Creative Planning Takes Position in Premier Inc (NASDAQ:PINC)

Creative Planning purchased a new position in Premier Inc (NASDAQ:PINC) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 5,115 shares of the company’s stock, valued at approximately $234,000.

Several other institutional investors have also bought and sold shares of PINC. First Trust Advisors LP grew its stake in shares of Premier by 51.8% in the 3rd quarter. First Trust Advisors LP now owns 919,467 shares of the company’s stock worth $42,093,000 after purchasing an additional 313,837 shares during the last quarter. Seven Eight Capital LP grew its stake in shares of Premier by 12.7% in the 3rd quarter. Seven Eight Capital LP now owns 42,500 shares of the company’s stock worth $1,946,000 after purchasing an additional 4,800 shares during the last quarter. Highland Capital Management LLC grew its stake in shares of Premier by 25.9% in the 3rd quarter. Highland Capital Management LLC now owns 142,062 shares of the company’s stock worth $6,504,000 after purchasing an additional 29,212 shares during the last quarter. BB&T Corp grew its stake in shares of Premier by 7.5% in the 3rd quarter. BB&T Corp now owns 24,921 shares of the company’s stock worth $1,141,000 after purchasing an additional 1,729 shares during the last quarter. Finally, Fox Run Management L.L.C. acquired a new position in shares of Premier in the 3rd quarter worth approximately $269,000. Institutional investors own 41.63% of the company’s stock.

Shares of PINC stock traded up $0.50 during trading on Monday, hitting $40.16. 735,100 shares of the company were exchanged, compared to its average volume of 701,935. The stock has a market cap of $5.29 billion, a P/E ratio of 57.37, a P/E/G ratio of 1.38 and a beta of 0.51. Premier Inc has a twelve month low of $28.59 and a twelve month high of $47.22.

Premier (NASDAQ:PINC) last posted its quarterly earnings results on Tuesday, November 6th. The company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.60 by $0.05. The business had revenue of $401.60 million during the quarter, compared to analysts’ expectations of $412.79 million. Premier had a net margin of 32.31% and a negative return on equity of 23.61%. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period last year, the company posted $0.44 earnings per share. On average, analysts predict that Premier Inc will post 2.46 EPS for the current fiscal year.

Several brokerages have recently issued reports on PINC. Zacks Investment Research cut shares of Premier from a “hold” rating to a “sell” rating in a research note on Friday, August 24th. Raymond James lifted their price objective on shares of Premier from $37.00 to $49.00 and gave the stock an “in-line” rating in a research note on Wednesday, August 22nd. Canaccord Genuity downgraded shares of Premier from a “buy” rating to a “hold” rating and set a $43.00 target price on the stock. in a research report on Tuesday, August 14th. They noted that the move was a valuation call. Benchmark reissued a “buy” rating and issued a $50.00 target price (up from $40.00) on shares of Premier in a research report on Wednesday, August 22nd. Finally, Barclays began coverage on shares of Premier in a research report on Tuesday, September 25th. They issued an “overweight” rating on the stock. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $42.19.

In related news, insider Leigh Anderson sold 1,923 shares of the firm’s stock in a transaction that occurred on Monday, September 17th. The shares were sold at an average price of $43.26, for a total transaction of $83,188.98. Following the completion of the sale, the insider now directly owns 20,076 shares in the company, valued at $868,487.76. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP David Alfred Hargraves sold 2,210 shares of the firm’s stock in a transaction that occurred on Tuesday, October 2nd. The stock was sold at an average price of $45.58, for a total transaction of $100,731.80. Following the sale, the senior vice president now owns 11,108 shares of the company’s stock, valued at $506,302.64. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 12,656 shares of company stock valued at $531,524. 18.30% of the stock is currently owned by corporate insiders.

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Premier 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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Institutional Ownership by Quarter for Premier (NASDAQ:PINC)

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