Premier, Inc. (NASDAQ:PINC) COO Sells $372,600.00 in Stock

Premier, Inc. (NASDAQ:PINC) COO Leigh Anderson sold 20,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $18.63, for a total value of $372,600.00. Following the transaction, the chief operating officer now owns 163,928 shares in the company, valued at $3,053,978.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Leigh Anderson also recently made the following trade(s):

• On Tuesday, May 21st, Leigh Anderson sold 20,000 shares of Premier stock. The stock was sold at an average price of $19.41, for a total value of $388,200.00.

Premier Stock Down 0.7 %

PINC stock opened at $18.37 on Friday. Premier, Inc. has a twelve month low of $17.95 and a twelve month high of $28.30. The company has a market cap of $1.93 billion, a PE ratio of 28.70, a price-to-earnings-growth ratio of 6.04 and a beta of 0.42. The business’s 50-day simple moving average is $19.18 and its 200 day simple moving average is $20.77. The company has a quick ratio of 0.82, a current ratio of 0.93 and a debt-to-equity ratio of 0.01.

Premier (NASDAQ:PINC) last released its quarterly earnings data on Tuesday, May 7th. The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.07. The company had revenue of $342.60 million for the quarter, compared to the consensus estimate of $312.92 million. Premier had a return on equity of 11.71% and a net margin of 6.01%. On average, research analysts anticipate that Premier, Inc. will post 1.96 earnings per share for the current year.

Premier Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Saturday, June 15th. Shareholders of record on Saturday, June 1st were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 4.57%. The ex-dividend date was Friday, May 31st. Premier’s payout ratio is 131.25%.

Analyst Ratings Changes

PINC has been the topic of a number of recent analyst reports. StockNews.com upgraded Premier from a “hold” rating to a “buy” rating in a research note on Thursday, May 9th. Canaccord Genuity Group lowered Premier from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $27.00 to $21.00 in a research note on Wednesday, May 8th. Piper Sandler dropped their price objective on Premier from $24.00 to $22.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 8th. Robert W. Baird dropped their price objective on Premier from $25.00 to $22.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 8th. Finally, Canaccord Genuity Group reiterated a “hold” rating and issued a $21.00 price objective (down from $27.00) on shares of Premier in a research note on Wednesday, May 8th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $23.50.

Institutional Investors Weigh In On Premier

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Premier by 12.9% during the third quarter. Vanguard Group Inc. now owns 14,013,386 shares of the company’s stock valued at $301,288,000 after purchasing an additional 1,597,067 shares in the last quarter. Bank of Nova Scotia boosted its holdings in shares of Premier by 711.0% in the 4th quarter. Bank of Nova Scotia now owns 163,006 shares of the company’s stock worth $3,645,000 after acquiring an additional 142,907 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Premier by 10.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,413,931 shares of the company’s stock worth $31,615,000 after acquiring an additional 129,813 shares in the last quarter. Carolina Wealth Advisors LLC boosted its holdings in shares of Premier by 79.5% in the 1st quarter. Carolina Wealth Advisors LLC now owns 264,696 shares of the company’s stock worth $5,850,000 after acquiring an additional 117,242 shares in the last quarter. Finally, Quadrant Capital Group LLC boosted its holdings in shares of Premier by 41.9% in the 4th quarter. Quadrant Capital Group LLC now owns 7,452 shares of the company’s stock worth $167,000 after acquiring an additional 2,200 shares in the last quarter. 74.41% of the stock is owned by institutional investors and hedge funds.

About Premier

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.