Tiverton Asset Management LLC Has $354,000 Stock Position in Premier Inc (NASDAQ:PINC)

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Tiverton Asset Management LLC lowered its holdings in Premier Inc (NASDAQ:PINC) by 49.2% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 9,057 shares of the company’s stock after selling 8,761 shares during the period. Tiverton Asset Management LLC’s holdings in Premier were worth $354,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of PINC. Trexquant Investment LP acquired a new position in shares of Premier during the second quarter valued at about $579,000. Teacher Retirement System of Texas increased its stake in Premier by 136.2% during the first quarter. Teacher Retirement System of Texas now owns 676,196 shares of the company’s stock valued at $23,322,000 after acquiring an additional 389,971 shares during the period. SG Americas Securities LLC acquired a new position in Premier in the 2nd quarter valued at approximately $1,264,000. GAM Holding AG acquired a new position in Premier in the 1st quarter valued at approximately $1,498,000. Finally, CIBC Asset Management Inc acquired a new position in Premier in the 2nd quarter valued at approximately $204,000. 49.72% of the stock is currently owned by institutional investors.

NASDAQ:PINC traded up $0.28 during mid-day trading on Wednesday, hitting $35.20. The company’s stock had a trading volume of 13,042 shares, compared to its average volume of 540,801. The company has a market capitalization of $4.35 billion, a price-to-earnings ratio of 15.51, a P/E/G ratio of 1.23 and a beta of 0.33. Premier Inc has a fifty-two week low of $31.31 and a fifty-two week high of $47.22. The stock has a fifty day moving average of $37.76 and a 200-day moving average of $36.64.

Premier (NASDAQ:PINC) last released its quarterly earnings data on Tuesday, August 20th. The company reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.04). Premier had a net margin of 17.30% and a negative return on equity of 29.70%. The company had revenue of $316.20 million for the quarter, compared to analyst estimates of $426.69 million. During the same period in the previous year, the firm posted $0.70 earnings per share. The firm’s revenue for the quarter was up 1.2% compared to the same quarter last year. Sell-side analysts expect that Premier Inc will post 2.66 EPS for the current year.

Several brokerages have recently weighed in on PINC. Zacks Investment Research raised Premier from a “sell” rating to a “hold” rating in a report on Friday, August 16th. Canaccord Genuity set a $36.00 price objective on Premier and gave the company a “hold” rating in a research report on Wednesday, August 21st. Guggenheim began coverage on Premier in a research note on Tuesday, June 18th. They issued a “neutral” rating and a $41.00 target price for the company. Credit Suisse Group reaffirmed a “neutral” rating and issued a $42.00 target price (down from $43.00) on shares of Premier in a research report on Tuesday, August 13th. Finally, Piper Jaffray Companies reiterated a “hold” rating on shares of Premier in a research note on Thursday, August 22nd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the stock. Premier has a consensus rating of “Hold” and an average price target of $41.29.

In related news, SVP David Alfred Hargraves sold 2,015 shares of Premier stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $35.05, for a total transaction of $70,625.75. Following the completion of the transaction, the senior vice president now directly owns 22,106 shares of the company’s stock, valued at approximately $774,815.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Craig S. Mckasson sold 3,013 shares of Premier stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $37.02, for a total transaction of $111,541.26. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,065 shares of company stock worth $370,969. 18.30% of the stock is owned by insiders.

About Premier

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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