Premier Inc (NASDAQ:PINC) saw unusually-strong trading volume on Monday . Approximately 3,472,205 shares were traded during trading, an increase of 380% from the previous session’s volume of 722,893 shares.The stock last traded at $37.52 and had previously closed at $35.54.
PINC has been the topic of several research analyst reports. BidaskClub raised Premier from a “sell” rating to a “hold” rating in a research report on Wednesday, October 23rd. Piper Jaffray Companies reiterated a “hold” rating on shares of Premier in a research report on Thursday, August 22nd. Zacks Investment Research raised shares of Premier from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a research note on Tuesday. Credit Suisse Group reissued a “neutral” rating and set a $42.00 target price (down from $43.00) on shares of Premier in a research note on Tuesday, August 13th. Finally, ValuEngine upgraded shares of Premier from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Ten equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $40.22.
The firm has a fifty day simple moving average of $35.12 and a 200 day simple moving average of $36.31. The company has a market capitalization of $4.34 billion, a PE ratio of 17.04, a P/E/G ratio of 1.43 and a beta of 0.37.
Premier (NASDAQ:PINC) last issued its earnings results on Tuesday, November 5th. The company reported $0.68 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.02. Premier had a negative return on equity of 51.84% and a net margin of 17.74%. The business had revenue of $302.40 million during the quarter, compared to analysts’ expectations of $295.50 million. During the same period in the prior year, the business earned $0.65 EPS. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, analysts predict that Premier Inc will post 2.67 earnings per share for the current fiscal year.
In other news, CFO Craig S. Mckasson sold 1,985 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $37.02, for a total value of $73,484.70. Following the completion of the sale, the chief financial officer now owns 116,071 shares in the company, valued at approximately $4,296,948.42. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Craig S. Mckasson sold 84,366 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $37.61, for a total transaction of $3,173,005.26. Following the transaction, the chief financial officer now owns 166,284 shares in the company, valued at $6,253,941.24. The disclosure for this sale can be found here. Insiders sold 96,987 shares of company stock valued at $3,640,103 over the last 90 days. 17.67% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of the stock. Massachusetts Financial Services Co. MA raised its position in shares of Premier by 19.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 6,056,294 shares of the company’s stock worth $175,148,000 after acquiring an additional 979,096 shares in the last quarter. River Road Asset Management LLC lifted its stake in Premier by 10.2% during the 3rd quarter. River Road Asset Management LLC now owns 3,532,059 shares of the company’s stock valued at $102,147,000 after acquiring an additional 327,220 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Premier by 20.8% in the 2nd quarter. Renaissance Technologies LLC now owns 3,166,309 shares of the company’s stock valued at $123,834,000 after acquiring an additional 546,200 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Premier by 3.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,405,592 shares of the company’s stock valued at $94,251,000 after acquiring an additional 77,544 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its holdings in shares of Premier by 141.6% in the 2nd quarter. Mackenzie Financial Corp now owns 1,716,406 shares of the company’s stock valued at $67,129,000 after acquiring an additional 1,005,871 shares during the last quarter. 54.16% of the stock is currently owned by institutional investors.
About Premier (NASDAQ:PINC)
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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