Cadence Capital Management LLC Trims Stake in Premier Inc (PINC)

Cadence Capital Management LLC reduced its stake in shares of Premier Inc (NASDAQ:PINC) by 3.1% in the third quarter, HoldingsChannel.com reports. The fund owned 40,378 shares of the company’s stock after selling 1,283 shares during the quarter. Cadence Capital Management LLC’s holdings in Premier were worth $1,849,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Fort L.P. bought a new position in shares of Premier during the 2nd quarter valued at approximately $123,000. CENTRAL TRUST Co grew its position in shares of Premier by 195.9% during the 3rd quarter. CENTRAL TRUST Co now owns 3,270 shares of the company’s stock valued at $150,000 after acquiring an additional 2,165 shares during the period. PNC Financial Services Group Inc. boosted its holdings in Premier by 41.5% in the 2nd quarter. PNC Financial Services Group Inc. now owns 5,034 shares of the company’s stock worth $184,000 after buying an additional 1,477 shares during the period. Parametrica Management Ltd bought a new position in Premier in the 2nd quarter worth approximately $203,000. Finally, Raymond James Trust N.A. bought a new position in Premier in the 2nd quarter worth approximately $207,000. 42.26% of the stock is owned by hedge funds and other institutional investors.

In other Premier news, SVP David Alfred Hargraves sold 2,210 shares of the stock in a transaction that occurred on Tuesday, October 2nd. The shares were sold at an average price of $45.58, for a total value of $100,731.80. Following the sale, the senior vice president now directly owns 11,108 shares in the company, valued at approximately $506,302.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William E. Mayer sold 3,000 shares of the stock in a transaction that occurred on Thursday, August 23rd. The stock was sold at an average price of $43.35, for a total transaction of $130,050.00. Following the completion of the sale, the director now owns 14,587 shares in the company, valued at $632,346.45. The disclosure for this sale can be found here. Insiders sold a total of 15,656 shares of company stock worth $684,386 over the last quarter. Corporate insiders own 18.30% of the company’s stock.

PINC opened at $41.37 on Friday. The company has a market capitalization of $5.51 billion, a P/E ratio of 59.10, a price-to-earnings-growth ratio of 1.41 and a beta of 0.55. Premier Inc has a 12 month low of $27.16 and a 12 month high of $47.22.

Premier (NASDAQ:PINC) last posted its earnings results on Tuesday, November 6th. The company reported $0.65 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.05. Premier had a net margin of 32.31% and a negative return on equity of 27.57%. The business had revenue of $401.60 million for the quarter, compared to analysts’ expectations of $412.79 million. During the same period in the prior year, the company posted $0.44 EPS. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. On average, analysts predict that Premier Inc will post 2.48 earnings per share for the current year.

Several research analysts recently commented on PINC shares. Canaccord Genuity downgraded shares of Premier from a “buy” rating to a “hold” rating and set a $43.00 price objective for the company. in a report on Tuesday, August 14th. They noted that the move was a valuation call. BidaskClub raised shares of Premier from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 15th. Zacks Investment Research raised shares of Premier from a “sell” rating to a “hold” rating in a report on Saturday, August 18th. Piper Jaffray Companies raised their price objective on shares of Premier from $32.00 to $40.00 and gave the stock a “neutral” rating in a report on Tuesday, August 21st. Finally, Oppenheimer raised their price objective on shares of Premier to $48.00 and gave the stock an “outperform” rating in a report on Tuesday, August 21st. Nine equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $41.68.

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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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Institutional Ownership by Quarter for Premier (NASDAQ:PINC)

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