Jennison Associates LLC Purchases 211,079 Shares of Premier, Inc. (PINC)

Jennison Associates LLC lifted its position in Premier, Inc. (NASDAQ:PINC) by 29.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 923,183 shares of the company’s stock after purchasing an additional 211,079 shares during the quarter. Jennison Associates LLC owned 0.66% of Premier worth $30,068,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Trillium Asset Management LLC acquired a new position in shares of Premier in the third quarter valued at $1,907,000. Stevens Capital Management LP raised its stake in Premier by 25.5% during the third quarter. Stevens Capital Management LP now owns 9,601 shares of the company’s stock worth $313,000 after acquiring an additional 1,951 shares in the last quarter. Parametrica Management Ltd acquired a new position in Premier during the third quarter worth $480,000. First Quadrant L P CA raised its stake in Premier by 50,808.6% during the third quarter. First Quadrant L P CA now owns 194,471 shares of the company’s stock worth $6,334,000 after acquiring an additional 194,089 shares in the last quarter. Finally, First Trust Advisors LP raised its stake in Premier by 130.2% during the third quarter. First Trust Advisors LP now owns 658,789 shares of the company’s stock worth $21,457,000 after acquiring an additional 372,650 shares in the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Shares of Premier, Inc. (PINC) opened at $27.97 on Thursday. Premier, Inc. has a 12 month low of $27.16 and a 12 month high of $36.50. The firm has a market capitalization of $3,933.97, a price-to-earnings ratio of 15.75, a PEG ratio of 1.26 and a beta of 0.46.

Premier (NASDAQ:PINC) last announced its 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 business 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 business’s quarterly revenue was up 24.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.41 earnings per share. equities research analysts forecast that Premier, Inc. will post 1.87 EPS for the current fiscal year.

Premier declared that its board has initiated a stock repurchase plan on Tuesday, October 31st that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

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PINC has been the subject of several recent analyst reports. Zacks Investment Research upgraded Premier from a “sell” rating to a “hold” rating in a research note on Tuesday, September 5th. BidaskClub lowered Premier from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 23rd. William Blair reiterated an “ourperform” rating on shares of Premier in a research note on Tuesday, August 22nd. KeyCorp reiterated a “buy” rating and set a $42.00 price objective on shares of Premier in a research note on Wednesday, October 4th. Finally, Piper Jaffray Companies reiterated a “hold” rating on shares of Premier in a research note on Tuesday, August 22nd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $38.71.

In related news, COO Michael J. Alkire sold 25,000 shares of the firm’s stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $29.90, for a total value of $747,500.00. Following the transaction, the chief operating officer now owns 180,550 shares in the company, valued at $5,398,445. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 completion of the transaction, the chief executive officer now owns 466,427 shares in the company, valued at approximately $15,270,819.98. 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.

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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