Nordea Investment Management AB boosted its stake in shares of Premier Inc (NASDAQ:PINC) by 18.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 65,734 shares of the company’s stock after acquiring an additional 10,182 shares during the quarter. Nordea Investment Management AB’s holdings in Premier were worth $2,141,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in the stock. Alps Advisors Inc. grew its holdings in Premier by 0.3% in the second quarter. Alps Advisors Inc. now owns 15,462 shares of the company’s stock valued at $557,000 after purchasing an additional 40 shares during the period. Advisors Asset Management Inc. grew its holdings in Premier by 1.6% in the second quarter. Advisors Asset Management Inc. now owns 4,461 shares of the company’s stock valued at $161,000 after purchasing an additional 72 shares during the period. The Manufacturers Life Insurance Company grew its holdings in Premier by 7.8% in the second quarter. The Manufacturers Life Insurance Company now owns 4,373 shares of the company’s stock valued at $157,000 after purchasing an additional 315 shares during the period. People s United Financial Inc. grew its holdings in Premier by 4.0% in the second quarter. People s United Financial Inc. now owns 9,728 shares of the company’s stock valued at $350,000 after purchasing an additional 372 shares during the period. Finally, Voya Investment Management LLC grew its holdings in Premier by 2.5% in the second quarter. Voya Investment Management LLC now owns 15,889 shares of the company’s stock valued at $572,000 after purchasing an additional 382 shares during the period. Institutional investors own 38.37% of the company’s stock.
Several brokerages have commented on PINC. KeyCorp reissued a “buy” rating and issued a $42.00 price objective on shares of Premier in a report on Wednesday, October 4th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $30.00 price objective on shares of Premier in a report on Tuesday, December 19th. Zacks Investment Research raised Premier from a “sell” rating to a “hold” rating in a report on Tuesday, October 3rd. SunTrust Banks dropped their price objective on Premier to $36.00 and set a “buy” rating on the stock in a report on Friday, November 17th. Finally, Oppenheimer reissued a “buy” rating and issued a $40.00 price objective on shares of Premier in a report on Thursday, December 7th. Two analysts have rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $37.44.
Premier (NASDAQ:PINC) last issued its quarterly earnings results on Monday, November 6th. The company reported $0.44 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.05). The firm had revenue of $390.56 million during the quarter, compared to analyst estimates of $389.56 million. Premier had a negative return on equity of 18.31% and a net margin of 17.99%. The business’s revenue was up 24.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.41 earnings per share. research analysts forecast that Premier Inc will post 1.87 earnings per share for the current year.
In other news, COO Michael J. Alkire sold 25,000 shares of Premier stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $29.90, for a total value of $747,500.00. Following the sale, the chief operating officer now directly owns 180,550 shares of the company’s stock, valued at $5,398,445. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 17.52% of the company’s stock.
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Premier, Inc is a healthcare improvement company. The Company is uniting an alliance of approximately 3,900 United States hospitals and health systems and approximately 150,000 other providers and organizations to transform healthcare. The Company operates healthcare group purchasing organizations and also provides integrated data and analytics, supply chain solutions, advisory services, performance improvement collaborative and other services.
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