UBS Asset Management Americas Inc. boosted its position in shares of Premier Inc. (NASDAQ:PINC) by 18.0% during the second quarter, Holdings Channel reports. The fund owned 35,382 shares of the company’s stock after buying an additional 5,409 shares during the period. UBS Asset Management Americas Inc. owned approximately 0.08% of Premier worth $1,157,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in the stock. Acrospire Investment Management LLC purchased a new position in Premier during the first quarter worth about $103,000. Meeder Asset Management Inc. purchased a new position in Premier during the second quarter worth about $105,000. BlackRock Inc. boosted its position in Premier by 282.9% in the first quarter. BlackRock Inc. now owns 4,786 shares of the company’s stock worth $160,000 after buying an additional 3,536 shares during the last quarter. Suntrust Banks Inc. purchased a new position in Premier during the second quarter worth about $238,000. Finally, Fox Run Management L.L.C. purchased a new position in Premier during the second quarter worth about $255,000. Hedge funds and other institutional investors own 99.13% of the company’s stock.
Premier Inc. (NASDAQ:PINC) opened at 32.08 on Friday. The company has a market cap of $1.52 billion, a P/E ratio of 24.07 and a beta of 0.54. The stock has a 50 day moving average of $31.76 and a 200 day moving average of $32.64. Premier Inc. has a 52 week low of $29.68 and a 52 week high of $37.00.
Premier (NASDAQ:PINC) last released its earnings results on Monday, August 22nd. The company reported $0.36 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by $0.02. The firm earned $301.40 million during the quarter. Premier had a negative return on equity of 8.33% and a net margin of 110.54%. The company’s revenue was up 13.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.36 EPS. On average, analysts expect that Premier Inc. will post $1.77 earnings per share for the current year.
A number of research firms have issued reports on PINC. Jefferies Group set a $40.00 price objective on shares of Premier and gave the company a “buy” rating in a research report on Monday, August 22nd. Citigroup Inc. boosted their price objective on shares of Premier from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday, August 23rd. Canaccord Genuity reiterated a “buy” rating and set a $40.00 price target on shares of Premier in a research report on Wednesday, June 29th. TheStreet upgraded shares of Premier from a “sell” rating to a “hold” rating in a research report on Wednesday, September 28th. Finally, Oppenheimer Holdings Inc. reiterated an “outperform” rating on shares of Premier in a research report on Tuesday, August 23rd. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $38.85.
In related news, VP R. Wesley Champion sold 7,108 shares of Premier stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $31.47, for a total transaction of $223,688.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Stephen R. D’arcy acquired 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 25th. The shares were bought at an average price of $30.91 per share, with a total value of $123,640.00. Following the acquisition, the director now directly owns 14,042 shares in the company, valued at $434,038.22. The disclosure for this purchase can be found here. 17.31% of the stock is currently owned by 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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