Premier, Inc. (PINC) Position Boosted by Meeder Asset Management Inc.

  • Meeder
  • 03/11/2017
Meeder Asset Management Inc. lifted its position in Premier, Inc. (NASDAQ:PINC) by 38.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 54,586 shares of the companys stock after purchasing an additional 15,117 shares during the quarter. Meeder Asset Management Inc. owned 0.10% of Premier worth $1,778,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Alps Advisors Inc. grew its holdings in shares of Premier by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 15,462 shares of the companys stock worth $557,000 after purchasing an additional 40 shares during the last quarter. Advisors Asset Management Inc. grew its holdings in shares of Premier by 1.6% in the 2nd quarter. Advisors Asset Management Inc. now owns 4,461 shares of the companys stock worth $161,000 after purchasing an additional 72 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Premier by 4.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,664 shares of the companys stock worth $117,000 after purchasing an additional 149 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Premier by 7.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,373 shares of the companys stock worth $157,000 after purchasing an additional 315 shares during the last quarter. Finally, People s United Financial Inc. grew its holdings in shares of Premier by 4.0% in the 2nd quarter. People s United Financial Inc. now owns 9,728 shares of the companys stock worth $350,000 after purchasing an additional 372 shares during the last quarter. 38.37% of the stock is currently owned by institutional investors and hedge funds.

Premier (NASDAQ:PINC) last released its earnings results on Monday, August 21st. The company reported $0.50 earnings per share (EPS) for the quarter, missing the Zacks consensus estimate of $0.52 by ($0.02). The business had revenue of $403.10 million during the quarter, compared to the consensus estimate of $400.45 million. Premier had a net margin of 0.66% and a negative return on equity of 16.27%. The businesss revenue was up 33.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.36 EPS.

Premier declared that its board has approved a share buyback program on Tuesday, October 31st that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the companys board of directors believes its shares are undervalued.

In other news, SVP Leigh Anderson sold 2,264 shares of the businesss stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $32.73, for a total transaction of $74,100.72. Following the sale, the senior vice president now directly owns 14,654 shares in the company, valued at $479,625.42. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Susan D. Devore sold 40,000 shares of the businesss stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $32.74, for a total value of $1,309,600.00. Following the sale, the chief executive officer now owns 466,427 shares in the company, valued at $15,270,819.98. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 78,014 shares of company stock worth $2,575,863. Company insiders own 17.52% of the companys stock.

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PINC has been the topic of several research reports. Jefferies Group LLC reiterated a buy rating and set a $40.00 price target on shares of Premier in a research report on Wednesday, August 9th. KeyCorp reiterated a buy rating and set a $42.00 price target on shares of Premier in a research report on Wednesday, October 4th. Zacks Investment Research upgraded shares of Premier from a sell rating to a hold rating in a research report on Friday, August 18th. Piper Jaffray Companies reiterated a hold rating on shares of Premier in a research report on Tuesday, August 22nd. Finally, William Blair reiterated an ourperform rating on shares of Premier in a research report on Tuesday, August 22nd. Two research analysts have rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the companys stock. Premier has a consensus rating of Hold and an average target price of $39.29.

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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