First Trust Advisors LP Increases Stake in Premier Inc (NASDAQ:PINC)

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First Trust Advisors LP grew its stake in Premier Inc (NASDAQ:PINC) by 917.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 293,341 shares of the company’s stock after buying an additional 264,501 shares during the quarter. First Trust Advisors LP’s holdings in Premier were worth $11,112,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in PINC. Evoke Wealth LLC purchased a new position in shares of Premier in the 3rd quarter valued at about $25,000. CWM LLC boosted its stake in shares of Premier by 160.3% in the 3rd quarter. CWM LLC now owns 1,244 shares of the company’s stock valued at $36,000 after buying an additional 766 shares during the period. Meeder Asset Management Inc. purchased a new position in shares of Premier in the 3rd quarter valued at about $52,000. Tower Research Capital LLC TRC boosted its stake in shares of Premier by 11.6% in the 3rd quarter. Tower Research Capital LLC TRC now owns 2,865 shares of the company’s stock valued at $83,000 after buying an additional 297 shares during the period. Finally, Quest Capital Management Inc. ADV purchased a new position in shares of Premier in the 3rd quarter valued at about $106,000. Institutional investors and hedge funds own 53.88% of the company’s stock.

Several equities analysts have recently issued reports on the company. Barclays reiterated a “buy” rating and issued a $44.00 price objective on shares of Premier in a research note on Sunday, January 19th. UBS Group cut Premier from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $44.00 to $38.00 in a research note on Thursday, October 31st. Robert W. Baird cut their target price on Premier from $41.00 to $36.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 5th. Evercore ISI reissued a “hold” rating on shares of Premier in a research report on Monday, November 11th. Finally, Benchmark reissued a “buy” rating and set a $43.00 target price (down previously from $46.00) on shares of Premier in a research report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $39.45.

In other Premier news, CFO Craig S. Mckasson sold 8,149 shares of Premier stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $37.01, for a total transaction of $301,594.49. Following the transaction, the chief financial officer now owns 120,200 shares of the company’s stock, valued at $4,448,602. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Craig S. Mckasson sold 1,985 shares of Premier stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $37.02, for a total value of $73,484.70. Following the transaction, the chief financial officer now directly owns 116,071 shares in the company, valued at approximately $4,296,948.42. The disclosure for this sale can be found here. Insiders have sold a total of 94,700 shares of company stock worth $3,555,484 in the last three months. Corporate insiders own 17.67% of the company’s stock.

Shares of NASDAQ PINC opened at $32.00 on Friday. Premier Inc has a fifty-two week low of $27.37 and a fifty-two week high of $40.13. The firm has a market capitalization of $3.90 billion, a PE ratio of -3.03, a price-to-earnings-growth ratio of 1.13 and a beta of 0.38. The stock’s 50-day simple moving average is $35.25 and its 200-day simple moving average is $35.57.

Premier (NASDAQ:PINC) last issued its earnings results on Tuesday, February 4th. The company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.06. Premier had a negative return on equity of 64.10% and a negative net margin of 21.22%. The business had revenue of $319.60 million for the quarter, compared to analyst estimates of $307.12 million. During the same quarter last year, the company earned $0.66 EPS. The business’s quarterly revenue was up 3.9% on a year-over-year basis. On average, sell-side analysts forecast that Premier Inc will post 2.68 earnings per share for the current year.

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.

See Also: Buy Rating

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Institutional Ownership by Quarter for Premier (NASDAQ:PINC)

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