Premier Inc (PINC) Stake Decreased by Icon Advisers Inc. Co.

Icon Advisers Inc. Co. reduced its position in Premier Inc (NASDAQ:PINC) by 34.8% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 41,132 shares of the company’s stock after selling 22,000 shares during the period. Icon Advisers Inc. Co.’s holdings in Premier were worth $1,883,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in Premier in the 2nd quarter worth approximately $36,492,000. Massachusetts Financial Services Co. MA boosted its stake in Premier by 46.9% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,797,781 shares of the company’s stock worth $101,783,000 after purchasing an additional 893,451 shares in the last quarter. River Road Asset Management LLC boosted its stake in Premier by 63.2% in the 2nd quarter. River Road Asset Management LLC now owns 2,160,966 shares of the company’s stock worth $78,616,000 after purchasing an additional 836,502 shares in the last quarter. Laurion Capital Management LP acquired a new stake in Premier in the 2nd quarter worth approximately $20,373,000. Finally, Rice Hall James & Associates LLC boosted its stake in Premier by 32.3% in the 2nd quarter. Rice Hall James & Associates LLC now owns 1,650,914 shares of the company’s stock worth $60,060,000 after purchasing an additional 403,295 shares in the last quarter. Institutional investors and hedge funds own 42.26% of the company’s stock.

PINC opened at $41.50 on Friday. Premier Inc has a 12-month low of $27.16 and a 12-month high of $47.22. The company has a market cap of $5.51 billion, a price-to-earnings ratio of 59.29, a price-to-earnings-growth ratio of 1.41 and a beta of 0.55.

Premier (NASDAQ:PINC) last posted its quarterly earnings results on Tuesday, November 6th. The company reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.05. Premier had a net margin of 32.31% and a negative return on equity of 27.57%. The company had revenue of $401.60 million during the quarter, compared to analyst estimates of $412.79 million. During the same period last year, the firm posted $0.44 EPS. Premier’s revenue for the quarter was up 2.8% compared to the same quarter last year. As a group, equities analysts predict that Premier Inc will post 2.48 earnings per share for the current fiscal year.

A number of analysts recently commented on PINC shares. Leerink Swann set a $55.00 target price on shares of Premier and gave the stock a “buy” rating in a research note on Wednesday, August 22nd. Benchmark reiterated a “buy” rating and issued a $50.00 target price (up from $40.00) on shares of Premier in a research note on Wednesday, August 22nd. ValuEngine upgraded shares of Premier from a “hold” rating to a “buy” rating in a research note on Wednesday, August 22nd. BidaskClub cut shares of Premier from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 12th. Finally, Zacks Investment Research upgraded shares of Premier from a “hold” rating to a “buy” rating and set a $51.00 target price for the company in a research note on Wednesday, October 24th. Nine research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $41.68.

In other news, insider Leigh Anderson sold 1,923 shares of Premier stock in a transaction that occurred on Monday, September 17th. The shares were sold at an average price of $43.26, for a total transaction of $83,188.98. Following the completion of the transaction, the insider now directly owns 20,076 shares of the company’s stock, valued at approximately $868,487.76. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP David Alfred Hargraves sold 2,210 shares of Premier stock in a transaction that occurred on Tuesday, October 2nd. The shares were sold at an average price of $45.58, for a total transaction of $100,731.80. Following the transaction, the senior vice president now directly owns 11,108 shares of the company’s stock, valued at $506,302.64. The disclosure for this sale can be found here. Insiders have sold a total of 15,656 shares of company stock valued at $684,386 over the last three months. 18.30% of the stock is currently owned by insiders.

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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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