Leigh Anderson Sells 20,000 Shares of Premier, Inc. (NASDAQ:PINC) Stock

Premier, Inc. (NASDAQ:PINC) COO Leigh Anderson sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $21.88, for a total value of $437,600.00. Following the transaction, the chief operating officer now owns 111,707 shares of the company’s stock, valued at $2,444,149.16. This represents a 15.19 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Tuesday, October 1st, Leigh Anderson sold 20,000 shares of Premier stock. The shares were sold at an average price of $19.62, for a total transaction of $392,400.00.

Premier Stock Down 1.7 %

Shares of PINC traded down $0.37 during trading hours on Monday, reaching $21.39. The company’s stock had a trading volume of 309,495 shares, compared to its average volume of 1,307,179. The firm has a market cap of $2.06 billion, a price-to-earnings ratio of 15.73 and a beta of 0.42. The company has a 50 day moving average of $21.59 and a two-hundred day moving average of $20.25. Premier, Inc. has a 1-year low of $17.95 and a 1-year high of $23.56.

Premier (NASDAQ:PINC) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.25 by $0.09. Premier had a net margin of 11.41% and a return on equity of 10.74%. The business had revenue of $248.14 million for the quarter, compared to analysts’ expectations of $232.85 million. During the same period in the previous year, the company posted $0.50 EPS. Premier’s revenue was down 7.8% on a year-over-year basis. As a group, analysts forecast that Premier, Inc. will post 1.09 EPS for the current fiscal year.

Premier Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.93%. The ex-dividend date of this dividend was Friday, November 29th. Premier’s dividend payout ratio (DPR) is presently 61.76%.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Benchmark downgraded shares of Premier from a “buy” rating to a “hold” rating in a research report on Monday, August 26th. Barclays upped their target price on Premier from $20.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 6th. 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 report on Wednesday, November 6th. Robert W. Baird raised their target price on Premier from $19.00 to $20.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. Finally, JPMorgan Chase & Co. cut 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. Ten investment analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $21.36.

Institutional Investors Weigh In On Premier

Several large investors have recently made changes to their positions in PINC. Y Intercept Hong Kong Ltd boosted its holdings in Premier by 2.4% in the third quarter. Y Intercept Hong Kong Ltd now owns 20,409 shares of the company’s stock worth $408,000 after purchasing an additional 478 shares in the last quarter. Arizona State Retirement System increased its holdings in shares of Premier by 2.0% during the 2nd quarter. Arizona State Retirement System now owns 33,542 shares of the company’s stock valued at $626,000 after acquiring an additional 653 shares during the last quarter. Abich Financial Wealth Management LLC increased its holdings 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 valued at $50,000 after acquiring an additional 721 shares during the last quarter. GAMMA Investing LLC raised 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. Finally, Impact Partnership Wealth LLC lifted its holdings in Premier by 7.1% in the 3rd quarter. Impact Partnership Wealth LLC now owns 11,945 shares of the company’s stock worth $239,000 after purchasing an additional 795 shares during the last quarter. Institutional investors own 74.41% of the company’s stock.

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.