APG Asset Management N.V. Acquires New Stake in Premier, Inc. (PINC)

APG Asset Management N.V. acquired a new stake in shares of Premier, Inc. (NASDAQ:PINC) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 390,100 shares of the company’s stock, valued at approximately $12,706,000. APG Asset Management N.V. owned about 0.73% of Premier as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the company. Meeder Asset Management Inc. lifted its position in shares of Premier by 38.3% during the 3rd quarter. Meeder Asset Management Inc. now owns 54,586 shares of the company’s stock valued at $1,778,000 after acquiring an additional 15,117 shares during the last quarter. Burgundy Asset Management Ltd. lifted its position in shares of Premier by 2.3% during the 2nd quarter. Burgundy Asset Management Ltd. now owns 316,600 shares of the company’s stock valued at $11,398,000 after acquiring an additional 7,020 shares during the last quarter. Public Employees Retirement System of Ohio lifted its position in shares of Premier by 32.7% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 20,554 shares of the company’s stock valued at $740,000 after acquiring an additional 5,070 shares during the last quarter. Verition Fund Management LLC lifted its position in shares of Premier by 46.4% during the 2nd quarter. Verition Fund Management LLC now owns 15,002 shares of the company’s stock valued at $540,000 after acquiring an additional 4,753 shares during the last quarter. Finally, Seminole Management Co. Inc. acquired a new stake in shares of Premier during the 2nd quarter valued at $432,000. Institutional investors own 38.37% of the company’s stock.

In other news, CEO Susan D. Devore sold 40,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $32.74, for a total value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Craig S. Mckasson sold 10,750 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $33.55, for a total value of $360,662.50. Following the completion of the sale, the insider now directly owns 88,688 shares of the company’s stock, valued at $2,975,482.40. 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 over the last three months. Insiders own 17.52% of the company’s stock.

Premier (NASDAQ:PINC) last posted its quarterly earnings results on Monday, August 21st. The company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.02). The business had revenue of $403.10 million during the quarter, compared to analyst estimates of $400.45 million. Premier had a net margin of 0.66% and a negative return on equity of 16.27%. The firm’s quarterly 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.

Premier announced that its board has approved a stock repurchase plan on Tuesday, October 31st that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

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A number of equities research analysts have recently commented on the company. Jefferies Group LLC reiterated a “buy” rating and set a $40.00 price objective on shares of Premier in a research report on Wednesday, August 9th. Piper Jaffray Companies reiterated a “hold” rating on shares of Premier in a research report on Tuesday, August 22nd. Zacks Investment Research downgraded Premier from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. KeyCorp reiterated a “buy” rating and set a $42.00 price objective on shares of Premier in a research report on Wednesday, October 4th. Finally, BidaskClub downgraded Premier from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company. Premier has a consensus rating of “Hold” and a consensus target price of $39.29.

Premier Company Profile

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.

Institutional Ownership by Quarter for Premier (NASDAQ:PINC)

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