Principal Financial Group Inc. reduced its position in Premier, Inc. (NASDAQ:PINC) by 7.2% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 11,663 shares of the company’s stock after selling 906 shares during the period. Principal Financial Group Inc.’s holdings in Premier were worth $420,000 as of its most recent filing with the SEC.
A number of other large investors have also recently modified their holdings of PINC. Marshall Wace North America L.P. lifted its position in Premier by 69.8% during the second quarter. Marshall Wace North America L.P. now owns 57,206 shares of the company’s stock worth $2,059,000 after acquiring an additional 23,511 shares during the last quarter. Ameriprise Financial Inc. acquired a new stake in Premier during the first quarter worth approximately $4,750,000. Massachusetts Financial Services Co. MA lifted its position in Premier by 80.0% during the first quarter. Massachusetts Financial Services Co. MA now owns 321,215 shares of the company’s stock worth $10,224,000 after acquiring an additional 142,741 shares during the last quarter. Wells Fargo & Company MN lifted its position in Premier by 1.1% during the first quarter. Wells Fargo & Company MN now owns 65,880 shares of the company’s stock worth $2,096,000 after acquiring an additional 747 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in Premier by 7.9% during the first quarter. Vanguard Group Inc. now owns 4,045,361 shares of the company’s stock worth $128,764,000 after acquiring an additional 297,758 shares during the last quarter. Institutional investors and hedge funds own 37.75% of the company’s stock.
PINC has been the subject of several research reports. Zacks Investment Research downgraded shares of Premier from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Piper Jaffray Companies restated a “hold” rating on shares of Premier in a research report on Tuesday, August 22nd. KeyCorp restated a “buy” rating and set a $42.00 price objective on shares of Premier in a research report on Wednesday, October 4th. BidaskClub downgraded shares of Premier from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 23rd. Finally, William Blair restated an “ourperform” rating on shares of Premier in a research report on Tuesday, August 22nd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $39.29.
In other Premier news, CEO Susan D. Devore sold 40,000 shares of the stock in a transaction that occurred on Tuesday, August 29th. The shares were sold at an average price of $32.74, for a total value of $1,309,600.00. Following the sale, the chief executive officer now directly owns 466,427 shares in the company, valued at approximately $15,270,819.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Craig S. Mckasson sold 10,750 shares of the stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $33.55, for a total transaction of $360,662.50. Following the completion of the sale, the insider now owns 88,688 shares in the company, valued at $2,975,482.40. The disclosure for this sale can be found here. Insiders sold a total of 78,014 shares of company stock worth $2,575,863 over the last quarter. Corporate insiders own 17.14% of the company’s stock.
Shares of Premier, Inc. (NASDAQ PINC) opened at 33.98 on Friday. The stock has a 50 day moving average of $33.17 and a 200-day moving average of $34.00. The firm has a market capitalization of $1.81 billion, a P/E ratio of 22.50 and a beta of 0.46. Premier, Inc. has a 52-week low of $28.27 and a 52-week high of $36.50.
Premier (NASDAQ:PINC) last announced its quarterly earnings results on Monday, August 21st. The company reported $0.50 EPS for the quarter, missing the Zacks’ consensus estimate of $0.52 by ($0.02). The business had revenue of $403.10 million for the quarter, compared to analysts’ expectations of $400.45 million. Premier had a net margin of 0.66% and a negative return on equity of 16.27%. The business’s quarterly revenue was up 33.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.36 earnings per share. Equities analysts expect that Premier, Inc. will post $2.04 earnings per share for the current fiscal year.
Premier Company Profile
Premier, Inc is a healthcare improvement company. The Company is uniting an alliance of approximately 3,750 United States hospitals and more than 130,000 other provider 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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