Premier, Inc. (NASDAQ:PINC - Get Free Report) CEO Michael J. Alkire sold 18,374 shares of the company's stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $21.80, for a total value of $400,553.20. Following the sale, the chief executive officer now owns 502,354 shares of the company's stock, valued at approximately $10,951,317.20. This represents a 3.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Premier Trading Down 0.2 %
Shares of PINC stock opened at $21.70 on Friday. Premier, Inc. has a 1-year low of $17.95 and a 1-year high of $23.56. The stock has a market cap of $2.09 billion, a price-to-earnings ratio of 15.96 and a beta of 0.42. The stock has a 50-day moving average of $21.31 and a 200-day moving average of $20.13.
Premier (NASDAQ:PINC - Get Free Report) last released its earnings results on Tuesday, November 5th. The company reported $0.34 earnings per share for the quarter, beating analysts' consensus estimates of $0.25 by $0.09. The business had revenue of $248.14 million during the quarter, compared to the consensus estimate of $232.85 million. Premier had a net margin of 11.41% and a return on equity of 10.74%. The company's revenue for the quarter was down 7.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.50 EPS. Sell-side analysts forecast that Premier, Inc. will post 1.09 earnings per share for the current year.
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The company also recently announced a quarterly dividend, which will be paid on Sunday, December 15th. Investors of record on Sunday, December 1st will be issued a $0.21 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.84 annualized dividend and a yield of 3.87%. Premier's payout ratio is 61.77%.
Analyst Ratings Changes
A number of research analysts have recently commented on the stock. Barclays increased their target price on shares of Premier from $20.00 to $24.00 and gave the stock an "equal weight" rating in a report on Wednesday, November 6th. Benchmark lowered shares of Premier from a "buy" rating to a "hold" rating in a research report on Monday, August 26th. JPMorgan Chase & Co. lowered their price target on shares of Premier from $21.00 to $19.00 and set a "neutral" rating for the company in a report on Monday, September 9th. Robert W. Baird raised their price objective on Premier from $19.00 to $20.00 and gave the company a "neutral" rating in a report on Wednesday, November 6th. Finally, Canaccord Genuity Group lifted their price target on Premier from $19.00 to $21.00 and gave the company a "hold" rating in a research note on Wednesday, November 6th. Ten equities research analysts have rated the stock with a hold rating, According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $21.36.
View Our Latest Report on PINC
Institutional Inflows and Outflows
Several hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC increased its stake in shares of Premier by 137.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,347 shares of the company's stock valued at $27,000 after acquiring an additional 780 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Premier in the third quarter worth $39,000. Quarry LP increased its stake in Premier by 576.7% in the third quarter. Quarry LP now owns 2,179 shares of the company's stock valued at $44,000 after purchasing an additional 1,857 shares in the last quarter. Meeder Asset Management Inc. acquired a new position in shares of Premier during the second quarter valued at about $47,000. Finally, Abich Financial Wealth Management LLC boosted its position in shares of Premier by 37.0% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 2,672 shares of the company's stock worth $50,000 after purchasing an additional 721 shares in the last quarter. 74.41% of the stock is owned by institutional investors.
Premier Company Profile
(
Get Free Report)
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.
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