Schwab Charles Investment Management Inc. grew its stake in Premier Inc (NASDAQ:PINC) by 28.1% during the fourth quarter, HoldingsChannel reports. The firm owned 232,929 shares of the company’s stock after purchasing an additional 51,052 shares during the period. Schwab Charles Investment Management Inc.’s holdings in Premier were worth $6,800,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of PINC. The Manufacturers Life Insurance Company lifted its holdings in Premier by 7.8% during the second 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 period. Stevens Capital Management LP lifted its holdings 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 during the period. Allianz Asset Management GmbH bought a new stake in Premier during the third quarter worth $316,000. Dynamic Technology Lab Private Ltd bought a new stake in Premier during the third quarter worth $450,000. Finally, Trexquant Investment LP bought a new stake in Premier during the third quarter worth $522,000. Institutional investors own 42.06% of the company’s stock.
A number of analysts recently commented on the company. BidaskClub upgraded Premier from a “strong sell” rating to a “sell” rating in a report on Thursday, January 11th. Zacks Investment Research upgraded Premier from a “hold” rating to a “buy” rating and set a $33.00 price target on the stock in a report on Wednesday, January 10th. Benchmark assumed coverage on Premier in a report on Thursday, February 8th. They set a “buy” rating and a $40.00 price target on the stock. Cowen assumed coverage on Premier in a report on Tuesday, February 13th. They set a “market perform” rating and a $35.00 price target on the stock. Finally, William Blair reiterated an “outperform” rating on shares of Premier in a report on Tuesday, February 6th. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $36.71.
Premier (NASDAQ:PINC) last issued its earnings results on Monday, February 5th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.02. The firm had revenue of $411.40 million for the quarter, compared to analyst estimates of $393.35 million. Premier had a negative return on equity of 19.94% and a net margin of 14.14%. The business’s revenue was up 14.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.46 earnings per share. equities research analysts predict that Premier Inc will post 2.11 EPS for the current year.
In other Premier news, CEO Susan D. Devore sold 40,000 shares of the business’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $32.47, for a total value of $1,298,800.00. Following the sale, the chief executive officer now directly owns 373,176 shares in the company, valued at $12,117,024.72. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Stephen R. D’arcy sold 3,967 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $31.72, for a total value of $125,833.24. Following the completion of the sale, the director now owns 11,233 shares in the company, valued at $356,310.76. The disclosure for this sale can be found here. Insiders own 17.52% of the company’s stock.
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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.
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