Leigh Anderson Sells 20,000 Shares of Premier, Inc. (NASDAQ:PINC) Stock

Premier, Inc. (NASDAQ:PINC) COO Leigh Anderson sold 20,000 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $18.63, for a total transaction of $372,600.00. Following the transaction, the chief operating officer now owns 163,928 shares of the company’s stock, valued at $3,053,978.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Leigh Anderson also recently made the following trade(s):

• On Tuesday, May 21st, Leigh Anderson sold 20,000 shares of Premier stock. The stock was sold at an average price of $19.41, for a total transaction of $388,200.00.

Premier Trading Down 0.7 %

Shares of PINC stock opened at $18.37 on Thursday. The company has a current ratio of 0.93, a quick ratio of 0.82 and a debt-to-equity ratio of 0.01. Premier, Inc. has a twelve month low of $17.95 and a twelve month high of $28.30. The company’s 50-day moving average price is $19.23 and its 200-day moving average price is $20.79. The stock has a market cap of $1.93 billion, a price-to-earnings ratio of 28.70, a PEG ratio of 6.09 and a beta of 0.42.

Premier (NASDAQ:PINC) last posted its earnings results on Tuesday, May 7th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.07. Premier had a net margin of 6.01% and a return on equity of 11.71%. The company had revenue of $342.60 million for the quarter, compared to analyst estimates of $312.92 million. As a group, equities analysts predict that Premier, Inc. will post 1.96 earnings per share for the current year.

Premier Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, June 15th. Investors of record on Saturday, June 1st were given a $0.21 dividend. The ex-dividend date of this dividend was Friday, May 31st. This represents a $0.84 annualized dividend and a yield of 4.57%. Premier’s payout ratio is 131.25%.

Institutional Investors Weigh In On Premier

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in shares of Premier by 12.9% during the 3rd quarter. Vanguard Group Inc. now owns 14,013,386 shares of the company’s stock worth $301,288,000 after purchasing an additional 1,597,067 shares during the period. Bank of Nova Scotia boosted its stake in Premier by 711.0% during the fourth quarter. Bank of Nova Scotia now owns 163,006 shares of the company’s stock worth $3,645,000 after buying an additional 142,907 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of 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 raised its stake in shares of Premier by 79.5% in the 1st 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 period. Finally, Quadrant Capital Group LLC raised its stake in shares of Premier by 41.9% in the 4th 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 period. Institutional investors and hedge funds own 74.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. StockNews.com upgraded Premier from a “hold” rating to a “buy” rating in a report on Thursday, May 9th. Piper Sandler lowered their price target on Premier from $24.00 to $22.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 8th. Canaccord Genuity Group cut Premier from a “buy” rating to a “hold” rating and dropped their price target for the stock from $27.00 to $21.00 in a research report on Wednesday, May 8th. Canaccord Genuity Group restated a “hold” rating and issued a $21.00 price objective (down previously from $27.00) on shares of Premier in a report on Wednesday, May 8th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Premier from $23.00 to $21.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 28th. One equities 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 stock. Based on data from MarketBeat.com, the stock 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.