CW Advisors LLC Grows Stake in Premier, Inc. $PINC

CW Advisors LLC raised its stake in shares of Premier, Inc. (NASDAQ:PINC) by 86.9% during the second quarter, HoldingsChannel reports. The firm owned 48,898 shares of the company’s stock after buying an additional 22,732 shares during the quarter. CW Advisors LLC’s holdings in Premier were worth $1,072,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Y Intercept Hong Kong Ltd purchased a new stake in Premier during the 2nd quarter valued at $464,000. Empowered Funds LLC increased its position in Premier by 2.5% during the first quarter. Empowered Funds LLC now owns 508,288 shares of the company’s stock valued at $9,800,000 after acquiring an additional 12,303 shares during the last quarter. Bank of New York Mellon Corp increased its position in Premier by 1.5% during the second quarter. Bank of New York Mellon Corp now owns 1,173,760 shares of the company’s stock valued at $25,741,000 after acquiring an additional 17,728 shares during the last quarter. Keystone Financial Services purchased a new stake in shares of Premier in the second quarter valued at $230,000. Finally, Voya Investment Management LLC lifted its holdings in shares of Premier by 17.5% in the 1st quarter. Voya Investment Management LLC now owns 70,397 shares of the company’s stock worth $1,357,000 after acquiring an additional 10,468 shares during the last quarter. 74.41% of the stock is owned by institutional investors.

Premier Price Performance

NASDAQ:PINC opened at $28.26 on Tuesday. Premier, Inc. has a 1-year low of $17.23 and a 1-year high of $28.79. The company has a 50-day moving average of $28.10 and a 200 day moving average of $25.21. The firm has a market cap of $2.33 billion, a PE ratio of -104.67 and a beta of 0.64.

Premier (NASDAQ:PINC) last posted its earnings results on Tuesday, January 14th. The company reported $0.67 EPS for the quarter. Premier had a negative net margin of 3.28% and a positive return on equity of 6.84%. The business had revenue of ($713.06) million for the quarter. Sell-side analysts anticipate that Premier, Inc. will post 1.13 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. UBS Group upped their price target on shares of Premier from $26.00 to $28.25 and gave the company a “neutral” rating in a report on Thursday, September 25th. Weiss Ratings restated a “hold (c-)” rating on shares of Premier in a research report on Wednesday, October 8th. Leerink Partners increased their price target on Premier from $24.00 to $26.00 and gave the stock a “market perform” rating in a report on Tuesday, August 19th. Bank of America raised their price target on Premier from $19.00 to $21.00 and gave the stock an “underperform” rating in a research note on Tuesday, August 19th. Finally, Canaccord Genuity Group upped their price objective on Premier from $25.00 to $28.25 and gave the company a “hold” rating in a research report on Tuesday, September 23rd. Six analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Premier currently has an average rating of “Reduce” and an average target price of $26.46.

Premier Profile

Premier, Inc, together with its subsidiaries, operates as a healthcare improvement company in the United States. It operates in two segments, Supply Chain Services and Performance Services. The Supply Chain Services segment offers its members with an 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 workforce solutions.