Synovus Financial Corp grew its holdings in shares of Premier Inc (NASDAQ:PINC) by 3.9% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 11,390 shares of the company’s stock after acquiring an additional 426 shares during the quarter. Synovus Financial Corp’s holdings in Premier were worth $334,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in PINC. Mackenzie Financial Corp raised its position in shares of Premier by 141.6% during the 2nd quarter. Mackenzie Financial Corp now owns 1,716,406 shares of the company’s stock valued at $67,129,000 after buying an additional 1,005,871 shares in the last quarter. Nuveen Asset Management LLC purchased a new stake in shares of Premier during the 2nd quarter valued at about $23,463,000. Wells Fargo & Company MN raised its position in shares of Premier by 385.3% during the 2nd quarter. Wells Fargo & Company MN now owns 702,320 shares of the company’s stock valued at $27,468,000 after buying an additional 557,604 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Premier by 20.8% during the 2nd quarter. Renaissance Technologies LLC now owns 3,166,309 shares of the company’s stock valued at $123,834,000 after buying an additional 546,200 shares in the last quarter. Finally, Copper Rock Capital Partners LLC purchased a new stake in shares of Premier during the 3rd quarter valued at about $11,634,000. Hedge funds and other institutional investors own 49.51% of the company’s stock.
Several analysts have recently issued reports on PINC shares. Jefferies Financial Group set a $43.00 target price on shares of Premier and gave the company a “buy” rating in a research report on Thursday, September 26th. ValuEngine upgraded shares of Premier from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Piper Jaffray Companies restated a “hold” rating on shares of Premier in a research report on Thursday, August 22nd. BidaskClub upgraded shares of Premier from a “sell” rating to a “hold” rating in a research report on Wednesday, October 23rd. Finally, Credit Suisse Group restated a “neutral” rating and set a $42.00 target price (down from $43.00) on shares of Premier in a research report on Tuesday, August 13th. Nine equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $40.56.
In other Premier news, CFO Craig S. Mckasson sold 3,013 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $37.02, for a total value of $111,541.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William E. Mayer sold 4,000 shares of the firm’s 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 completion of the sale, the director now owns 13,763 shares of the company’s stock, valued at $515,424.35. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,315 shares of company stock valued at $416,586. 17.67% of the stock is owned by insiders.
Premier stock traded down $0.03 during midday trading on Friday, reaching $37.32. The stock had a trading volume of 760,300 shares, compared to its average volume of 712,371. The company has a fifty day moving average of $32.21 and a 200 day moving average of $36.12. Premier Inc has a 52-week low of $27.37 and a 52-week high of $42.00. The firm has a market cap of $4.61 billion, a price-to-earnings ratio of 16.44, a price-to-earnings-growth ratio of 1.50 and a beta of 0.34.
Premier (NASDAQ:PINC) last announced its earnings results on Tuesday, November 5th. The company reported $0.68 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.02. The company had revenue of $302.40 million during the quarter, compared to the consensus estimate of $295.50 million. Premier had a net margin of 17.74% and a negative return on equity of 40.78%. Premier’s revenue was up 3.3% compared to the same quarter last year. During the same period last year, the firm earned $0.65 earnings per share. On average, equities analysts forecast that Premier Inc will post 2.66 EPS for the current fiscal year.
Premier Company Profile
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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