Premier, Inc. (NASDAQ:PINC) COO Sells $392,400.00 in Stock

Premier, Inc. (NASDAQ:PINC) COO Leigh Anderson sold 20,000 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $19.62, for a total transaction of $392,400.00. Following the sale, the chief operating officer now owns 131,707 shares in the company, valued at approximately $2,584,091.34. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Premier Stock Performance

Shares of Premier stock opened at $19.19 on Friday. The firm has a 50-day moving average of $20.07 and a 200-day moving average of $19.92. Premier, Inc. has a 52-week low of $17.95 and a 52-week high of $23.01. The stock has a market cap of $2.01 billion, a PE ratio of 29.98, a PEG ratio of 9.42 and a beta of 0.41.

Premier (NASDAQ:PINC) last posted its quarterly earnings data on Tuesday, August 20th. The company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.25. The firm 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 company’s revenue was up 2.9% on a year-over-year basis. During the same quarter last year, the company earned $0.70 EPS. Equities research analysts predict that Premier, Inc. will post 1.04 earnings per share for the current fiscal year.

Premier Announces Dividend

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

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Premier

Hedge funds have recently bought and sold shares of the company. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in shares of Premier during the 1st quarter worth approximately $27,000. Versant Capital Management Inc raised its stake in Premier by 265.2% during the second 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 in the last quarter. 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 worth $43,000 after acquiring an additional 650 shares in the last quarter. Parallel Advisors LLC boosted its stake in shares of Premier by 141.2% in the 4th quarter. Parallel Advisors LLC now owns 1,980 shares of the company’s stock valued at $44,000 after purchasing an additional 1,159 shares in the last quarter. Finally, Meeder Asset Management Inc. bought a new stake in shares of Premier during the 2nd quarter valued at approximately $47,000. 74.41% of the stock is owned by institutional investors.

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.