Trexquant Investment LP Acquires New Holdings in Premier (PINC)

Trexquant Investment LP acquired a new stake in shares of Premier (NASDAQ:PINC) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 28,695 shares of the company’s stock, valued at approximately $898,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. APG Asset Management N.V. lifted its holdings in shares of Premier by 214.8% in the fourth quarter. APG Asset Management N.V. now owns 1,227,900 shares of the company’s stock worth $29,849,000 after buying an additional 837,800 shares in the last quarter. M&T Bank Corp purchased a new stake in shares of Premier in the fourth quarter worth about $1,187,000. Reinhart Partners Inc. lifted its holdings in shares of Premier by 54.3% in the fourth quarter. Reinhart Partners Inc. now owns 81,830 shares of the company’s stock worth $2,389,000 after buying an additional 28,810 shares in the last quarter. OppenheimerFunds Inc. purchased a new stake in shares of Premier in the fourth quarter worth about $13,520,000. Finally, Jefferies Group LLC lifted its holdings in shares of Premier by 101.4% in the fourth quarter. Jefferies Group LLC now owns 22,860 shares of the company’s stock worth $667,000 after buying an additional 11,509 shares in the last quarter. 43.48% of the stock is currently owned by institutional investors and hedge funds.

In related news, SVP Leigh Anderson sold 1,177 shares of the company’s stock in a transaction that occurred on Friday, March 23rd. The shares were sold at an average price of $31.85, for a total value of $37,487.45. Following the transaction, the senior vice president now directly owns 10,784 shares in the company, valued at $343,470.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Kelli L. Price sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 14th. The stock was sold at an average price of $34.33, for a total transaction of $137,320.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 51,427 shares of company stock worth $1,689,170. 17.52% of the stock is owned by company insiders.

Premier opened at $32.06 on Wednesday, Marketbeat.com reports. The company has a current ratio of 0.77, a quick ratio of 0.66 and a debt-to-equity ratio of -0.01. The company has a market capitalization of $4.37 billion, a P/E ratio of 19.91, a P/E/G ratio of 1.24 and a beta of 0.48. Premier has a 1-year low of $31.73 and a 1-year high of $32.08.

Premier (NASDAQ:PINC) last posted its quarterly earnings data on Monday, May 7th. The company reported $0.67 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.01. The company had revenue of $425.30 million for the quarter, compared to analysts’ expectations of $408.06 million. Premier had a net margin of 23.33% and a negative return on equity of 21.96%. Premier’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.52 earnings per share. sell-side analysts predict that Premier will post 2.1 earnings per share for the current year.

A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of Premier from a “buy” rating to a “hold” rating in a report on Saturday. Credit Suisse Group lowered their price target on shares of Premier from $42.00 to $38.00 and set an “outperform” rating on the stock in a report on Wednesday, May 9th. ValuEngine downgraded shares of Premier from a “hold” rating to a “sell” rating in a report on Tuesday, May 8th. BidaskClub raised shares of Premier from a “sell” rating to a “hold” rating in a report on Saturday, April 21st. Finally, Bank of America assumed coverage on shares of Premier in a report on Tuesday, February 27th. They issued a “buy” rating and a $39.00 price target on the stock. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $36.96.

Premier Profile

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.

Institutional Ownership by Quarter for Premier (NASDAQ:PINC)

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