Engineers Gate Manager LP acquired a new position in shares of Premier Inc (NASDAQ:PINC) in the third quarter, Holdings Channel reports. The institutional investor acquired 8,800 shares of the company’s stock, valued at approximately $403,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. CENTRAL TRUST Co grew its holdings in shares of Premier by 195.9% in the third quarter. CENTRAL TRUST Co now owns 3,270 shares of the company’s stock valued at $150,000 after acquiring an additional 2,165 shares in the last quarter. Fort L.P. bought a new position in shares of Premier in the second quarter valued at approximately $123,000. PNC Financial Services Group Inc. grew its holdings in shares of Premier by 41.5% in the second quarter. PNC Financial Services Group Inc. now owns 5,034 shares of the company’s stock valued at $184,000 after acquiring an additional 1,477 shares in the last quarter. Creative Planning bought a new position in shares of Premier in the third quarter valued at approximately $234,000. Finally, Parametrica Management Ltd bought a new position in shares of Premier in the second quarter valued at approximately $203,000. 41.82% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ PINC opened at $39.86 on Friday. Premier Inc has a 1-year low of $27.70 and a 1-year high of $47.22. The firm has a market cap of $5.38 billion, a price-to-earnings ratio of 56.94, a PEG ratio of 1.41 and a beta of 0.55.

Premier (NASDAQ:PINC) last announced its quarterly earnings data on Tuesday, November 6th. The company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.05. The business had revenue of $401.60 million during the quarter, compared to analyst estimates of $412.79 million. Premier had a negative return on equity of 23.61% and a net margin of 32.31%. Premier’s revenue was up 2.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.44 earnings per share. On average, equities research analysts predict that Premier Inc will post 2.46 EPS for the current year.

Several equities analysts have recently issued reports on PINC shares. Leerink Swann set a $55.00 target price on Premier and gave the company a “buy” rating in a report on Wednesday, August 22nd. Benchmark reaffirmed a “buy” rating and issued a $50.00 target price (up from $40.00) on shares of Premier in a report on Wednesday, August 22nd. ValuEngine raised Premier from a “hold” rating to a “buy” rating in a report on Wednesday, August 22nd. Zacks Investment Research raised Premier from a “hold” rating to a “buy” rating and set a $51.00 price objective for the company in a report on Wednesday, October 24th. Finally, Canaccord Genuity lowered Premier from a “buy” rating to a “hold” rating and set a $43.00 price objective for the company. in a report on Tuesday, August 14th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $42.19.

In other Premier news, SVP David Alfred Hargraves sold 2,210 shares of the company’s stock in a transaction dated Tuesday, October 2nd. The shares were sold at an average price of $45.58, for a total value of $100,731.80. Following the transaction, the senior vice president now directly owns 11,108 shares in the company, valued at approximately $506,302.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Craig S. Mckasson sold 6,250 shares of the company’s stock in a transaction dated Friday, August 24th. The stock was sold at an average price of $43.09, for a total transaction of $269,312.50. Following the completion of the transaction, the chief financial officer now owns 90,184 shares in the company, valued at $3,886,028.56. 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 90 days. Insiders own 18.30% of the company’s stock.

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About Premier

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.

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Institutional Ownership by Quarter for Premier (NASDAQ:PINC)

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