TimesSquare Capital Management LLC boosted its stake in shares of Premier by 1.0% in the first quarter. TimesSquare Capital Management LLC now owns 2,638,000 shares of the company’s stock valued at $83,968,000 after buying an additional 27,300 shares during the last quarter. Finally, Virginia Retirement Systems ET AL acquired a new stake in shares of Premier during the first quarter valued at approximately $990,000.
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Premier, Inc is a healthcare improvement company. The Company is uniting an alliance of approximately 3,750 United States hospitals and more than 130,000 other provider organizations to transform healthcare. The Company operates healthcare group purchasing organizations and also provides integrated data and analytics, supply chain solutions, advisory services, performance improvement collaborative and other services.
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