Premier Inc (PINC) Stake Lessened by GW&K Investment Management LLC
GW&K Investment Management LLC decreased its position in Premier Inc (NASDAQ:PINC) by 1.6% during the 4th quarter, Holdings Channel reports. The firm owned 451,932 shares of the company’s stock after selling 7,253 shares during the period. GW&K Investment Management LLC’s holdings in Premier were worth $13,192,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Premier by 13.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,185 shares of the company’s stock worth $115,000 after purchasing an additional 384 shares during the last quarter. State of Alaska Department of Revenue bought a new position in shares of Premier in the fourth quarter worth approximately $124,000. The Manufacturers Life Insurance Company grew its holdings in shares of Premier by 7.8% in the second quarter. The Manufacturers Life Insurance Company now owns 4,373 shares of the company’s stock worth $157,000 after purchasing an additional 315 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Premier by 30.9% in the second quarter. PNC Financial Services Group Inc. now owns 4,796 shares of the company’s stock worth $173,000 after purchasing an additional 1,132 shares during the last quarter. Finally, Suntrust Banks Inc. bought a new position in shares of Premier in the second quarter worth approximately $276,000. Hedge funds and other institutional investors own 38.36% of the company’s stock.
Shares of Premier Inc (PINC) opened at $32.62 on Monday. The firm has a market cap of $4,552.19, a price-to-earnings ratio of -7.79, a P/E/G ratio of 1.41 and a beta of 0.40. Premier Inc has a fifty-two week low of $27.16 and a fifty-two week high of $36.50.
PINC has been the topic of several recent analyst reports. Zacks Investment Research upgraded shares of Premier from a “sell” rating to a “hold” rating in a report on Tuesday, October 3rd. KeyCorp reiterated a “buy” rating and issued a $42.00 price target on shares of Premier in a report on Wednesday, October 4th. Robert W. Baird reiterated a “buy” rating and issued a $35.00 price target on shares of Premier in a report on Friday, November 10th. SunTrust Banks cut their price target on shares of Premier to $36.00 and set a “buy” rating on the stock in a report on Friday, November 17th. Finally, Oppenheimer reiterated a “buy” rating and issued a $40.00 price target on shares of Premier in a report on Thursday, December 7th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company. Premier currently has an average rating of “Hold” and a consensus price target of $36.35.
In related news, COO Michael J. Alkire sold 25,000 shares of Premier stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $29.90, for a total value of $747,500.00. Following the sale, the chief operating officer now owns 180,550 shares in the company, valued at $5,398,445. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 17.52% of the company’s stock.
Premier, Inc is a healthcare improvement company. The Company is uniting an alliance of approximately 3,900 United States hospitals and health systems and approximately 150,000 other providers and 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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