Reinhart Partners Inc. grew its holdings in shares of Premier Inc (NASDAQ:PINC) by 40.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 272,510 shares of the company’s stock after buying an additional 77,928 shares during the quarter. Reinhart Partners Inc. owned approximately 0.22% of Premier worth $7,881,000 at the end of the most recent reporting period.
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Several other hedge funds have also recently modified their holdings of PINC. Mackenzie Financial Corp lifted its stake in 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 purchasing an additional 1,005,871 shares during the last quarter. Nuveen Asset Management LLC bought a new position in Premier in the 2nd quarter valued at approximately $23,463,000. Wells Fargo & Company MN lifted its stake in Premier by 385.3% in the 2nd quarter. Wells Fargo & Company MN now owns 702,320 shares of the company’s stock valued at $27,468,000 after purchasing an additional 557,604 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Premier by 20.8% during the second 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. Finally, Copper Rock Capital Partners LLC bought a new position in shares of Premier during the third quarter valued at $11,634,000. 50.48% of the stock is currently owned by institutional investors.
In other news, Director William E. Mayer sold 4,000 shares of Premier stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $37.45, for a total transaction of $149,800.00. Following the sale, the director now owns 13,763 shares in the company, valued at $515,424.35. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Craig S. Mckasson sold 2,287 shares of Premier stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $37.00, for a total transaction of $84,619.00. Following the sale, the chief financial officer now owns 117,058 shares in the company, valued at approximately $4,331,146. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,315 shares of company stock worth $416,586. Company insiders own 17.67% of the company’s stock.
PINC stock traded up $0.50 during midday trading on Friday, reaching $36.66. The company had a trading volume of 761,500 shares, compared to its average volume of 822,848. Premier Inc has a 1 year low of $27.37 and a 1 year high of $42.00. The company has a market capitalization of $4.41 billion, a P/E ratio of 16.15, a P/E/G ratio of 1.46 and a beta of 0.34. The firm has a 50-day moving average price of $32.47 and a 200-day moving average price of $36.24.
Premier (NASDAQ:PINC) last released its earnings results on Tuesday, November 5th. The company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.02. The company had revenue of $302.40 million for the quarter, compared to analysts’ expectations of $295.50 million. Premier had a net margin of 17.74% and a negative return on equity of 51.84%. The firm’s revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.65 EPS. As a group, analysts anticipate that Premier Inc will post 2.66 EPS for the current fiscal year.
PINC has been the subject of several analyst reports. BidaskClub raised shares of Premier from a “sell” rating to a “hold” rating in a research note on Wednesday, October 23rd. Evercore ISI reissued a “hold” rating on shares of Premier in a research note on Monday, November 11th. Robert W. Baird downgraded shares of Premier from an “outperform” rating to a “neutral” rating and set a $41.00 target price for the company. in a research note on Monday, November 11th. Credit Suisse Group restated a “neutral” rating and issued a $42.00 price target (down from $43.00) on shares of Premier in a report on Tuesday, August 13th. Finally, Zacks Investment Research cut shares of Premier from a “buy” rating to a “hold” rating in a report on Saturday. Eleven research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $40.00.
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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