Rice Hall James & Associates LLC Boosts Position in Premier Inc (PINC)
Rice Hall James & Associates LLC boosted its stake in Premier Inc (NASDAQ:PINC) by 83.0% in the 4th quarter, Holdings Channel reports. The firm owned 1,068,282 shares of the company’s stock after purchasing an additional 484,433 shares during the period. Premier comprises about 1.2% of Rice Hall James & Associates LLC’s portfolio, making the stock its 13th largest holding. Rice Hall James & Associates LLC’s holdings in Premier were worth $31,183,000 as of its most recent SEC filing.
A number of other institutional investors also recently bought and sold shares of PINC. State of Alaska Department of Revenue acquired a new stake in Premier in the 4th quarter valued at approximately $124,000. The Manufacturers Life Insurance Company increased its holdings in Premier by 7.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,373 shares of the company’s stock valued at $157,000 after purchasing an additional 315 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in Premier by 30.9% in the 2nd quarter. PNC Financial Services Group Inc. now owns 4,796 shares of the company’s stock valued at $173,000 after purchasing an additional 1,132 shares during the last quarter. Suntrust Banks Inc. acquired a new stake in Premier in the 2nd quarter valued at approximately $276,000. Finally, Fox Run Management L.L.C. acquired a new stake in Premier in the 3rd quarter valued at approximately $287,000. Hedge funds and other institutional investors own 38.37% of the company’s stock.
Several analysts recently weighed in on the stock. BidaskClub upgraded shares of Premier from a “strong sell” rating to a “sell” rating in a report on Thursday, January 11th. Zacks Investment Research upgraded shares of Premier from a “hold” rating to a “buy” rating and set a $33.00 target price for the company in a report on Wednesday, January 10th. Evercore ISI assumed coverage on shares of Premier in a report on Thursday, January 18th. They issued an “in-line” rating and a $33.50 target price for the company. Oppenheimer reiterated a “buy” rating and issued a $40.00 target price on shares of Premier in a report on Thursday, December 7th. Finally, SunTrust Banks dropped their target price on shares of Premier to $36.00 and set a “buy” rating for the company in a report on Friday, November 17th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $36.35.
Premier (NASDAQ:PINC) last posted its quarterly earnings results on Monday, November 6th. The company reported $0.44 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.05). The business had revenue of $390.56 million during the quarter, compared to analyst estimates of $389.56 million. Premier had a negative return on equity of 18.31% and a net margin of 17.99%. The business’s revenue was up 24.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.41 EPS. analysts forecast that Premier Inc will post 1.93 earnings per share for the current year.
In other Premier news, COO Michael J. Alkire sold 25,000 shares of the business’s stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $29.90, for a total value of $747,500.00. Following the completion of the transaction, the chief operating officer now owns 180,550 shares in the company, valued at $5,398,445. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 17.52% of the company’s stock.
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Premier, Inc is a healthcare improvement company. The Company is uniting an alliance of approximately 3,900 United States hospitals and health systems and approximately 150,000 other providers and 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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