BlackRock Inc. boosted its position in Premier Inc (NASDAQ:PINC) by 5.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,501,972 shares of the company’s stock after acquiring an additional 137,075 shares during the period. BlackRock Inc. owned 1.88% of Premier worth $93,451,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Csenge Advisory Group acquired a new stake in Premier in the 3rd quarter valued at approximately $25,000. Cutler Group LP increased its position in shares of Premier by 98.0% during the 4th quarter. Cutler Group LP now owns 792 shares of the company’s stock worth $29,000 after purchasing an additional 392 shares during the last quarter. CENTRAL TRUST Co increased its position in shares of Premier by 15.4% during the 4th quarter. CENTRAL TRUST Co now owns 3,775 shares of the company’s stock worth $141,000 after purchasing an additional 505 shares during the last quarter. LPL Financial LLC acquired a new position in shares of Premier during the 3rd quarter worth approximately $203,000. Finally, Ibex Investors LLC acquired a new position in shares of Premier during the 3rd quarter worth approximately $215,000. Institutional investors and hedge funds own 48.15% of the company’s stock.
In other Premier news, Director Stephen R. D’arcy sold 3,733 shares of the company’s stock in a transaction dated Friday, February 8th. The stock was sold at an average price of $36.90, for a total value of $137,747.70. Following the sale, the director now owns 10,676 shares in the company, valued at approximately $393,944.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Craig S. Mckasson sold 50,000 shares of the company’s stock in a transaction dated Friday, February 15th. The shares were sold at an average price of $37.55, for a total value of $1,877,500.00. Following the completion of the sale, the insider now owns 135,709 shares in the company, valued at approximately $5,095,872.95. The disclosure for this sale can be found here. 18.30% of the stock is owned by corporate insiders.
Premier (NASDAQ:PINC) last issued its earnings results on Tuesday, February 5th. The company reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.08. Premier had a negative return on equity of 25.06% and a net margin of 21.63%. The business had revenue of $421.86 million during the quarter, compared to analysts’ expectations of $417.09 million. During the same quarter in the prior year, the firm earned $0.50 EPS. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. As a group, research analysts anticipate that Premier Inc will post 2.43 earnings per share for the current year.
Several research firms have weighed in on PINC. Zacks Investment Research raised Premier from a “sell” rating to a “hold” rating in a research report on Thursday. Svb Leerink downgraded Premier from an “outperform” rating to a “market perform” rating in a research note on Wednesday, April 10th. Leerink Swann downgraded Premier from an “outperform” rating to a “market perform” rating and set a $36.00 target price for the company. in a research note on Wednesday, April 10th. BidaskClub downgraded Premier from a “hold” rating to a “sell” rating in a research note on Saturday, March 30th. Finally, ValuEngine downgraded Premier from a “buy” rating to a “hold” rating in a research note on Thursday, February 7th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $43.70.
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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