Insider Selling: Premier, Inc. (NASDAQ:PINC) CEO Sells $52,500.00 in Stock

Premier, Inc. (NASDAQ:PINC) CEO Michael J. Alkire sold 2,625 shares of the stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $20.00, for a total value of $52,500.00. Following the sale, the chief executive officer now directly owns 580,073 shares of the company’s stock, valued at $11,601,460. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Premier Stock Up 1.7 %

PINC stock opened at $20.21 on Thursday. The company has a market cap of $2.12 billion, a price-to-earnings ratio of 31.58, a P/E/G ratio of 6.54 and a beta of 0.42. Premier, Inc. has a twelve month low of $17.95 and a twelve month high of $28.14. The business has a 50 day moving average price of $18.85 and a two-hundred day moving average price of $20.44. The company has a quick ratio of 0.82, a current ratio of 0.93 and a debt-to-equity ratio of 0.01.

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

Institutional Investors Weigh In On Premier

A number of institutional investors and hedge funds have recently modified their holdings of PINC. Mitsubishi UFJ Trust & Banking Corp bought a new position in Premier during the first quarter worth about $27,000. Global Retirement Partners LLC boosted its stake in shares of Premier by 153.3% during the 4th quarter. Global Retirement Partners LLC now owns 1,583 shares of the company’s stock worth $35,000 after acquiring an additional 958 shares during the period. Hexagon Capital Partners LLC increased its holdings in shares of Premier by 71.7% during the 4th quarter. Hexagon Capital Partners LLC now owns 1,660 shares of the company’s stock worth $37,000 after acquiring an additional 693 shares during the last quarter. Versant Capital Management Inc increased its holdings in shares of Premier by 265.2% during the 2nd quarter. Versant Capital Management Inc now owns 2,140 shares of the company’s stock worth $40,000 after acquiring an additional 1,554 shares during the last quarter. Finally, Abich Financial Wealth Management LLC lifted its holdings in Premier by 50.0% during the 1st 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 last quarter. 74.41% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on PINC shares. Robert W. Baird reduced their price target 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. 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 research note on Wednesday, May 8th. JPMorgan Chase & Co. dropped their price target on Premier from $23.00 to $21.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 28th. StockNews.com raised Premier from a “hold” rating to a “buy” rating in a research report on Thursday, May 9th. Finally, Canaccord Genuity Group lowered Premier from a “buy” rating to a “hold” rating and dropped their target price for the company from $27.00 to $21.00 in a research report on Wednesday, May 8th. 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. According to MarketBeat, Premier currently has an average 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.