Premier, Inc. (NASDAQ:PINC) CFO Sells $600,000.00 in Stock

Premier, Inc. (NASDAQ:PINC) CFO Craig S. Mckasson sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $20.00, for a total value of $600,000.00. Following the transaction, the chief financial officer now owns 288,110 shares in the company, valued at $5,762,200. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Premier Stock Up 1.7 %

Premier stock opened at $20.21 on Thursday. The firm has a market capitalization of $2.12 billion, a P/E ratio of 31.58, a P/E/G ratio of 6.48 and a beta of 0.42. The stock’s fifty day simple moving average is $18.85 and its 200-day simple moving average is $20.44. The company has a current ratio of 0.93, a quick ratio of 0.82 and a debt-to-equity ratio of 0.01. Premier, Inc. has a twelve month low of $17.95 and a twelve month high of $28.14.

Premier (NASDAQ:PINC) last posted its quarterly earnings results 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. Premier had a return on equity of 11.71% and a net margin of 6.01%. The company had revenue of $342.60 million for the quarter, compared to analysts’ expectations of $312.92 million. As a group, equities analysts expect that Premier, Inc. will post 1.96 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PINC. JPMorgan Chase & Co. decreased their price objective on Premier from $23.00 to $21.00 and set a “neutral” rating on the stock in a report on Tuesday, May 28th. Piper Sandler decreased their price objective on Premier from $24.00 to $22.00 and set a “neutral” rating on the stock in a report on Wednesday, May 8th. Robert W. Baird decreased their price objective on Premier from $25.00 to $22.00 and set a “neutral” rating on the stock in a report on Wednesday, May 8th. Canaccord Genuity Group cut Premier from a “buy” rating to a “hold” rating and decreased their price objective for the company from $27.00 to $21.00 in a report on Wednesday, May 8th. Finally, StockNews.com raised Premier from a “hold” rating to a “buy” rating in a research report on Thursday, May 9th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $23.50.

Institutional Trading of Premier

Hedge funds and other institutional investors have recently bought and sold shares of the business. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in Premier in the first quarter valued at $27,000. Global Retirement Partners LLC raised its stake in Premier by 153.3% in the fourth quarter. Global Retirement Partners LLC now owns 1,583 shares of the company’s stock valued at $35,000 after buying an additional 958 shares in the last quarter. Hexagon Capital Partners LLC raised its stake in Premier by 71.7% in the fourth quarter. Hexagon Capital Partners LLC now owns 1,660 shares of the company’s stock valued at $37,000 after buying an additional 693 shares in the last quarter. Abich Financial Wealth Management LLC grew its holdings in shares of Premier by 50.0% during the first quarter. Abich Financial Wealth Management LLC now owns 1,951 shares of the company’s stock worth $43,000 after purchasing an additional 650 shares during the last quarter. Finally, Parallel Advisors LLC grew its holdings in shares of Premier by 141.2% during the fourth quarter. Parallel Advisors LLC now owns 1,980 shares of the company’s stock worth $44,000 after purchasing an additional 1,159 shares during the last quarter. 74.41% of the stock is currently 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.