Premier, Inc. (NASDAQ:PINC) CFO Sells $204,100.00 in Stock

Premier, Inc. (NASDAQ:PINC) CFO Craig S. Mckasson sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $20.41, for a total transaction of $204,100.00. Following the sale, the chief financial officer now directly owns 263,699 shares of the company’s stock, valued at approximately $5,382,096.59. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Premier Stock Down 0.9 %

Premier stock traded down $0.18 during trading hours on Friday, hitting $20.17. The stock had a trading volume of 280,207 shares, compared to its average volume of 1,438,138. The business’s 50 day simple moving average is $20.09 and its 200-day simple moving average is $20.04. Premier, Inc. has a one year low of $17.95 and a one year high of $23.01. The stock has a market cap of $2.11 billion, a price-to-earnings ratio of 31.80, a P/E/G ratio of 9.31 and a beta of 0.40.

Premier (NASDAQ:PINC) last issued its quarterly earnings data on Tuesday, August 20th. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.25. Premier had a net margin of 8.88% and a return on equity of 11.69%. The business had revenue of $350.30 million during the quarter, compared to analyst estimates of $308.88 million. During the same quarter last year, the business earned $0.70 EPS. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. Research analysts anticipate that Premier, Inc. will post 1.04 EPS for the current fiscal year.

Premier Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, September 15th. Investors of record on Sunday, September 1st were paid a $0.21 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.84 annualized dividend and a dividend yield of 4.16%. Premier’s dividend payout ratio is 131.25%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on PINC shares. Benchmark downgraded shares of Premier from a “buy” rating to a “hold” rating in a research report on Monday, August 26th. Robert W. Baird lowered their price target on Premier from $22.00 to $19.00 and set a “neutral” rating for the company in a report on Wednesday, August 21st. StockNews.com lowered Premier from a “buy” rating to a “hold” rating in a research note on Thursday, September 12th. JPMorgan Chase & Co. decreased their target price on Premier from $21.00 to $19.00 and set a “neutral” rating on the stock in a research report on Monday, September 9th. Finally, Canaccord Genuity Group dropped their target price on shares of Premier from $21.00 to $20.00 and set a “hold” rating for the company in a report on Wednesday, August 21st. Ten research analysts have rated the stock with a hold rating, According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $21.94.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of PINC. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in Premier during the 1st quarter valued at approximately $27,000. Abich Financial Wealth Management LLC boosted its stake in shares of Premier by 50.0% in 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. Parallel Advisors LLC increased its position in shares of Premier by 141.2% during the fourth quarter. Parallel Advisors LLC now owns 1,980 shares of the company’s stock worth $44,000 after buying an additional 1,159 shares during the period. Versant Capital Management Inc increased its position in shares of 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 buying an additional 1,554 shares during the period. Finally, Meeder Asset Management Inc. bought a new position in Premier during the second quarter worth $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.