Zacks Investment Management Reduces Position in Premier, Inc. (PINC)
Zacks Investment Management decreased its stake in Premier, Inc. (NASDAQ:PINC) by 3.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 58,546 shares of the company’s stock after selling 2,244 shares during the period. Zacks Investment Management owned about 0.11% of Premier worth $2,108,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of the stock. Voya Investment Management LLC lifted its stake in Premier by 2.5% in the 2nd quarter. Voya Investment Management LLC now owns 15,889 shares of the company’s stock valued at $572,000 after purchasing an additional 382 shares during the last quarter. OxFORD Asset Management LLP bought a new position in Premier in the 2nd quarter valued at approximately $2,003,000. Dimensional Fund Advisors LP lifted its stake in Premier by 3.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 351,667 shares of the company’s stock valued at $12,660,000 after purchasing an additional 13,225 shares during the last quarter. Citadel Advisors LLC lifted its stake in Premier by 37.7% in the 2nd quarter. Citadel Advisors LLC now owns 1,193,181 shares of the company’s stock valued at $42,954,000 after purchasing an additional 326,899 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in Premier by 10.9% in the 2nd quarter. Renaissance Technologies LLC now owns 914,100 shares of the company’s stock valued at $32,908,000 after purchasing an additional 89,500 shares during the last quarter. 37.75% of the stock is owned by institutional investors and hedge funds.
Premier, Inc. (NASDAQ PINC) opened at 32.57 on Friday. The stock’s 50 day moving average is $33.36 and its 200 day moving average is $33.71. Premier, Inc. has a 1-year low of $28.27 and a 1-year high of $36.50. The company has a market cap of $1.73 billion, a P/E ratio of 21.57 and a beta of 0.47.
Premier (NASDAQ:PINC) last announced its quarterly earnings data on Monday, August 21st. The company reported $0.50 earnings per share (EPS) for the quarter, missing the Zacks’ 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 during the quarter, compared to analysts’ expectations of $400.45 million. During the same period last year, the company posted $0.36 EPS. Premier’s revenue for the quarter was up 33.7% on a year-over-year basis. Equities analysts anticipate that Premier, Inc. will post $2.05 earnings per share for the current fiscal year.
Several brokerages recently commented on PINC. Zacks Investment Research raised shares of Premier from a “sell” rating to a “hold” rating in a research note on Tuesday, September 5th. Jefferies Group LLC reaffirmed a “buy” rating and set a $40.00 price target on shares of Premier in a research note on Wednesday, August 9th. William Blair reaffirmed an “ourperform” rating on shares of Premier in a research note on Tuesday, August 22nd. BidaskClub downgraded shares of Premier from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Finally, Piper Jaffray Companies reaffirmed a “hold” rating on shares of Premier in a research note on Tuesday, August 22nd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $38.43.
In other news, SVP Leigh Anderson sold 2,264 shares of the company’s stock in a transaction 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 completion of the sale, the senior vice president now owns 14,654 shares of the company’s stock, valued at approximately $479,625.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Susan D. Devore sold 40,000 shares of the company’s stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $32.74, for a total transaction of $1,309,600.00. Following the completion of the sale, the chief executive officer now directly owns 466,427 shares of the company’s stock, valued at approximately $15,270,819.98. The disclosure for this sale can be found here. Insiders sold a total of 78,014 shares of company stock valued at $2,575,863 in the last ninety days. 17.14% of the stock is owned by corporate insiders.
COPYRIGHT VIOLATION WARNING: This piece was first posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this piece on another website, it was stolen and reposted in violation of United States & international trademark and copyright law. The legal version of this piece can be accessed at https://www.thecerbatgem.com/2017/09/30/zacks-investment-management-reduces-position-in-premier-inc-pinc.html.
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.
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).
Receive News & Stock Ratings for Premier Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Premier Inc. and related stocks with our FREE daily email newsletter.