Premier, Inc. (NASDAQ:PINC) General Counsel David L. Klatsky Sells 10,000 Shares

Premier, Inc. (NASDAQ:PINC - Get Free Report) General Counsel David L. Klatsky sold 10,000 shares of the company's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $19.53, for a total value of $195,300.00. Following the completion of the transaction, the general counsel now owns 90,597 shares in the company, valued at approximately $1,769,359.41. The trade was a 9.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Premier Trading Down 1.1 %

Shares of Premier stock traded down $0.22 on Tuesday, reaching $18.94. The stock had a trading volume of 1,596,604 shares, compared to its average volume of 1,255,768. The business's 50 day moving average is $18.82 and its two-hundred day moving average is $20.42. The company has a market cap of $1.73 billion, a P/E ratio of -189.38 and a beta of 0.51. Premier, Inc. has a 1 year low of $17.23 and a 1 year high of $23.56.

Premier Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 4.44%. The ex-dividend date of this dividend was Friday, February 28th. Premier's payout ratio is -840.00%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its position in Premier by 5.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,741,784 shares of the company's stock worth $34,836,000 after buying an additional 97,458 shares in the last quarter. FMR LLC grew its holdings in shares of Premier by 91.8% during the third quarter. FMR LLC now owns 23,609 shares of the company's stock worth $472,000 after purchasing an additional 11,300 shares in the last quarter. Walleye Capital LLC purchased a new position in shares of Premier during the third quarter worth about $828,000. Verition Fund Management LLC bought a new position in shares of Premier in the third quarter worth approximately $1,414,000. Finally, HighTower Advisors LLC raised its stake in Premier by 27.5% in the third quarter. HighTower Advisors LLC now owns 32,430 shares of the company's stock valued at $660,000 after purchasing an additional 6,990 shares in the last quarter. Institutional investors own 74.41% of the company's stock.

Analysts Set New Price Targets

PINC has been the topic of a number of research reports. Piper Sandler lowered their price objective on Premier from $21.00 to $19.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 5th. Canaccord Genuity Group lowered their price target on shares of Premier from $21.00 to $19.00 and set a "hold" rating on the stock in a research report on Wednesday, February 5th. Finally, Robert W. Baird cut their price objective on shares of Premier from $20.00 to $19.00 and set a "neutral" rating for the company in a report on Wednesday, February 5th. Eight analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $20.17.

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.