BB&T Securities LLC boosted its position in Premier, Inc. (NASDAQ:PINC) by 83.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 23,476 shares of the company’s stock after acquiring an additional 10,664 shares during the period. BB&T Securities LLC’s holdings in Premier were worth $764,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Premier by 13.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,185 shares of the company’s stock worth $115,000 after acquiring an additional 384 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in Premier by 7.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,373 shares of the company’s stock worth $157,000 after acquiring an additional 315 shares during the last quarter. Advisors Asset Management Inc. grew its holdings in Premier by 1.6% in the 2nd quarter. Advisors Asset Management Inc. now owns 4,461 shares of the company’s stock worth $161,000 after acquiring an additional 72 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in Premier by 30.9% in the 2nd quarter. PNC Financial Services Group Inc. now owns 4,796 shares of the company’s stock worth $173,000 after acquiring an additional 1,132 shares during the last quarter. Finally, Pacer Advisors Inc. grew its holdings in Premier by 11.6% in the 2nd quarter. Pacer Advisors Inc. now owns 7,426 shares of the company’s stock worth $267,000 after acquiring an additional 774 shares during the last quarter. 38.31% of the stock is currently owned by institutional investors and hedge funds.
In other news, COO Michael J. Alkire sold 25,000 shares of Premier stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $29.90, for a total transaction of $747,500.00. Following the sale, the chief operating officer now owns 180,550 shares of the company’s stock, valued at approximately $5,398,445. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 17.52% of the company’s stock.
Shares of Premier, Inc. (NASDAQ PINC) opened at $29.78 on Friday. The firm has a market cap of $4,160.00, a PE ratio of 16.46, a PEG ratio of 1.31 and a beta of 0.40. Premier, Inc. has a 52 week low of $27.16 and a 52 week high of $36.50.
Premier (NASDAQ:PINC) last announced its earnings results on Monday, November 6th. The company reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.05). The company had revenue of $390.56 million for the quarter, compared to the consensus estimate of $389.56 million. Premier had a net margin of 17.99% and a negative return on equity of 18.31%. The company’s revenue for the quarter was up 24.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.41 EPS. equities analysts predict that Premier, Inc. will post 1.87 earnings per share for the current year.
A number of equities research analysts have issued reports on the stock. Oppenheimer reissued a “buy” rating and issued a $40.00 price target on shares of Premier in a report on Thursday. Piper Jaffray Companies reissued a “hold” rating on shares of Premier in a report on Tuesday, August 22nd. Zacks Investment Research raised shares of Premier from a “sell” rating to a “hold” rating in a report on Thursday, November 23rd. KeyCorp reaffirmed a “buy” rating and set a $42.00 target price on shares of Premier in a research note on Wednesday, October 4th. Finally, Robert W. Baird reaffirmed a “buy” rating and set a $35.00 target price on shares of Premier in a research note on Friday, November 10th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $38.38.
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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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