EMC Capital Management Makes New Investment in Premier, Inc. $PINC

EMC Capital Management purchased a new position in shares of Premier, Inc. (NASDAQ:PINC) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 7,521 shares of the company’s stock, valued at approximately $165,000.

Several other large investors also recently modified their holdings of PINC. Y Intercept Hong Kong Ltd acquired a new position in shares of Premier during the second quarter valued at about $464,000. Empowered Funds LLC grew its stake in shares of Premier by 2.5% in the 1st quarter. Empowered Funds LLC now owns 508,288 shares of the company’s stock valued at $9,800,000 after buying an additional 12,303 shares during the period. Bank of New York Mellon Corp increased its position in Premier by 1.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,173,760 shares of the company’s stock valued at $25,741,000 after buying an additional 17,728 shares in the last quarter. Keystone Financial Services acquired a new position in Premier during the 2nd quarter worth approximately $230,000. Finally, Voya Investment Management LLC boosted its holdings in Premier by 17.5% in the first quarter. Voya Investment Management LLC now owns 70,397 shares of the company’s stock worth $1,357,000 after acquiring an additional 10,468 shares in the last quarter. Institutional investors and hedge funds own 74.41% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PINC. Leerink Partners upped their target price on Premier from $24.00 to $26.00 and gave the stock a “market perform” rating in a research report on Tuesday, August 19th. Weiss Ratings restated a “hold (c-)” rating on shares of Premier in a report on Wednesday, October 8th. UBS Group raised their price objective on shares of Premier from $26.00 to $28.25 and gave the company a “neutral” rating in a research note on Thursday, September 25th. Robert W. Baird boosted their target price on shares of Premier from $22.00 to $27.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 20th. Finally, Bank of America upped their target price on shares of Premier from $19.00 to $21.00 and gave the stock an “underperform” rating in a report on Tuesday, August 19th. Six analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Premier has a consensus rating of “Reduce” and a consensus target price of $26.46.

Premier Price Performance

PINC opened at $28.20 on Wednesday. Premier, Inc. has a 1 year low of $17.23 and a 1 year high of $28.79. The company has a market capitalization of $2.33 billion, a price-to-earnings ratio of -104.44 and a beta of 0.64. The firm’s fifty day moving average price is $27.78 and its two-hundred day moving average price is $24.68.

Premier (NASDAQ:PINC) last announced its earnings results on Tuesday, January 14th. The company reported $0.67 EPS for the quarter. Premier had a negative net margin of 3.28% and a positive return on equity of 6.84%. The company had revenue of ($713.06) million during the quarter. As a group, equities analysts anticipate that Premier, Inc. will post 1.13 EPS for the current year.

Insider Buying and Selling at Premier

In other Premier news, insider Andy Brailo sold 6,521 shares of Premier stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $25.79, for a total transaction of $168,176.59. Following the transaction, the insider owned 99,447 shares of the company’s stock, valued at $2,564,738.13. This trade represents a 6.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John T. Bigalke sold 1,137 shares of the business’s stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $25.79, for a total value of $29,323.23. Following the completion of the transaction, the director owned 27,536 shares in the company, valued at $710,153.44. The trade was a 3.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 12,326 shares of company stock worth $317,230. Insiders own 0.96% of the company’s stock.

Premier Profile

Premier, Inc, together with its subsidiaries, operates as a healthcare improvement company in the United States. It operates in two segments, Supply Chain Services and Performance Services. The Supply Chain Services segment offers its members with an 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 workforce solutions.