BlueCrest Capital Management Ltd acquired a new position in Premier Inc (NASDAQ:PINC) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 49,723 shares of the company’s stock, valued at approximately $1,451,000.
A number of other institutional investors have also bought and sold shares of PINC. Dimensional Fund Advisors LP boosted its stake in Premier by 3.9% in the second quarter. Dimensional Fund Advisors LP now owns 351,667 shares of the company’s stock worth $12,660,000 after purchasing an additional 13,225 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in Premier by 7.8% in the second quarter. The Manufacturers Life Insurance Company now owns 4,373 shares of the company’s stock worth $157,000 after purchasing an additional 315 shares in the last quarter. Stevens Capital Management LP boosted its stake in Premier by 25.5% in the third quarter. Stevens Capital Management LP now owns 9,601 shares of the company’s stock worth $313,000 after purchasing an additional 1,951 shares in the last quarter. Jennison Associates LLC boosted its stake in Premier by 29.6% in the third quarter. Jennison Associates LLC now owns 923,183 shares of the company’s stock worth $30,068,000 after purchasing an additional 211,079 shares in the last quarter. Finally, BNP Paribas Arbitrage SA boosted its stake in Premier by 5.7% in the third quarter. BNP Paribas Arbitrage SA now owns 37,935 shares of the company’s stock worth $1,236,000 after purchasing an additional 2,048 shares in the last quarter. 42.91% of the stock is currently owned by institutional investors.
In other Premier news, CEO Susan D. Devore sold 40,000 shares of the stock in a transaction dated 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 transaction, the chief executive officer now owns 373,176 shares of the company’s stock, valued at $12,117,024.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Stephen R. D’arcy sold 3,967 shares of the stock in a transaction dated 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 transaction, the director now directly owns 11,233 shares in the company, valued at approximately $356,310.76. The disclosure for this sale can be found here. Corporate insiders own 17.52% of the company’s stock.
Premier (NASDAQ:PINC) last issued its quarterly earnings results on Monday, February 5th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.02. Premier had a negative return on equity of 19.94% and a net margin of 14.14%. The business had revenue of $411.40 million for the quarter, compared to analyst estimates of $393.35 million. During the same quarter in the prior year, the firm posted $0.46 earnings per share. The firm’s revenue for the quarter was up 14.8% compared to the same quarter last year. analysts forecast that Premier Inc will post 2.11 EPS for the current fiscal year.
A number of research firms have commented on PINC. Bank of America began coverage on Premier in a research note on Tuesday, February 27th. They issued a “buy” rating and a $39.00 price objective on the stock. BidaskClub raised Premier from a “sell” rating to a “hold” rating in a research note on Tuesday, January 23rd. Piper Jaffray Companies reaffirmed a “hold” rating on shares of Premier in a research note on Wednesday, February 7th. SunTrust Banks reaffirmed a “buy” rating and set a $38.00 price target on shares of Premier in a research note on Thursday, February 8th. Finally, Evercore ISI initiated coverage on Premier in a research note on Thursday, January 18th. They set an “in-line” rating and a $33.50 price target on the stock. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Premier presently has a consensus rating of “Buy” and a consensus target price of $36.71.
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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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