Premier, Inc. (NASDAQ:PINC) CEO Sells $403,331.40 in Stock

Premier, Inc. (NASDAQ:PINC) CEO Michael J. Alkire sold 17,415 shares of Premier stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $23.16, for a total value of $403,331.40. Following the transaction, the chief executive officer now owns 520,728 shares of the company’s stock, valued at approximately $12,060,060.48. This represents a 3.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Premier Price Performance

Shares of Premier stock opened at $22.48 on Friday. The business has a 50 day simple moving average of $20.36 and a two-hundred day simple moving average of $19.79. The stock has a market capitalization of $2.25 billion, a P/E ratio of 16.53, a PEG ratio of 10.11 and a beta of 0.40. Premier, Inc. has a 12 month low of $17.95 and a 12 month high of $23.43.

Premier (NASDAQ:PINC) last announced its earnings results on Tuesday, November 5th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.09. The company had revenue of $248.14 million for the quarter, compared to analysts’ expectations of $232.85 million. Premier had a net margin of 11.41% and a return on equity of 10.74%. The firm’s quarterly revenue was down 7.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.50 EPS. As a group, research analysts anticipate that Premier, Inc. will post 1.09 EPS for the current fiscal year.

Premier Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st will be issued a $0.21 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.84 dividend on an annualized basis and a yield of 3.74%. Premier’s payout ratio is 61.77%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in shares of Premier in the first quarter valued at approximately $27,000. GAMMA Investing LLC grew its holdings in Premier by 137.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,347 shares of the company’s stock valued at $27,000 after buying an additional 780 shares in the last quarter. Versant Capital Management Inc increased its stake in shares of Premier by 265.2% in the 2nd quarter. Versant Capital Management Inc now owns 2,140 shares of the company’s stock worth $40,000 after acquiring an additional 1,554 shares during the last quarter. Abich Financial Wealth Management LLC raised its holdings in shares of Premier by 50.0% during the 1st quarter. Abich Financial Wealth Management LLC now owns 1,951 shares of the company’s stock worth $43,000 after acquiring an additional 650 shares during the period. Finally, Quarry LP boosted its position in shares of Premier by 576.7% during the 3rd quarter. Quarry LP now owns 2,179 shares of the company’s stock valued at $44,000 after acquiring an additional 1,857 shares during the last quarter. 74.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. StockNews.com lowered shares of Premier from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th. Robert W. Baird upped their price objective on shares of Premier from $19.00 to $20.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. Barclays increased their target price on shares of Premier from $20.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 6th. JPMorgan Chase & Co. cut their price target on Premier from $21.00 to $19.00 and set a “neutral” rating for the company in a research note on Monday, September 9th. Finally, Canaccord Genuity Group increased their price target on Premier from $19.00 to $21.00 and gave the stock a “hold” rating in a research report on Wednesday, November 6th. Ten investment analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $21.36.

About Premier

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.