Goldman Sachs Group Inc. increased its stake in Premier, Inc. (NASDAQ:PINC) by 40.2% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 852,582 shares of the company’s stock after purchasing an additional 244,360 shares during the quarter. Goldman Sachs Group Inc. owned about 1.65% of Premier worth $30,693,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in PINC. Zurcher Kantonalbank Zurich Cantonalbank grew its position 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 valued at $115,000 after purchasing an additional 384 shares in the last quarter. PNC Financial Services Group Inc. grew its position in shares of Premier by 4.2% in the first quarter. PNC Financial Services Group Inc. now owns 3,664 shares of the company’s stock valued at $117,000 after purchasing an additional 149 shares in the last quarter. Advisors Asset Management Inc. grew its position in shares of Premier by 1.6% in the second quarter. Advisors Asset Management Inc. now owns 4,461 shares of the company’s stock valued at $161,000 after purchasing an additional 72 shares in the last quarter. Pacer Advisors Inc. grew its position in shares of Premier by 13.5% in the first quarter. Pacer Advisors Inc. now owns 6,652 shares of the company’s stock valued at $212,000 after purchasing an additional 791 shares in the last quarter. Finally, Suntrust Banks Inc. purchased a new position in shares of Premier in the second quarter valued at $276,000. Institutional investors own 37.75% of the company’s stock.
Premier, Inc. (PINC) opened at 33.88 on Wednesday. The company’s 50-day moving average price is $33.09 and its 200 day moving average price is $33.97. Premier, Inc. has a 52-week low of $28.27 and a 52-week high of $36.50. The stock has a market capitalization of $1.80 billion, a PE ratio of 22.44 and a beta of 0.46.
Premier (NASDAQ:PINC) last posted its quarterly earnings results on Monday, August 21st. The company reported $0.50 EPS for the quarter, missing the Zacks’ consensus estimate of $0.52 by ($0.02). The business had revenue of $403.10 million for the quarter, compared to the consensus estimate of $400.45 million. Premier had a net margin of 0.66% and a negative return on equity of 16.27%. Premier’s revenue was up 33.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.36 earnings per share. Equities analysts forecast that Premier, Inc. will post $2.04 EPS for the current fiscal year.
In other news, insider Craig S. Mckasson sold 10,750 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $33.55, for a total transaction of $360,662.50. Following the completion of the transaction, the insider now owns 88,688 shares in the company, valued at $2,975,482.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Susan D. Devore sold 40,000 shares of the firm’s stock in a transaction dated Tuesday, August 29th. The shares were sold at an average price of $32.74, for a total value of $1,309,600.00. Following the transaction, the chief executive officer now 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. Over the last three months, insiders have sold 78,014 shares of company stock worth $2,575,863. Insiders own 17.14% of the company’s stock.
Several equities analysts have recently weighed in on PINC shares. Zacks Investment Research cut Premier from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. BidaskClub cut Premier from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Jefferies Group LLC reiterated a “buy” rating and issued a $40.00 price target on shares of Premier in a research report on Wednesday, August 9th. William Blair reiterated an “ourperform” rating on shares of Premier in a research report on Tuesday, August 22nd. Finally, Piper Jaffray Companies reiterated a “hold” rating on shares of Premier in a research report on Tuesday, August 22nd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $39.29.
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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