Insider Selling: Premier, Inc. (NASDAQ:PINC) Director Sells 1,136 Shares of Stock

Premier, Inc. (NASDAQ:PINC) Director John T. Bigalke sold 1,136 shares of the company’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $22.19, for a total transaction of $25,207.84. Following the completion of the transaction, the director now owns 23,846 shares in the company, valued at approximately $529,142.74. This trade represents a 4.55 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Premier Trading Down 1.6 %

PINC stock traded down $0.36 during mid-day trading on Friday, hitting $21.61. The stock had a trading volume of 549,473 shares, compared to its average volume of 1,307,958. The firm has a fifty day simple moving average of $21.09 and a 200 day simple moving average of $20.04. The firm has a market capitalization of $2.08 billion, a P/E ratio of 16.15, a P/E/G ratio of 9.98 and a beta of 0.42. Premier, Inc. has a 52 week low of $17.95 and a 52 week high of $23.56.

Premier (NASDAQ:PINC) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.25 by $0.09. Premier had a net margin of 11.41% and a return on equity of 10.74%. The business had revenue of $248.14 million during the quarter, compared to the consensus estimate of $232.85 million. During the same period in the previous year, the business earned $0.50 earnings per share. The company’s revenue was down 7.8% on a year-over-year basis. As a group, equities analysts expect that Premier, Inc. will post 1.09 earnings per share for the current fiscal year.

Premier Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 15th. Investors of record on Sunday, December 1st will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 3.89%. The ex-dividend date is Friday, November 29th. Premier’s dividend payout ratio (DPR) is presently 61.77%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC boosted its stake in shares of Premier by 137.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,347 shares of the company’s stock valued at $27,000 after purchasing an additional 780 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Premier in the third quarter valued at approximately $39,000. Quarry LP grew its stake in shares of Premier by 576.7% during the third quarter. Quarry LP now owns 2,179 shares of the company’s stock worth $44,000 after buying an additional 1,857 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in shares of Premier during the second quarter worth $47,000. Finally, Abich Financial Wealth Management LLC lifted its stake in shares of Premier by 37.0% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 2,672 shares of the company’s stock valued at $50,000 after acquiring an additional 721 shares during the last quarter. Institutional investors own 74.41% of the company’s stock.

Wall Street Analysts Forecast Growth

PINC has been the topic of a number of recent research reports. Robert W. Baird increased their target price on Premier from $19.00 to $20.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. Barclays lifted their target price on Premier from $20.00 to $24.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 6th. Benchmark downgraded shares of Premier from a “buy” rating to a “hold” rating in a research note on Monday, August 26th. Canaccord Genuity Group lifted their price objective on shares of Premier from $19.00 to $21.00 and gave the stock a “hold” rating in a research note on Wednesday, November 6th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Premier from $21.00 to $19.00 and set a “neutral” rating on the stock in a research report on Monday, September 9th. Ten analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $21.36.

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.