Premier Inc (NASDAQ:PINC) Shares Sold by Patten Group Inc.

Patten Group Inc. trimmed its position in shares of Premier Inc (NASDAQ:PINC) by 11.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 59,785 shares of the company’s stock after selling 7,543 shares during the quarter. Patten Group Inc.’s holdings in Premier were worth $2,062,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Cutler Group LP boosted its stake in shares of Premier by 98.0% in the 4th quarter. Cutler Group LP now owns 792 shares of the company’s stock valued at $29,000 after buying an additional 392 shares during the period. Royce & Associates LP boosted its stake in shares of Premier by 48.6% in the 1st quarter. Royce & Associates LP now owns 1,388 shares of the company’s stock valued at $48,000 after buying an additional 454 shares during the period. California State Teachers Retirement System boosted its stake in shares of Premier by 0.8% in the 4th quarter. California State Teachers Retirement System now owns 84,179 shares of the company’s stock valued at $3,144,000 after buying an additional 658 shares during the period. Avalon Advisors LLC boosted its stake in shares of Premier by 1.2% in the 1st quarter. Avalon Advisors LLC now owns 84,676 shares of the company’s stock valued at $2,920,000 after buying an additional 1,021 shares during the period. Finally, New York State Common Retirement Fund boosted its stake in shares of Premier by 0.5% in the 4th quarter. New York State Common Retirement Fund now owns 226,254 shares of the company’s stock valued at $8,451,000 after buying an additional 1,100 shares during the period. Institutional investors own 49.14% of the company’s stock.

Shares of NASDAQ PINC traded down $0.02 during midday trading on Wednesday, hitting $37.49. 12,310 shares of the company’s stock were exchanged, compared to its average volume of 726,548. Premier Inc has a twelve month low of $31.31 and a twelve month high of $47.22. The firm has a market capitalization of $4.76 billion, a PE ratio of 53.47, a price-to-earnings-growth ratio of 1.36 and a beta of 0.31.

Premier (NASDAQ:PINC) last issued its earnings results on Tuesday, May 7th. The company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.05. Premier had a negative return on equity of 27.23% and a net margin of 21.50%. The business had revenue of $422.90 million for the quarter, compared to analyst estimates of $432.94 million. During the same quarter last year, the company earned $0.67 EPS. The business’s quarterly revenue was down .6% on a year-over-year basis. On average, sell-side analysts forecast that Premier Inc will post 2.45 earnings per share for the current year.

In other news, CFO Craig S. Mckasson sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $37.54, for a total transaction of $1,877,000.00. Following the sale, the chief financial officer now owns 135,709 shares of the company’s stock, valued at approximately $5,094,515.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 18.30% of the stock is currently owned by company insiders.

PINC has been the subject of several recent research reports. BidaskClub cut Premier from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 23rd. Citigroup upgraded Premier from a “neutral” rating to a “buy” rating and set a $45.00 price objective for the company in a research note on Thursday, May 2nd. Zacks Investment Research upgraded Premier from a “hold” rating to a “buy” rating and set a $42.00 price objective for the company in a research note on Wednesday. Svb Leerink cut Premier from an “outperform” rating to a “market perform” rating in a research note on Wednesday, April 10th. Finally, Leerink Swann cut Premier from an “outperform” rating to a “market perform” rating and set a $36.00 price objective for the company. in a research note on Wednesday, April 10th. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Premier has a consensus rating of “Hold” and an average target price of $43.50.

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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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