Premier, Inc. (NASDAQ:PINC) Insider Sells $163,620.84 in Stock

Premier, Inc. (NASDAQ:PINC) insider Andy Brailo sold 8,331 shares of the stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $19.64, for a total value of $163,620.84. Following the sale, the insider now owns 119,203 shares of the company’s stock, valued at approximately $2,341,146.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Premier Stock Performance

Shares of PINC stock opened at $19.04 on Friday. The stock has a market cap of $2.00 billion, a PE ratio of 29.75, a price-to-earnings-growth ratio of 6.50 and a beta of 0.39. The business has a 50-day simple moving average of $20.80 and a 200-day simple moving average of $21.21. 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, Inc. has a 52-week low of $18.65 and a 52-week high of $28.30.

Premier Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Saturday, June 15th. Investors of record on Saturday, June 1st will be issued a $0.21 dividend. The ex-dividend date is Friday, May 31st. This represents a $0.84 dividend on an annualized basis and a yield of 4.41%. Premier’s payout ratio is 131.25%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PINC. Leerink Partnrs reiterated a “market perform” rating on shares of Premier in a research report on Monday, February 26th. StockNews.com upgraded Premier from a “hold” rating to a “buy” rating in a research report on Thursday, May 9th. Piper Sandler cut their target price on Premier from $24.00 to $22.00 and set a “neutral” rating for the company in a research report on Wednesday, May 8th. Robert W. Baird cut their target price on Premier from $25.00 to $22.00 and set a “neutral” rating for the company in a research report on Wednesday, May 8th. Finally, Canaccord Genuity Group cut Premier from a “buy” rating to a “hold” rating and cut their target price for the stock from $27.00 to $21.00 in a research report on Wednesday, May 8th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Premier has a consensus rating of “Hold” and a consensus target price of $23.50.

Hedge Funds Weigh In On Premier

A number of large investors have recently bought and sold shares of PINC. Norges Bank acquired a new position in Premier in the 4th quarter worth about $51,271,000. Pacer Advisors Inc. raised its holdings in Premier by 65.8% in the 4th quarter. Pacer Advisors Inc. now owns 5,609,924 shares of the company’s stock worth $125,438,000 after purchasing an additional 2,225,828 shares during the period. Vanguard Group Inc. raised its holdings in shares of 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 acquiring an additional 1,597,067 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Premier by 139.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,121,702 shares of the company’s stock valued at $47,441,000 after acquiring an additional 1,235,017 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of Premier by 7,070.1% in the third quarter. Principal Financial Group Inc. now owns 633,188 shares of the company’s stock valued at $13,614,000 after acquiring an additional 624,357 shares in the last quarter. Institutional investors and hedge funds own 74.41% of the company’s stock.

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.