Van ECK Associates Corp Invests $60,000 in Premier, Inc. (NASDAQ:PINC)

Van ECK Associates Corp purchased a new position in Premier, Inc. (NASDAQ:PINC – Get Rating) during the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 1,779 shares of the company’s stock, valued at approximately $60,000.

Several other hedge funds and other institutional investors have also made changes to their positions in PINC. Parallel Advisors LLC boosted its position in shares of Premier by 37.0% in the 2nd quarter. Parallel Advisors LLC now owns 1,185 shares of the company’s stock worth $42,000 after purchasing an additional 320 shares during the last quarter. Wipfli Financial Advisors LLC bought a new position in Premier during the third quarter worth about $43,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in Premier during the second quarter worth about $44,000. Captrust Financial Advisors lifted its holdings in Premier by 48.5% during the second quarter. Captrust Financial Advisors now owns 1,362 shares of the company’s stock worth $49,000 after acquiring an additional 445 shares in the last quarter. Finally, EverSource Wealth Advisors LLC bought a new position in Premier during the second quarter worth about $53,000. 66.93% of the stock is currently owned by institutional investors.

Premier Stock Performance

NASDAQ PINC opened at $33.83 on Friday. The company has a quick ratio of 0.73, a current ratio of 0.88 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $4.02 billion, a price-to-earnings ratio of 21.83, a PEG ratio of 1.40 and a beta of 0.32. The stock has a fifty day simple moving average of $33.73 and a 200 day simple moving average of $34.83. Premier, Inc. has a twelve month low of $30.82 and a twelve month high of $39.10.

Premier (NASDAQ:PINC – Get Rating) last released its quarterly earnings data on Tuesday, November 1st. The company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.02). The company had revenue of $313.87 million for the quarter, compared to the consensus estimate of $327.95 million. Premier had a return on equity of 11.35% and a net margin of 13.50%. Sell-side analysts expect that Premier, Inc. will post 2.37 EPS for the current year.

Analyst Ratings Changes

Several research analysts have weighed in on PINC shares. JPMorgan Chase & Co. reduced their target price on Premier from $41.00 to $30.00 and set a “neutral” rating on the stock in a report on Friday, November 18th. StockNews.com lowered Premier from a “strong-buy” rating to a “buy” rating in a report on Friday, January 13th. Robert W. Baird raised Premier from a “neutral” rating to an “outperform” rating and set a $41.00 price target on the stock in a research note on Wednesday, November 2nd. Barclays dropped their price target on Premier to $33.00 in a research note on Thursday, October 13th. Finally, Raymond James dropped their price target on Premier from $45.00 to $40.00 and set an “outperform” rating on the stock in a research note on Thursday, November 3rd. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $40.56.

Premier Company Profile

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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.