Premier, Inc. (NASDAQ:PINC) COO Sells $372,600.00 in Stock

Premier, Inc. (NASDAQ:PINC) COO Leigh Anderson sold 20,000 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $18.63, for a total value of $372,600.00. Following the sale, the chief operating officer now directly owns 163,928 shares of the company’s stock, valued at approximately $3,053,978.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Leigh Anderson also recently made the following trade(s):

• On Tuesday, May 21st, Leigh Anderson sold 20,000 shares of Premier stock. The shares were sold at an average price of $19.41, for a total value of $388,200.00.

Premier Trading Down 0.7 %

NASDAQ:PINC opened at $18.37 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 $28.30. The business’s 50-day simple moving average is $19.18 and its 200 day simple moving average is $20.77. The stock has a market cap of $1.93 billion, a price-to-earnings ratio of 28.70, a price-to-earnings-growth ratio of 6.04 and a beta of 0.42.

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

Premier Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Saturday, June 15th. Shareholders of record on Saturday, June 1st were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 4.57%. The ex-dividend date was Friday, May 31st. Premier’s payout ratio is currently 131.25%.

Institutional Trading of Premier

Several institutional investors and hedge funds have recently bought and sold shares of the company. Abich Financial Wealth Management LLC raised its stake in 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 buying an additional 650 shares in the last quarter. Westwood Holdings Group Inc. raised its stake in Premier by 6.4% during the first quarter. Westwood Holdings Group Inc. now owns 339,808 shares of the company’s stock valued at $7,510,000 after buying an additional 20,416 shares in the last quarter. Clean Yield Group acquired a new stake in Premier during the first quarter valued at approximately $2,600,000. Swedbank AB acquired a new stake in Premier during the first quarter valued at approximately $241,000. Finally, Comerica Bank raised its stake in Premier by 0.9% during the first quarter. Comerica Bank now owns 77,422 shares of the company’s stock valued at $1,711,000 after buying an additional 728 shares in the last quarter. Institutional investors and hedge funds own 74.41% of the company’s stock.

Analysts Set New Price Targets

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

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.