Premier, Inc. (NASDAQ:PINC) COO Leigh Anderson Sells 20,000 Shares

Premier, Inc. (NASDAQ:PINC) COO Leigh Anderson sold 20,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $19.62, for a total value of $392,400.00. Following the sale, the chief operating officer now owns 131,707 shares in the company, valued at $2,584,091.34. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Premier Stock Up 0.5 %

PINC opened at $19.19 on Friday. Premier, Inc. has a twelve month low of $17.95 and a twelve month high of $23.01. The company has a fifty day moving average of $20.07 and a 200-day moving average of $19.92. The stock has a market cap of $2.01 billion, a PE ratio of 29.98, a price-to-earnings-growth ratio of 9.42 and a beta of 0.41.

Premier (NASDAQ:PINC) last announced its earnings results on Tuesday, August 20th. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.44 by $0.25. The company had revenue of $350.30 million for the quarter, compared to analyst estimates of $308.88 million. Premier had a return on equity of 11.69% and a net margin of 8.88%. The firm’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.70 EPS. Sell-side analysts anticipate that Premier, Inc. will post 1.04 EPS for the current fiscal year.

Premier Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 15th. Stockholders of record on Sunday, September 1st were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 4.38%. The ex-dividend date of this dividend was Friday, August 30th. Premier’s dividend payout ratio (DPR) is 131.25%.

Institutional Trading of Premier

Hedge funds have recently modified their holdings of the stock. Mitsubishi UFJ Trust & Banking Corp bought a new position in Premier during the first quarter worth $27,000. Abich Financial Wealth Management LLC raised its holdings in shares of Premier by 50.0% during the first quarter. Abich Financial Wealth Management LLC now owns 1,951 shares of the company’s stock valued at $43,000 after purchasing an additional 650 shares during the period. Parallel Advisors LLC boosted its position 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 purchasing an additional 1,159 shares in the last quarter. Versant Capital Management Inc grew 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 valued at $40,000 after buying an additional 1,554 shares during the period. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Premier in the 2nd quarter valued at about $47,000. Institutional investors own 74.41% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.