Premier Inc (NASDAQ:PINC) Holdings Raised by Stone Ridge Asset Management LLC

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Stone Ridge Asset Management LLC lifted its stake in shares of Premier Inc (NASDAQ:PINC) by 10.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 69,037 shares of the company’s stock after purchasing an additional 6,500 shares during the quarter. Stone Ridge Asset Management LLC owned about 0.05% of Premier worth $2,700,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. JPMorgan Chase & Co. grew its holdings in Premier by 0.4% during the first quarter. JPMorgan Chase & Co. now owns 2,328,048 shares of the company’s stock worth $80,294,000 after acquiring an additional 9,080 shares during the period. Rice Hall James & Associates LLC grew its holdings in Premier by 1.8% during the first quarter. Rice Hall James & Associates LLC now owns 2,179,537 shares of the company’s stock worth $75,172,000 after acquiring an additional 38,104 shares during the period. River Road Asset Management LLC grew its holdings in Premier by 74.1% during the first quarter. River Road Asset Management LLC now owns 1,928,936 shares of the company’s stock worth $66,529,000 after acquiring an additional 821,033 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in Premier by 4.7% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,137,391 shares of the company’s stock worth $44,483,000 after acquiring an additional 51,488 shares during the period. Finally, Teacher Retirement System of Texas grew its holdings in Premier by 48.8% during the second quarter. Teacher Retirement System of Texas now owns 1,006,096 shares of the company’s stock worth $39,348,000 after acquiring an additional 329,900 shares during the period. Institutional investors and hedge funds own 50.26% of the company’s stock.

PINC traded down $0.86 during trading on Friday, reaching $36.92. The company had a trading volume of 337,214 shares, compared to its average volume of 430,908. The firm’s 50-day simple moving average is $39.13 and its 200 day simple moving average is $36.84. The company has a market cap of $4.77 billion, a price-to-earnings ratio of 16.26, a PEG ratio of 1.35 and a beta of 0.35. Premier Inc has a 12-month low of $31.31 and a 12-month high of $47.22.

Premier (NASDAQ:PINC) last issued its quarterly earnings results on Tuesday, August 20th. The company reported $0.57 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.61 by ($0.04). The company had revenue of $316.20 million during the quarter, compared to analysts’ expectations of $426.69 million. Premier had a negative return on equity of 27.85% and a net margin of 17.30%. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.70 EPS. Analysts anticipate that Premier Inc will post 2.64 earnings per share for the current fiscal year.

In other Premier news, Director William E. Mayer sold 4,000 shares of Premier stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $37.45, for a total transaction of $149,800.00. Following the transaction, the director now owns 13,763 shares of the company’s stock, valued at approximately $515,424.35. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP David Alfred Hargraves sold 1,037 shares of Premier stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $37.61, for a total value of $39,001.57. Following the transaction, the senior vice president now directly owns 10,024 shares in the company, valued at approximately $377,002.64. The disclosure for this sale can be found here. Company insiders own 18.30% of the company’s stock.

PINC has been the topic of a number of research analyst reports. BidaskClub lowered Premier from a “buy” rating to a “hold” rating in a report on Tuesday, August 20th. Canaccord Genuity set a $36.00 target price on Premier and gave the stock a “hold” rating in a report on Wednesday. Zacks Investment Research raised Premier from a “sell” rating to a “hold” rating in a report on Friday, August 16th. Guggenheim initiated coverage on Premier in a report on Tuesday, June 18th. They set a “neutral” rating and a $41.00 target price on the stock. Finally, Credit Suisse Group reaffirmed a “neutral” rating and set a $42.00 target price (down from $43.00) on shares of Premier in a report on Tuesday, August 13th. Eight investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $41.29.

Premier Company 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.

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Institutional Ownership by Quarter for Premier (NASDAQ:PINC)

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