Nordea Investment Management AB increased its position in Premier Inc (NASDAQ:PINC) by 2.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 104,894 shares of the company’s stock after acquiring an additional 2,041 shares during the period. Nordea Investment Management AB owned approximately 0.08% of Premier worth $3,618,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Royce & Associates LP lifted its position in shares of Premier by 48.6% in the first quarter. Royce & Associates LP now owns 1,388 shares of the company’s stock worth $48,000 after purchasing an additional 454 shares in the last quarter. Quadrant Capital Group LLC lifted its position in shares of Premier by 980.4% in the first quarter. Quadrant Capital Group LLC now owns 2,042 shares of the company’s stock worth $68,000 after purchasing an additional 1,853 shares in the last quarter. Cambria Investment Management L.P. purchased a new stake in shares of Premier in the first quarter worth approximately $131,000. Campbell & CO Investment Adviser LLC bought a new position in Premier during the first quarter valued at approximately $226,000. Finally, Virtu Financial LLC bought a new position in Premier during the first quarter valued at approximately $234,000. 48.29% of the stock is currently owned by institutional investors and hedge funds.
In other news, SVP David Alfred Hargraves sold 1,037 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $37.61, for a total transaction of $39,001.57. Following the sale, the senior vice president now owns 10,024 shares in the company, valued at approximately $377,002.64. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Craig S. Mckasson sold 50,000 shares of the stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $37.54, for a total value of $1,877,000.00. Following the completion of the sale, the chief financial officer now owns 135,709 shares in the company, valued at approximately $5,094,515.86. The disclosure for this sale can be found here. 18.30% of the stock is currently owned by insiders.
Premier (NASDAQ:PINC) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $0.66 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.05. The firm had revenue of $422.90 million during the quarter, compared to analysts’ expectations of $432.94 million. Premier had a negative return on equity of 27.23% and a net margin of 21.50%. The company’s quarterly revenue was down .6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.67 EPS. Equities analysts anticipate that Premier Inc will post 2.45 earnings per share for the current fiscal year.
Several brokerages recently weighed in on PINC. Zacks Investment Research lowered shares of ExlService from a “hold” rating to a “sell” rating in a research report on Wednesday, July 10th. Citigroup lowered shares of BCE from a “buy” rating to a “neutral” rating in a research report on Thursday, May 2nd. Leerink Swann lowered shares of Premier from an “outperform” rating to a “market perform” rating and set a $36.00 price target on the stock. in a research report on Wednesday, April 10th. Guggenheim lifted their price target on shares of Zillow Group from $45.00 to $50.00 in a research report on Tuesday, June 18th. Finally, Svb Leerink lowered shares of Premier from an “outperform” rating to a “market perform” rating in a research report on Wednesday, April 10th. Ten analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $43.45.
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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