Insider Selling: Premier, Inc. (NASDAQ:PINC) CFO Sells $204,100.00 in Stock

Premier, Inc. (NASDAQ:PINC) CFO Craig S. Mckasson sold 10,000 shares of the company’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $20.41, for a total transaction of $204,100.00. Following the sale, the chief financial officer now owns 263,699 shares in the company, valued at $5,382,096.59. The sale was disclosed in a filing with the SEC, which is available at this link.

Premier Price Performance

Shares of PINC stock opened at $19.89 on Monday. The company has a market capitalization of $2.08 billion, a P/E ratio of 31.08, a P/E/G ratio of 9.79 and a beta of 0.40. The company’s 50-day simple moving average is $20.12 and its two-hundred day simple moving average is $20.02. Premier, Inc. has a one year low of $17.95 and a one year high of $23.01.

Premier (NASDAQ:PINC) last issued its earnings results on Tuesday, August 20th. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.25. The business had revenue of $350.30 million during the quarter, compared to analysts’ expectations of $308.88 million. Premier had a return on equity of 11.69% and a net margin of 8.88%. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.70 EPS. On average, research analysts expect that Premier, Inc. will post 1.04 EPS for the current fiscal year.

Premier Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Sunday, September 15th. Stockholders of record on Sunday, September 1st were given a $0.21 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.84 annualized dividend and a dividend yield of 4.22%. Premier’s payout ratio is presently 131.25%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on PINC shares. 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 research note on Wednesday, August 21st. Benchmark downgraded shares of Premier from a “buy” rating to a “hold” rating in a research note on Monday, August 26th. StockNews.com cut shares of Premier from a “buy” rating to a “hold” rating in a research note on Thursday, September 12th. Finally, Canaccord Genuity Group reduced their price objective on shares of Premier from $21.00 to $20.00 and set a “hold” rating on the stock in a research report on Wednesday, August 21st. Ten investment analysts have rated the stock with a hold rating, According to MarketBeat, Premier has an average rating of “Hold” and a consensus price target of $21.94.

Hedge Funds Weigh In On Premier

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Personalized Indexing Management LLC lifted its holdings in Premier by 39.7% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 14,452 shares of the company’s stock worth $323,000 after buying an additional 4,104 shares during the period. Janney Montgomery Scott LLC lifted its stake in shares of Premier by 11.8% during the 4th quarter. Janney Montgomery Scott LLC now owns 22,227 shares of the company’s stock worth $497,000 after purchasing an additional 2,352 shares during the last quarter. Norges Bank bought a new stake in Premier during the fourth quarter valued at about $51,271,000. UBS Group AG grew its stake in Premier by 10.1% in the fourth quarter. UBS Group AG now owns 290,132 shares of the company’s stock valued at $6,487,000 after purchasing an additional 26,666 shares during the last quarter. Finally, Intech Investment Management LLC bought a new position in Premier in the fourth quarter worth about $363,000. 74.41% of the stock is currently owned by institutional investors.

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.