Premier, Inc. (PINC) Shares Sold by NorthCoast Asset Management LLC
NorthCoast Asset Management LLC decreased its stake in shares of Premier, Inc. (NASDAQ:PINC) by 78.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,511 shares of the company’s stock after selling 94,253 shares during the quarter. NorthCoast Asset Management LLC owned approximately 0.05% of Premier worth $954,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Alps Advisors Inc. lifted its holdings in Premier by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 15,462 shares of the company’s stock valued at $557,000 after buying an additional 40 shares in the last quarter. Advisors Asset Management Inc. lifted its holdings in Premier by 1.6% during the 2nd quarter. Advisors Asset Management Inc. now owns 4,461 shares of the company’s stock valued at $161,000 after buying an additional 72 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in Premier by 4.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,664 shares of the company’s stock valued at $117,000 after buying an additional 149 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Premier by 13.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,185 shares of the company’s stock valued at $115,000 after purchasing an additional 384 shares in the last quarter. Finally, Alliancebernstein L.P. raised its holdings in shares of Premier by 2.3% in the 2nd quarter. Alliancebernstein L.P. now owns 32,057 shares of the company’s stock valued at $1,154,000 after purchasing an additional 708 shares in the last quarter. Institutional investors own 98.87% of the company’s stock.
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PINC has been the subject of several recent research reports. BidaskClub lowered shares of Premier from a “hold” rating to a “sell” rating in a report on Monday, July 31st. UBS AG restated a “neutral” rating and issued a $35.00 price target (up previously from $34.00) on shares of Premier in a report on Thursday, May 25th. Zacks Investment Research upgraded shares of Premier from a “sell” rating to a “hold” rating in a report on Tuesday, September 5th. Bank of America Corporation boosted their price target on shares of Premier from $37.00 to $39.00 and gave the company a “buy” rating in a report on Thursday, May 25th. Finally, William Blair restated an “ourperform” rating on shares of Premier in a report on Tuesday, August 22nd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company’s stock. Premier currently has an average rating of “Hold” and a consensus price target of $38.43.
In other Premier news, 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 value of $74,100.72. Following the transaction, the senior vice president now directly owns 14,654 shares in the company, valued at $479,625.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Susan D. Devore sold 40,000 shares of the stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $35.24, for a total transaction of $1,409,600.00. Following the completion of the transaction, the chief executive officer now owns 391,589 shares in the company, valued at $13,799,596.36. The disclosure for this sale can be found here. Insiders sold 119,113 shares of company stock worth $4,024,247 over the last quarter. 17.14% of the stock is currently owned by insiders.
Premier, Inc. (NASDAQ:PINC) traded up 0.015% during mid-day trading on Monday, reaching $33.185. 74,384 shares of the company’s stock traded hands. The stock’s 50 day moving average is $33.84 and its 200-day moving average is $33.61. The stock has a market capitalization of $1.77 billion, a PE ratio of 21.977 and a beta of 0.47. Premier, Inc. has a 52 week low of $28.27 and a 52 week high of $36.50.
Premier (NASDAQ:PINC) last announced its quarterly earnings results on Monday, August 21st. The company reported $0.50 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by $0.02. The company had revenue of $403.10 million during the quarter, compared to analysts’ expectations of $400.45 million. Premier had a net margin of 0.66% and a negative return on equity of 16.27%. The business’s revenue for the quarter was up 33.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.36 earnings per share. On average, equities analysts anticipate that Premier, Inc. will post $2.05 EPS for the current year.
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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