Michael J. Alkire Sells 18,771 Shares of Premier, Inc. (NASDAQ:PINC) Stock

Premier, Inc. (NASDAQ:PINC) CEO Michael J. Alkire sold 18,771 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $21.12, for a total value of $396,443.52. Following the sale, the chief executive officer now directly owns 543,927 shares of the company’s stock, valued at approximately $11,487,738.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Premier Stock Down 1.4 %

NASDAQ PINC opened at $20.68 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.82 and a current ratio of 0.93. Premier, Inc. has a one year low of $17.95 and a one year high of $28.03. The stock has a 50 day moving average price of $19.06 and a 200-day moving average price of $20.37. The company has a market capitalization of $2.17 billion, a P/E ratio of 32.31, a P/E/G ratio of 6.90 and a beta of 0.42.

Premier (NASDAQ:PINC) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.07. The business had revenue of $342.60 million during the quarter, compared to analyst estimates of $312.92 million. Premier had a return on equity of 11.71% and a net margin of 6.01%. As a group, equities analysts predict that Premier, Inc. will post 1.96 EPS for the current fiscal year.

Institutional Trading of Premier

Several institutional investors and hedge funds have recently modified their holdings of PINC. SG Americas Securities LLC bought a new stake in Premier during the 4th quarter valued at $133,000. Global Retirement Partners LLC raised its holdings in shares of Premier by 153.3% in the fourth quarter. Global Retirement Partners LLC now owns 1,583 shares of the company’s stock valued at $35,000 after acquiring an additional 958 shares in the last quarter. Advisors Preferred LLC purchased a new stake in Premier in the fourth quarter worth about $1,855,000. New York State Teachers Retirement System grew its holdings in Premier by 8.4% during the 4th quarter. New York State Teachers Retirement System now owns 31,760 shares of the company’s stock worth $710,000 after acquiring an additional 2,460 shares in the last quarter. Finally, Cubic Asset Management LLC purchased a new position in Premier during the 4th quarter valued at about $447,000. Institutional investors own 74.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on PINC shares. Piper Sandler reduced their target price on shares of Premier from $24.00 to $22.00 and set a “neutral” rating for the company in a report on Wednesday, May 8th. StockNews.com raised shares of Premier from a “hold” rating to a “buy” rating in a research note on Thursday, May 9th. Canaccord Genuity Group reaffirmed a “hold” rating and issued a $21.00 target price (down previously from $27.00) on shares of Premier in a report on Wednesday, May 8th. Robert W. Baird decreased their price target on Premier from $25.00 to $22.00 and set a “neutral” rating on the stock in a report on Wednesday, May 8th. Finally, JPMorgan Chase & Co. dropped their price objective on Premier from $23.00 to $21.00 and set a “neutral” rating for the company in a research note on Tuesday, May 28th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $23.50.

Premier Company 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.