Dimensional Fund Advisors LP raised its stake in Premier, Inc. (NASDAQ:PINC) by 3.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 351,667 shares of the company’s stock after buying an additional 13,225 shares during the period. Dimensional Fund Advisors LP owned approximately 0.68% of Premier worth $12,660,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of PINC. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in 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 buying an additional 384 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Premier by 4.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,664 shares of the company’s stock worth $117,000 after purchasing an additional 149 shares in the last quarter. Advisors Asset Management Inc. increased its stake in shares of Premier by 1.6% during the 2nd quarter. Advisors Asset Management Inc. now owns 4,461 shares of the company’s stock worth $161,000 after purchasing an additional 72 shares in the last quarter. Pacer Advisors Inc. increased its stake in shares of Premier by 11.6% during the 2nd quarter. Pacer Advisors Inc. now owns 7,426 shares of the company’s stock worth $267,000 after purchasing an additional 774 shares in the last quarter. Finally, Suntrust Banks Inc. purchased a new position in shares of Premier during the 2nd quarter worth approximately $276,000. 38.22% of the stock is owned by institutional investors.
In related news, CEO Susan D. Devore sold 40,000 shares of Premier 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 transaction, the chief executive officer now owns 466,427 shares in the company, valued at approximately $15,270,819.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Michael J. Alkire sold 25,000 shares of Premier stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $33.26, for a total transaction of $831,500.00. Following the transaction, the chief operating officer now owns 209,164 shares in the company, valued at approximately $6,956,794.64. The disclosure for this sale can be found here. In the last quarter, insiders sold 92,264 shares of company stock worth $2,962,701. 17.52% of the stock is owned by company insiders.
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Premier, Inc. (NASDAQ PINC) opened at $28.19 on Wednesday. The firm has a market cap of $3,899.08, a price-to-earnings ratio of 15.61, a price-to-earnings-growth ratio of 1.25 and a beta of 0.46. Premier, Inc. has a 1-year low of $27.16 and a 1-year high of $36.50.
Premier (NASDAQ:PINC) last announced its quarterly earnings results on Monday, November 6th. The company reported $0.44 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.05). The company had revenue of $390.56 million during the quarter, compared to analyst estimates of $389.56 million. Premier had a net margin of 17.99% and a negative return on equity of 18.31%. The firm’s revenue for the quarter was up 24.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.41 EPS. research analysts expect that Premier, Inc. will post 1.87 earnings per share for the current year.
Premier declared that its board has authorized a stock buyback plan on Tuesday, October 31st that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.
Several analysts have commented on PINC shares. Robert W. Baird reaffirmed a “buy” rating and issued a $35.00 target price on shares of Premier in a research note on Friday, November 10th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $40.00 target price on shares of Premier in a research note on Wednesday, August 9th. Piper Jaffray Companies reaffirmed a “hold” rating on shares of Premier in a research note on Tuesday, August 22nd. Zacks Investment Research raised shares of Premier from a “sell” rating to a “hold” rating in a research note on Friday, August 18th. Finally, KeyCorp reaffirmed a “buy” rating and issued a $42.00 target price on shares of Premier in a research note on Wednesday, October 4th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the stock. Premier currently has a consensus rating of “Hold” and an average price target of $38.71.
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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