Sciencast Management LP Purchases Shares of 16,105 Premier Inc (NASDAQ:PINC)

Sciencast Management LP purchased a new stake in Premier Inc (NASDAQ:PINC) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 16,105 shares of the company’s stock, valued at approximately $507,000.

Several other institutional investors have also recently modified their holdings of PINC. AXA grew its holdings in Premier by 602.7% in the 1st quarter. AXA now owns 156,007 shares of the company’s stock valued at $5,105,000 after buying an additional 133,807 shares during the last quarter. Invesco Ltd. increased its position in Premier by 1.2% during the first quarter. Invesco Ltd. now owns 366,803 shares of the company’s stock worth $12,002,000 after acquiring an additional 4,376 shares during the period. Wells Fargo & Company MN raised its stake in Premier by 177.9% during the 1st quarter. Wells Fargo & Company MN now owns 1,681,431 shares of the company’s stock valued at $55,016,000 after purchasing an additional 1,076,477 shares during the last quarter. Jane Street Group LLC acquired a new position in Premier during the 1st quarter valued at $1,380,000. Finally, Victory Capital Management Inc. boosted its holdings in Premier by 19.7% in the 1st quarter. Victory Capital Management Inc. now owns 19,885 shares of the company’s stock valued at $651,000 after purchasing an additional 3,268 shares during the period. Institutional investors and hedge funds own 53.51% of the company’s stock.

NASDAQ:PINC opened at $34.97 on Friday. The stock has a market capitalization of $4.26 billion, a P/E ratio of -3.33, a price-to-earnings-growth ratio of 1.20 and a beta of 0.22. The company has a current ratio of 1.10, a quick ratio of 1.03 and a debt-to-equity ratio of 0.43. Premier Inc has a 1 year low of $27.11 and a 1 year high of $40.01. The firm has a 50 day moving average of $33.50 and a 200-day moving average of $32.73.

Premier (NASDAQ:PINC) last released its quarterly earnings results on Tuesday, May 5th. The company reported $0.73 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.02. The firm had revenue of $334.80 million during the quarter, compared to analysts’ expectations of $312.77 million. Premier had a negative return on equity of 103.03% and a negative net margin of 1.72%. The business’s revenue was up 11.2% on a year-over-year basis. During the same period last year, the firm posted $0.66 EPS. As a group, analysts forecast that Premier Inc will post 2.59 EPS for the current fiscal year.

Several research firms recently weighed in on PINC. Zacks Investment Research upgraded shares of Premier from a “sell” rating to a “hold” rating in a research note on Wednesday, July 15th. SVB Leerink initiated coverage on Premier in a research report on Monday, April 13th. They issued an “outperform” rating and a $42.00 price objective for the company. ValuEngine upgraded Premier from a “sell” rating to a “hold” rating in a research report on Tuesday, July 28th. SunTrust Banks upped their target price on Premier from $30.00 to $32.00 and gave the company a “hold” rating in a research note on Tuesday, May 12th. Finally, UBS Group reduced their price objective on shares of Premier from $35.00 to $33.00 and set a “neutral” rating for the company in a report on Wednesday, May 6th. Ten analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $38.45.

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.

Further Reading: What is a good rate of return for a mutual fund?

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Institutional Ownership by Quarter for Premier (NASDAQ:PINC)

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