California State Teachers Retirement System Decreases Holdings in Premier Inc (PINC)

California State Teachers Retirement System reduced its stake in Premier Inc (NASDAQ:PINC) by 9.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 84,428 shares of the company’s stock after selling 9,122 shares during the period. California State Teachers Retirement System owned 0.06% of Premier worth $2,750,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PINC. The Manufacturers Life Insurance Company raised its holdings in shares of Premier by 7.8% during the second quarter. The Manufacturers Life Insurance Company now owns 4,373 shares of the company’s stock valued at $157,000 after buying an additional 315 shares during the last quarter. People s United Financial Inc. raised its holdings in shares of Premier by 4.0% during the second quarter. People s United Financial Inc. now owns 9,728 shares of the company’s stock valued at $350,000 after buying an additional 372 shares during the last quarter. Voya Investment Management LLC raised its holdings in shares of Premier by 2.5% during the second quarter. Voya Investment Management LLC now owns 15,889 shares of the company’s stock valued at $572,000 after buying an additional 382 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Premier by 13.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,185 shares of the company’s stock valued at $115,000 after buying an additional 384 shares during the last quarter. Finally, Alliancebernstein L.P. raised its holdings in shares of Premier by 2.3% during the second quarter. Alliancebernstein L.P. now owns 32,057 shares of the company’s stock valued at $1,154,000 after buying an additional 708 shares during the last quarter. 38.37% of the stock is currently owned by institutional investors.

Shares of Premier Inc (PINC) opened at $31.82 on Friday. Premier Inc has a twelve month low of $27.16 and a twelve month high of $36.50. The company has a market capitalization of $4,360.00, a P/E ratio of -12.93, a P/E/G ratio of 1.33 and a beta of 0.40.

Premier (NASDAQ:PINC) last announced its earnings results on Monday, November 6th. The company reported $0.44 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.05). The firm had revenue of $390.56 million for the quarter, compared to the consensus estimate of $389.56 million. Premier had a negative return on equity of 18.31% and a net margin of 17.99%. Premier’s revenue for the quarter was up 24.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.41 EPS. sell-side analysts anticipate that Premier Inc will post 1.87 earnings per share for the current fiscal year.

PINC has been the topic of a number of recent analyst reports. Robert W. Baird reaffirmed a “buy” rating and set a $35.00 price target on shares of Premier in a report on Friday, November 10th. Oppenheimer reissued a “buy” rating and set a $40.00 target price on shares of Premier in a report on Thursday, December 7th. BidaskClub raised Premier from a “strong sell” rating to a “sell” rating in a report on Thursday. SunTrust Banks dropped their target price on Premier to $36.00 and set a “buy” rating on the stock in a report on Friday, November 17th. Finally, Zacks Investment Research raised Premier from a “sell” rating to a “hold” rating in a report on Thursday, November 23rd. Two analysts have rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $37.00.

In other Premier news, COO Michael J. Alkire sold 25,000 shares of Premier stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $29.90, for a total value of $747,500.00. Following the transaction, the chief operating officer now owns 180,550 shares in the company, valued at $5,398,445. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 17.52% of the company’s stock.

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Premier Company Profile

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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Institutional Ownership by Quarter for Premier (NASDAQ:PINC)

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