Trade Report: The Premier Inc. (PINC) Position Decreased by PNC Financial Services Group Inc.

The Premier Inc. (PINC) Position Decreased by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. cut its stake in shares of Premier Inc. (NASDAQ:PINC) by 5.5% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,152 shares of the company’s stock after selling 184 shares during the period. PNC Financial Services Group Inc.’s holdings in Premier were worth $103,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Calvert Investment Management Inc. boosted its stake in Premier by 6.4% in the second quarter. Calvert Investment Management Inc. now owns 8,516 shares of the company’s stock valued at $278,000 after buying an additional 509 shares during the last quarter. Princeton Alpha Management LP boosted its stake in Premier by 3.9% in the second quarter. Princeton Alpha Management LP now owns 16,274 shares of the company’s stock valued at $532,000 after buying an additional 613 shares during the last quarter. Punch & Associates Investment Management Inc. boosted its stake in Premier by 1.1% in the second quarter. Punch & Associates Investment Management Inc. now owns 73,553 shares of the company’s stock valued at $2,405,000 after buying an additional 828 shares during the last quarter. Utah Retirement Systems boosted its stake in Premier by 25.8% in the second quarter. Utah Retirement Systems now owns 8,300 shares of the company’s stock valued at $272,000 after buying an additional 1,700 shares during the last quarter. Finally, Lucus Advisors LLC boosted its stake in Premier by 24.0% in the second quarter. Lucus Advisors LLC now owns 10,592 shares of the company’s stock valued at $346,000 after buying an additional 2,048 shares during the last quarter. 99.13% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Premier Inc. (NASDAQ:PINC) traded up 1.09% during midday trading on Wednesday, hitting $32.32. The stock had a trading volume of 124,647 shares. The company’s 50 day moving average is $31.66 and its 200 day moving average is $32.65. Premier Inc. has a 52-week low of $29.68 and a 52-week high of $37.00. The company has a market cap of $1.53 billion, a PE ratio of 24.25 and a beta of 0.54.

Premier (NASDAQ:PINC) last posted its earnings results on Monday, August 22nd. The company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by $0.02. The firm earned $301.40 million during the quarter. Premier had a negative return on equity of 8.33% and a net margin of 110.54%. The company’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.36 EPS. On average, analysts anticipate that Premier Inc. will post $1.77 earnings per share for the current year.

Several analysts have weighed in on the company. Canaccord Genuity reaffirmed a “buy” rating and issued a $40.00 price target on shares of Premier in a report on Wednesday, June 29th. Zacks Investment Research upgraded Premier from a “hold” rating to a “buy” rating and set a $36.00 price objective on the stock in a research report on Thursday, August 18th. Credit Suisse Group AG initiated coverage on Premier in a research report on Friday, August 5th. They set an “outperform” rating and a $39.00 price objective on the stock. Barclays PLC reduced their price objective on Premier from $41.00 to $39.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 23rd. Finally, Oppenheimer Holdings Inc. reiterated an “outperform” rating on shares of Premier in a research report on Tuesday, August 23rd. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $38.85.

In other news, Director Stephen R. D’arcy bought 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 25th. The shares were bought at an average cost of $30.91 per share, for a total transaction of $123,640.00. Following the completion of the transaction, the director now owns 14,042 shares of the company’s stock, valued at $434,038.22. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP R. Wesley Champion sold 7,108 shares of the business’s stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $31.47, for a total value of $223,688.76. The disclosure for this sale can be found here. 17.31% of the stock is owned by corporate insiders.

Premier Company Profile

Premier, Inc is a healthcare improvement company. The Company is uniting an alliance of approximately 3,600 United States hospitals and approximately 120,000 other providers 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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