Premier, Inc. (NASDAQ:PINC) CFO Craig S. Mckasson Sells 10,000 Shares

Premier, Inc. (NASDAQ:PINC) CFO Craig S. Mckasson sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $20.00, for a total transaction of $200,000.00. Following the sale, the chief financial officer now owns 278,110 shares in the company, valued at approximately $5,562,200. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Premier Stock Up 2.0 %

Shares of NASDAQ PINC traded up $0.39 during midday trading on Thursday, reaching $20.05. 267,260 shares of the company’s stock traded hands, compared to its average volume of 1,482,825. The company has a quick ratio of 0.82, a current ratio of 0.93 and a debt-to-equity ratio of 0.01. The stock’s 50 day simple moving average is $19.20 and its 200-day simple moving average is $20.24. Premier, Inc. has a one year low of $17.95 and a one year high of $26.46. The company has a market cap of $2.10 billion, a price-to-earnings ratio of 31.23, a P/E/G ratio of 6.57 and a beta of 0.42.

Premier Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, September 15th. Stockholders of record on Sunday, September 1st will be paid a dividend of $0.21 per share. The ex-dividend date is Friday, August 30th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.19%. Premier’s dividend payout ratio is presently 131.25%.

Hedge Funds Weigh In On Premier

Hedge funds and other institutional investors have recently modified their holdings of the business. Bank of Nova Scotia boosted its stake in shares of Premier by 711.0% during the fourth quarter. Bank of Nova Scotia now owns 163,006 shares of the company’s stock valued at $3,645,000 after purchasing an additional 142,907 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Premier by 10.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,413,931 shares of the company’s stock valued at $31,615,000 after acquiring an additional 129,813 shares during the last quarter. Carolina Wealth Advisors LLC lifted its position in Premier by 79.5% during the first quarter. Carolina Wealth Advisors LLC now owns 264,696 shares of the company’s stock valued at $5,850,000 after acquiring an additional 117,242 shares during the last quarter. Quadrant Capital Group LLC lifted its position in Premier by 41.9% during the fourth quarter. Quadrant Capital Group LLC now owns 7,452 shares of the company’s stock valued at $167,000 after acquiring an additional 2,200 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC lifted its position in Premier by 31.2% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 532,915 shares of the company’s stock valued at $11,916,000 after acquiring an additional 126,640 shares during the last quarter. 74.41% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on PINC shares. StockNews.com raised shares of Premier from a “hold” rating to a “buy” rating in a report on Thursday, May 9th. Robert W. Baird cut their price objective on shares of Premier from $25.00 to $22.00 and set a “neutral” rating for the company in a report on Wednesday, May 8th. Canaccord Genuity Group reaffirmed a “hold” rating and set a $21.00 price objective (down from $27.00) on shares of Premier in a report on Wednesday, May 8th. Piper Sandler cut their price objective 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. Finally, JPMorgan Chase & Co. cut their target price on shares of Premier from $23.00 to $21.00 and set a “neutral” rating for the company in a report on Tuesday, May 28th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Premier 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.