Envestnet Asset Management Inc. Trims Stake in Premier (PINC)

Envestnet Asset Management Inc. lessened its holdings in shares of Premier (NASDAQ:PINC) by 13.4% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,696 shares of the company’s stock after selling 2,573 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Premier were worth $487,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of PINC. The Manufacturers Life Insurance Company raised 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 acquiring an additional 315 shares in the last quarter. Amalgamated Bank raised its holdings in Premier by 17.5% in the fourth quarter. Amalgamated Bank now owns 10,970 shares of the company’s stock valued at $320,000 after acquiring an additional 1,631 shares in the last quarter. BB&T Securities LLC raised its holdings in Premier by 9.1% in the fourth quarter. BB&T Securities LLC now owns 25,606 shares of the company’s stock valued at $747,000 after acquiring an additional 2,130 shares in the last quarter. California Public Employees Retirement System raised its holdings in Premier by 2.5% in the fourth quarter. California Public Employees Retirement System now owns 113,854 shares of the company’s stock valued at $3,323,000 after acquiring an additional 2,743 shares in the last quarter. Finally, UBS Asset Management Americas Inc. raised its holdings in Premier by 10.3% in the fourth quarter. UBS Asset Management Americas Inc. now owns 40,228 shares of the company’s stock valued at $1,174,000 after acquiring an additional 3,756 shares in the last quarter. 42.93% of the stock is currently owned by institutional investors and hedge funds.

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Shares of Premier stock opened at $31.46 on Tuesday. The company has a market capitalization of $4,152.15, a price-to-earnings ratio of 19.54, a P/E/G ratio of 1.17 and a beta of 0.49. Premier has a 52 week low of $27.16 and a 52 week high of $36.50. The company has a debt-to-equity ratio of -0.01, a quick ratio of 0.71 and a current ratio of 0.83.

Premier (NASDAQ:PINC) last announced its quarterly earnings results on Monday, February 5th. The company reported $0.50 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.02. The company had revenue of $411.40 million for the quarter, compared to analyst estimates of $393.35 million. Premier had a net margin of 14.14% and a negative return on equity of 19.94%. The firm’s revenue was up 14.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.46 earnings per share. analysts anticipate that Premier will post 2.11 EPS for the current fiscal year.

Several brokerages recently weighed in on PINC. BidaskClub raised shares of Premier from a “strong sell” rating to a “sell” rating in a report on Thursday, January 11th. Zacks Investment Research raised shares of Premier from a “hold” rating to a “buy” rating and set a $33.00 target price on the stock in a report on Wednesday, January 10th. Benchmark began coverage on shares of Premier in a report on Thursday, February 8th. They issued a “buy” rating and a $40.00 target price on the stock. Cowen began coverage on shares of Premier in a report on Tuesday, February 13th. They issued a “market perform” rating and a $35.00 target price on the stock. Finally, SunTrust Banks reaffirmed a “buy” rating and issued a $38.00 target price on shares of Premier in a report on Thursday, February 8th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $36.71.

In other news, SVP Leigh Anderson sold 1,177 shares of the firm’s stock in a transaction that occurred on Friday, March 23rd. The shares were sold at an average price of $31.85, for a total transaction of $37,487.45. Following the transaction, the senior vice president now directly owns 10,784 shares in the company, valued at $343,470.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Stephen R. D’arcy sold 3,967 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $31.72, for a total transaction of $125,833.24. Following the transaction, the director now owns 11,233 shares in the company, valued at $356,310.76. The disclosure for this sale can be found here. Insiders sold 55,394 shares of company stock worth $1,815,003 over the last quarter. 17.52% of the stock is currently owned by 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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