Reinhart Partners Inc. raised its stake in shares of Premier Inc (NASDAQ:PINC) by 40.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 272,510 shares of the company’s stock after acquiring an additional 77,928 shares during the period. Reinhart Partners Inc. owned about 0.22% of Premier worth $7,881,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Synovus Financial Corp raised its position in shares of Premier by 3.9% in the 3rd quarter. Synovus Financial Corp now owns 11,390 shares of the company’s stock worth $334,000 after acquiring an additional 426 shares in the last quarter. Rhumbline Advisers increased its position in shares of Premier by 1.2% during the third quarter. Rhumbline Advisers now owns 40,640 shares of the company’s stock valued at $1,175,000 after buying an additional 470 shares during the period. Strs Ohio increased its position in shares of Premier by 4.6% during the third quarter. Strs Ohio now owns 11,646 shares of the company’s stock valued at $336,000 after buying an additional 511 shares during the period. Brinker Capital Inc. increased its position in shares of Premier by 2.2% during the third quarter. Brinker Capital Inc. now owns 30,249 shares of the company’s stock valued at $875,000 after buying an additional 644 shares during the period. Finally, BB&T Securities LLC increased its position in shares of Premier by 10.6% during the second quarter. BB&T Securities LLC now owns 7,645 shares of the company’s stock valued at $299,000 after buying an additional 732 shares during the period. Institutional investors and hedge funds own 49.51% of the company’s stock.
PINC traded down $0.03 during trading on Friday, hitting $37.32. The stock had a trading volume of 760,300 shares, compared to its average volume of 712,371. The firm has a market cap of $4.61 billion, a PE ratio of 16.44, a P/E/G ratio of 1.50 and a beta of 0.34. Premier Inc has a 12 month low of $27.37 and a 12 month high of $42.00. The company has a 50 day simple moving average of $32.21 and a 200-day simple moving average of $36.12.
Premier (NASDAQ:PINC) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $0.68 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.02. The firm had revenue of $302.40 million for the quarter, compared to the consensus estimate of $295.50 million. Premier had a net margin of 17.74% and a negative return on equity of 40.78%. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.65 EPS. As a group, research analysts forecast that Premier Inc will post 2.66 EPS for the current year.
In other Premier news, SVP David Alfred Hargraves sold 2,015 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $35.05, for a total transaction of $70,625.75. Following the transaction, the senior vice president now owns 22,106 shares in the company, valued at approximately $774,815.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Craig S. Mckasson sold 2,287 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $37.00, for a total value of $84,619.00. Following the transaction, the chief financial officer now owns 117,058 shares in the company, valued at approximately $4,331,146. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,315 shares of company stock worth $416,586. 17.67% of the stock is owned by corporate insiders.
Several equities analysts have recently weighed in on PINC shares. Robert W. Baird set a $46.00 target price on Premier and gave the company a “buy” rating in a research report on Thursday, September 26th. UBS Group cut shares of Premier from a “buy” rating to a “neutral” rating and reduced their price target for the company from $44.00 to $38.00 in a research report on Thursday, October 31st. Zacks Investment Research cut shares of Premier from a “buy” rating to a “hold” rating in a research report on Wednesday. BidaskClub upgraded shares of Premier from a “sell” rating to a “hold” rating in a research report on Wednesday, October 23rd. Finally, Canaccord Genuity upgraded shares of Premier from a “hold” rating to a “buy” rating and set a $36.00 price target on the stock in a research report on Tuesday, October 15th. Nine research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $40.56.
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.
Read More: Bollinger Bands
Receive News & Ratings for Premier Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Premier and related companies with MarketBeat.com's FREE daily email newsletter.