Xact Kapitalforvaltning AB acquired a new stake in Premier (NASDAQ:PINC) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 7,095 shares of the company’s stock, valued at approximately $207,000.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PINC. State of Alaska Department of Revenue purchased a new position in Premier in the fourth quarter valued at $124,000. The Manufacturers Life Insurance Company increased 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 buying an additional 315 shares in the last quarter. American Century Companies Inc. purchased a new position in Premier in the fourth quarter valued at $243,000. CIBC World Markets Inc. purchased a new position in Premier in the fourth quarter valued at $303,000. Finally, Allianz Asset Management GmbH purchased a new position in Premier in the third quarter valued at $316,000. 42.93% of the stock is owned by institutional investors.
A number of analysts have recently commented on the stock. Zacks Investment Research raised shares of Premier from a “hold” rating to a “buy” rating and set a $33.00 target price for the company in a research note on Wednesday, January 10th. Citigroup assumed coverage on shares of Premier in a research note on Thursday, January 4th. They set a “neutral” rating for the company. Cowen assumed coverage on shares of Premier in a research note on Tuesday, February 13th. They set a “market perform” rating and a $35.00 target price for the company. Evercore ISI assumed coverage on shares of Premier in a research note on Thursday, January 18th. They set an “in-line” rating and a $33.50 target price for the company. Finally, Bank of America assumed coverage on shares of Premier in a research note on Tuesday, February 27th. They set a “buy” rating and a $39.00 target price for the company. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company. Premier presently has an average rating of “Hold” and an average price target of $36.71.
PINC opened at $33.07 on Thursday. The stock has a market cap of $4,268.84, a P/E ratio of 20.54, a price-to-earnings-growth ratio of 1.20 and a beta of 0.49. Premier has a twelve month low of $27.16 and a twelve month high of $36.50. The company has a current ratio of 0.83, a quick ratio of 0.71 and a debt-to-equity ratio of -0.01.
Premier (NASDAQ:PINC) last posted its quarterly earnings results on Monday, February 5th. The company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. The firm 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%. Premier’s quarterly revenue was up 14.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.46 earnings per share. equities analysts predict that Premier will post 2.11 EPS for the current year.
Premier Company 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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