Premier, Inc. (NASDAQ:PINC) General Counsel Sells $37,923.60 in Stock

Premier, Inc. (NASDAQ:PINC - Get Free Report) General Counsel David L. Klatsky sold 1,870 shares of the firm's stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $20.28, for a total transaction of $37,923.60. Following the sale, the general counsel now owns 100,597 shares in the company, valued at $2,040,107.16. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Premier Trading Up 0.4 %

Shares of PINC stock traded up $0.08 during trading hours on Wednesday, reaching $20.74. The stock had a trading volume of 1,100,098 shares, compared to its average volume of 1,475,542. The stock's fifty day simple moving average is $19.72 and its 200 day simple moving average is $20.11. Premier, Inc. has a 12 month low of $17.95 and a 12 month high of $24.27. The firm has a market capitalization of $2.08 billion, a PE ratio of 32.41, a PEG ratio of 9.79 and a beta of 0.40.

Premier (NASDAQ:PINC - Get Free Report) last announced its quarterly earnings data on Tuesday, August 20th. The company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.25. The firm had revenue of $350.30 million during the quarter, compared to the consensus estimate of $308.88 million. Premier had a return on equity of 11.69% and a net margin of 8.88%. The business's revenue was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.70 earnings per share. As a group, equities research analysts anticipate that Premier, Inc. will post 1.02 EPS for the current fiscal year.

Premier Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Sunday, September 15th. Shareholders of record on Sunday, September 1st will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 4.05%. The ex-dividend date of this dividend is Friday, August 30th. Premier's dividend payout ratio is currently 131.25%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Van ECK Associates Corp grew its stake in shares of Premier by 22.4% in the 4th quarter. Van ECK Associates Corp now owns 3,289 shares of the company's stock worth $74,000 after buying an additional 601 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Premier by 2.4% during the 4th quarter. Victory Capital Management Inc. now owns 531,327 shares of the company's stock worth $11,880,000 after purchasing an additional 12,363 shares during the period. Natixis Advisors L.P. grew its holdings in Premier by 10.8% during the 4th quarter. Natixis Advisors L.P. now owns 19,504 shares of the company's stock valued at $436,000 after purchasing an additional 1,901 shares during the last quarter. LSV Asset Management raised its position in Premier by 3,979.3% in the 4th quarter. LSV Asset Management now owns 118,300 shares of the company's stock worth $2,645,000 after purchasing an additional 115,400 shares during the period. Finally, National Bank of Canada FI lifted its stake in Premier by 690.6% in the fourth quarter. National Bank of Canada FI now owns 352,600 shares of the company's stock worth $8,015,000 after purchasing an additional 308,000 shares during the last quarter. 74.41% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on PINC shares. Piper Sandler dropped their target price on shares of Premier from $24.00 to $22.00 and set a "neutral" rating on the stock in a report on Wednesday, May 8th. Benchmark cut Premier from a "buy" rating to a "hold" rating in a research note on Monday, August 26th. Robert W. Baird lowered their target price on Premier from $22.00 to $19.00 and set a "neutral" rating for the company in a research note on Wednesday, August 21st. JPMorgan Chase & Co. decreased their price target on shares of Premier from $23.00 to $21.00 and set a "neutral" rating on the stock in a report on Tuesday, May 28th. Finally, Canaccord Genuity Group lowered Premier from a "buy" rating to a "hold" rating and cut their price target for the company from $27.00 to $21.00 in a research note on Wednesday, May 8th. Ten analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $22.19.

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.