Clearbridge Investments LLC cut its holdings in shares of Premier Inc (NASDAQ:PINC) by 0.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,968,175 shares of the company’s stock after selling 7,914 shares during the quarter. Clearbridge Investments LLC owned 1.45% of Premier worth $57,451,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. State of Alaska Department of Revenue purchased a new position in Premier during the 4th quarter worth approximately $124,000. The Manufacturers Life Insurance Company raised its position in Premier by 7.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,373 shares of the company’s stock worth $157,000 after buying an additional 315 shares during the last quarter. American Century Companies Inc. purchased a new position in shares of Premier during the 4th quarter valued at approximately $243,000. CIBC World Markets Inc. purchased a new position in shares of Premier during the 4th quarter valued at approximately $303,000. Finally, Stevens Capital Management LP increased its holdings in shares of Premier by 25.5% during the 3rd quarter. Stevens Capital Management LP now owns 9,601 shares of the company’s stock valued at $313,000 after purchasing an additional 1,951 shares in the last quarter. 42.91% of the stock is owned by institutional investors.
In related news, CEO Susan D. Devore sold 40,000 shares of Premier stock in a transaction on Monday, February 26th. The shares were 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 owns 373,176 shares of the company’s stock, valued at approximately $12,117,024.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Craig S. Mckasson sold 6,250 shares of Premier stock in a transaction on Monday, March 12th. The shares were sold at an average price of $34.49, for a total transaction of $215,562.50. The disclosure for this sale can be found here. Insiders sold a total of 50,217 shares of company stock worth $1,640,196 in the last three months. 17.52% of the stock is owned by corporate insiders.
Premier (NASDAQ:PINC) last released its quarterly earnings results on Monday, February 5th. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. Premier had a net margin of 14.14% and a negative return on equity of 19.94%. The firm had revenue of $411.40 million for the quarter, compared to analysts’ expectations of $393.35 million. During the same quarter last year, the company earned $0.46 EPS. The firm’s revenue for the quarter was up 14.8% compared to the same quarter last year. equities analysts expect that Premier Inc will post 2.11 earnings per share for the current fiscal year.
Several equities analysts have recently weighed in on the stock. BidaskClub raised shares of Premier from a “strong sell” rating to a “sell” rating in a report on Thursday, January 11th. Zacks Investment Research raised shares of Premier from a “hold” rating to a “buy” rating and set a $33.00 target price for the company in a report on Wednesday, January 10th. Benchmark assumed coverage on shares of Premier in a report on Thursday, February 8th. They set a “buy” rating and a $40.00 target price for the company. Cowen assumed coverage on shares of Premier in a report on Tuesday, February 13th. They set a “market perform” rating and a $35.00 target price for the company. Finally, William Blair reaffirmed an “outperform” rating on shares of Premier in a report on Tuesday, February 6th. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $36.71.
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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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