Premier, Inc. (NASDAQ:PINC) CEO Michael J. Alkire Sells 1,264 Shares

Premier, Inc. (NASDAQ:PINC) CEO Michael J. Alkire sold 1,264 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $20.01, for a total value of $25,292.64. Following the completion of the sale, the chief executive officer now directly owns 558,143 shares of the company’s stock, valued at $11,168,441.43. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Premier Trading Down 1.4 %

Shares of PINC traded down $0.27 during midday trading on Tuesday, reaching $19.73. 212,137 shares of the stock were exchanged, compared to its average volume of 1,436,923. The company’s 50 day moving average is $20.16 and its two-hundred day moving average is $19.96. The company has a market capitalization of $2.07 billion, a P/E ratio of 31.25, a PEG ratio of 9.23 and a beta of 0.40. Premier, Inc. has a 52 week low of $17.95 and a 52 week high of $23.01.

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 the consensus estimate of $0.44 by $0.25. The company had revenue of $350.30 million for the quarter, compared to analyst estimates of $308.88 million. Premier had a net margin of 8.88% and a return on equity of 11.69%. Premier’s revenue was up 2.9% compared to the same quarter last year. During the same period last year, the company posted $0.70 earnings per share. On average, sell-side analysts expect that Premier, Inc. will post 1.04 EPS for the current year.

Premier Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 15th. Investors of record on Sunday, September 1st were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 4.26%. The ex-dividend date of this dividend was Friday, August 30th. Premier’s payout ratio is currently 131.25%.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Premier

A number of large investors have recently added to or reduced their stakes in PINC. Abich Financial Wealth Management LLC lifted its holdings in shares of 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. Arizona State Retirement System boosted its holdings in Premier by 2.0% in the second quarter. Arizona State Retirement System now owns 33,542 shares of the company’s stock worth $626,000 after acquiring an additional 653 shares in the last quarter. Comerica Bank grew its stake in shares of Premier by 0.9% during the first quarter. Comerica Bank now owns 77,422 shares of the company’s stock worth $1,711,000 after acquiring an additional 728 shares during the last quarter. Caxton Associates LP increased its holdings in shares of Premier by 1.6% during the second quarter. Caxton Associates LP now owns 69,168 shares of the company’s stock valued at $1,291,000 after acquiring an additional 1,095 shares in the last quarter. Finally, Parallel Advisors LLC raised its position 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 during the last quarter. 74.41% of the stock is currently 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.