Insider Selling: Premier, Inc. (NASDAQ:PINC) CEO Sells $25,292.64 in Stock

by · The Cerbat Gem

Premier, Inc. (NASDAQ:PINC – Get Free Report) CEO Michael J. Alkire sold 1,264 shares of the business’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $20.01, for a total transaction of $25,292.64. Following the sale, the chief executive officer now directly owns 558,143 shares in the company, valued at approximately $11,168,441.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Premier Price Performance

Premier stock opened at $19.10 on Friday. The stock’s 50 day moving average is $20.13 and its 200 day moving average is $19.94. Premier, Inc. has a one year low of $17.95 and a one year high of $23.01. The firm has a market cap of $1.91 billion, a P/E ratio of 29.84, a P/E/G ratio of 9.42 and a beta of 0.40.

Premier (NASDAQ:PINC – Get Free Report) last issued its quarterly earnings results on Tuesday, August 20th. The company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.25. Premier had a net margin of 8.88% and a return on equity of 11.69%. The firm had revenue of $350.30 million for the quarter, compared to the consensus estimate of $308.88 million. During the same quarter in the previous year, the company earned $0.70 EPS. The company’s revenue for the quarter was up 2.9% on a year-over-year basis. Equities analysts anticipate that Premier, Inc. will post 1.04 earnings per share for the current fiscal year.

Premier Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Sunday, September 15th. Shareholders of record on Sunday, September 1st were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.84 dividend on an annualized basis and a yield of 4.40%. Premier’s dividend payout ratio (DPR) is currently 131.25%.

Analyst Upgrades and Downgrades

PINC has been the topic of several recent research reports. StockNews.com downgraded Premier from a “buy” rating to a “hold” rating in a report on Thursday, September 12th. Canaccord Genuity Group cut their price target on Premier from $20.00 to $19.00 and set a “hold” rating on the stock in a research note on Wednesday. JPMorgan Chase & Co. lowered their price objective on Premier from $21.00 to $19.00 and set a “neutral” rating for the company in a research note on Monday, September 9th. Robert W. Baird dropped their price objective on shares of Premier from $22.00 to $19.00 and set a “neutral” rating for the company in a report on Wednesday, August 21st. Finally, Benchmark lowered shares of Premier from a “buy” rating to a “hold” rating in a report on Monday, August 26th. Ten investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $21.81.

Check Out Our Latest Research Report on PINC

Institutional Trading of Premier

A number of large investors have recently bought and sold shares of the business. Mitsubishi UFJ Trust & Banking Corp bought a new stake in shares of Premier during the 1st quarter valued at about $27,000. Versant Capital Management Inc increased its holdings in Premier by 265.2% in the second quarter. Versant Capital Management Inc now owns 2,140 shares of the company’s stock worth $40,000 after purchasing an additional 1,554 shares in the last quarter. Abich Financial Wealth Management LLC lifted its stake in Premier by 50.0% in the first quarter. Abich Financial Wealth Management LLC now owns 1,951 shares of the company’s stock valued at $43,000 after buying an additional 650 shares during the period. Parallel Advisors LLC boosted its holdings in shares of Premier by 141.2% during the 4th quarter. Parallel Advisors LLC now owns 1,980 shares of the company’s stock worth $44,000 after buying an additional 1,159 shares in the last quarter. Finally, Meeder Asset Management Inc. bought a new position in shares of Premier during the 2nd quarter worth approximately $47,000. 74.41% of the stock is currently owned by institutional investors and hedge funds.

About Premier

(Get Free Report)

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.

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