Craig S. Mckasson Sells 10,000 Shares of Premier, Inc. (NASDAQ:PINC) Stock

Premier, Inc. (NASDAQ:PINC - Get Free Report) CFO Craig S. Mckasson sold 10,000 shares of the business's stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $20.41, for a total value of $204,100.00. Following the completion of the transaction, 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 legal filing with the SEC, which can be accessed through the SEC website.

Premier Price Performance

Shares of Premier stock traded down $0.46 on Friday, hitting $19.89. The company had a trading volume of 4,382,504 shares, compared to its average volume of 1,460,790. The company has a market cap of $1.99 billion, a PE ratio of 31.25, a PEG ratio of 9.79 and a beta of 0.40. Premier, Inc. has a 52 week low of $17.95 and a 52 week high of $23.01. The business has a 50-day simple moving average of $20.09 and a 200-day simple moving average of $20.04.

Premier (NASDAQ:PINC - Get Free Report) last released 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 business had revenue of $350.30 million during 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 quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.70 EPS. On average, equities research analysts predict that Premier, Inc. will post 1.04 earnings per share for the current fiscal year.

Premier Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Sunday, September 15th. Shareholders of record on Sunday, September 1st were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 4.22%. The ex-dividend date was Friday, August 30th. Premier's dividend payout ratio is currently 131.25%.

Analyst Ratings Changes

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

Institutional Investors Weigh In On Premier

Hedge funds have recently added to or reduced their stakes in the business. 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 worth $43,000 after acquiring an additional 650 shares during the last quarter. Arizona State Retirement System increased its stake in shares of 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 purchasing an additional 653 shares in the last quarter. Comerica Bank boosted its position 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 lifted its position in 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 purchasing an additional 1,095 shares during the last quarter. Finally, Parallel Advisors LLC lifted its holdings in shares of Premier by 141.2% in the 4th quarter. Parallel Advisors LLC now owns 1,980 shares of the company's stock worth $44,000 after acquiring an additional 1,159 shares during the last quarter. 74.41% of the stock is currently owned by institutional investors and hedge funds.

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.