Premier, Inc. (PINC) Position Increased by BNP Paribas Arbitrage SA
BNP Paribas Arbitrage SA boosted its stake in Premier, Inc. (NASDAQ:PINC) by 3,266.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,887 shares of the company’s stock after buying an additional 34,821 shares during the quarter. BNP Paribas Arbitrage SA owned approximately 0.07% of Premier worth $1,292,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the stock. Legal & General Group Plc boosted its stake in Premier by 10.6% in the 2nd quarter. Legal & General Group Plc now owns 18,922 shares of the company’s stock valued at $681,000 after buying an additional 1,819 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Premier by 0.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 645,164 shares of the company’s stock valued at $23,226,000 after buying an additional 4,938 shares in the last quarter. Alps Advisors Inc. boosted its stake in Premier by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 15,462 shares of the company’s stock valued at $557,000 after buying an additional 40 shares in the last quarter. Gargoyle Investment Advisor L.L.C. acquired a new stake in Premier in the 2nd quarter valued at $324,000. Finally, Advisors Asset Management Inc. boosted its stake in Premier by 1.6% in the 2nd quarter. Advisors Asset Management Inc. now owns 4,461 shares of the company’s stock valued at $161,000 after buying an additional 72 shares in the last quarter. 98.87% of the stock is currently owned by institutional investors and hedge funds.
Several analysts recently commented on the company. UBS AG reaffirmed a “neutral” rating and issued a $35.00 price target (up previously from $34.00) on shares of Premier in a research note on Thursday, May 25th. Piper Jaffray Companies reaffirmed a “hold” rating on shares of Premier in a research note on Tuesday, August 22nd. Jefferies Group LLC reaffirmed a “buy” rating and issued a $40.00 price target on shares of Premier in a research note on Wednesday, August 9th. Zacks Investment Research raised Premier from a “sell” rating to a “hold” rating in a research note on Tuesday. Finally, William Blair reaffirmed an “ourperform” rating on shares of Premier in a research note on Tuesday, August 22nd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $38.43.
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In other news, insider Durral R. Gilbert sold 82,861 shares of the stock in a transaction on Monday, June 12th. The stock was sold at an average price of $35.11, for a total value of $2,909,249.71. Following the completion of the transaction, the insider now directly owns 145,261 shares in the company, valued at approximately $5,100,113.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Susan D. Devore sold 40,000 shares of the stock in a transaction 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 completion of the transaction, the chief executive officer now owns 466,427 shares of the company’s stock, valued at $15,270,819.98. The disclosure for this sale can be found here. Insiders sold a total of 251,974 shares of company stock valued at $8,691,997 over the last quarter. 17.14% of the stock is owned by corporate insiders.
Premier, Inc. (NASDAQ PINC) opened at 33.35 on Wednesday. The company has a market cap of $1.77 billion, a P/E ratio of 22.09 and a beta of 0.47. Premier, Inc. has a 12 month low of $28.27 and a 12 month high of $36.50. The firm has a 50-day moving average price of $34.02 and a 200 day moving average price of $33.62.
Premier (NASDAQ:PINC) last issued its earnings results on Monday, August 21st. The company reported $0.50 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.52 by $0.02. Premier had a net margin of 0.66% and a negative return on equity of 16.27%. The business had revenue of $403.10 million during the quarter, compared to analyst estimates of $400.45 million. During the same period in the prior year, the business posted $0.36 EPS. The company’s revenue for the quarter was up 33.7% compared to the same quarter last year. On average, equities analysts expect that Premier, Inc. will post $2.05 earnings per share for the current year.
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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