Copper Rock Capital Partners LLC purchased a new position in shares of Premier Inc. (NASDAQ:PINC) during the third quarter, Holdings Channel reports. The firm purchased 644,407 shares of the company’s stock, valued at approximately $20,441,000.
A number of other large investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of Premier by 4.3% in the second quarter. Vanguard Group Inc. now owns 3,289,991 shares of the company’s stock valued at $107,583,000 after buying an additional 136,186 shares in the last quarter. TimesSquare Capital Management LLC raised its stake in shares of Premier by 0.5% in the first quarter. TimesSquare Capital Management LLC now owns 2,652,100 shares of the company’s stock valued at $88,474,000 after buying an additional 14,100 shares in the last quarter. Neuberger Berman Group LLC raised its stake in shares of Premier by 5.3% in the second quarter. Neuberger Berman Group LLC now owns 2,304,717 shares of the company’s stock valued at $75,364,000 after buying an additional 116,567 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Premier by 9.0% in the second quarter. JPMorgan Chase & Co. now owns 1,825,283 shares of the company’s stock valued at $59,687,000 after buying an additional 150,044 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. acquired a new stake in shares of Premier during the second quarter valued at about $51,574,000. 99.13% of the stock is owned by institutional investors and hedge funds.
Premier Inc. (NASDAQ:PINC) opened at 31.61 on Friday. Premier Inc. has a 52 week low of $29.68 and a 52 week high of $37.24. The firm has a 50-day moving average price of $31.78 and a 200 day moving average price of $32.67. The company has a market cap of $1.50 billion, a P/E ratio of 23.71 and a beta of 0.54.
Premier (NASDAQ:PINC) last released its earnings results on Monday, August 22nd. The company reported $0.36 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by $0.02. Premier had a negative return on equity of 8.33% and a net margin of 110.54%. The company earned $301.40 million during the quarter. During the same quarter last year, the business earned $0.36 earnings per share. The company’s quarterly revenue was up 13.1% on a year-over-year basis. Analysts expect that Premier Inc. will post $1.77 EPS for the current fiscal year.
Several equities research analysts have recently issued reports on the company. TheStreet raised Premier from a “sell” rating to a “hold” rating in a research report on Wednesday, September 28th. Canaccord Genuity reaffirmed a “buy” rating and set a $40.00 target price on shares of Premier in a research report on Sunday, September 11th. SunTrust Banks Inc. decreased their target price on Premier from $40.00 to $38.00 and set a “buy” rating for the company in a research report on Monday, August 29th. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating on shares of Premier in a research report on Tuesday, August 23rd. Finally, Credit Suisse Group AG reaffirmed a “buy” rating and set a $39.00 target price on shares of Premier in a research report on Wednesday, August 24th. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Premier has a consensus rating of “Buy” and a consensus price target of $38.85.
In other Premier news, VP R. Wesley Champion sold 7,108 shares of the business’s stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $31.47, for a total value of $223,688.76. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Stephen R. D’arcy bought 4,000 shares of the company’s stock in a transaction on Thursday, August 25th. The stock was bought at an average cost of $30.91 per share, for a total transaction of $123,640.00. Following the completion of the acquisition, the director now directly owns 14,042 shares of the company’s stock, valued at approximately $434,038.22. The disclosure for this purchase can be found here. 17.31% of the stock is owned by company insiders.
Premier, Inc is a healthcare improvement company. The Company is uniting an alliance of approximately 3,600 United States hospitals and approximately 120,000 other providers 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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