Premier Inc (NASDAQ:PINC) CFO Sells $301,594.49 in Stock

Premier Inc (NASDAQ:PINC) CFO Craig S. Mckasson sold 8,149 shares of the company’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $37.01, for a total transaction of $301,594.49. Following the completion of the transaction, the chief financial officer now owns 120,200 shares in the company, valued at $4,448,602. The sale was disclosed in a filing with the SEC, which is available through this link.

Craig S. Mckasson also recently made the following trade(s):

  • On Monday, August 26th, Craig S. Mckasson sold 3,013 shares of Premier stock. The stock was sold at an average price of $37.02, for a total transaction of $111,541.26.

Shares of PINC traded up $0.06 during mid-day trading on Wednesday, hitting $36.65. The company’s stock had a trading volume of 643,834 shares, compared to its average volume of 712,776. The company’s 50-day moving average is $33.03 and its 200-day moving average is $36.30. Premier Inc has a 52-week low of $27.37 and a 52-week high of $42.00. The firm has a market capitalization of $4.47 billion, a price-to-earnings ratio of 16.14, a PEG ratio of 1.48 and a beta of 0.34.

Premier (NASDAQ:PINC) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.68 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.02. The company had revenue of $302.40 million for the quarter, compared to analyst estimates of $295.50 million. Premier had a net margin of 17.74% and a negative return on equity of 51.84%. Premier’s revenue was up 3.3% compared to the same quarter last year. During the same period last year, the company posted $0.65 earnings per share. Research analysts expect that Premier Inc will post 2.66 EPS for the current year.

Several analysts have recently weighed in on the stock. BidaskClub raised shares of Premier from a “sell” rating to a “hold” rating in a research note on Wednesday, October 23rd. Credit Suisse Group reissued a “neutral” rating and issued a $42.00 price objective (down previously from $43.00) on shares of Premier in a research note on Tuesday, August 13th. Zacks Investment Research downgraded Premier from a “buy” rating to a “hold” rating in a report on Saturday. Robert W. Baird lowered Premier from an “outperform” rating to a “neutral” rating and set a $41.00 target price for the company. in a research report on Monday, November 11th. Finally, Canaccord Genuity upgraded Premier from a “hold” rating to a “buy” rating and set a $36.00 target price for the company in a report on Tuesday, October 15th. Eleven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $40.00.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Mackenzie Financial Corp raised its position in shares of Premier by 141.6% in the 2nd quarter. Mackenzie Financial Corp now owns 1,716,406 shares of the company’s stock worth $67,129,000 after acquiring an additional 1,005,871 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in Premier by 19.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 6,056,294 shares of the company’s stock valued at $175,148,000 after purchasing an additional 979,096 shares during the last quarter. Nuveen Asset Management LLC purchased a new position in Premier in the second quarter valued at about $23,463,000. Wells Fargo & Company MN grew its stake in Premier by 385.3% in the second quarter. Wells Fargo & Company MN now owns 702,320 shares of the company’s stock valued at $27,468,000 after purchasing an additional 557,604 shares during the last quarter. Finally, Renaissance Technologies LLC raised its holdings in Premier by 20.8% in the second quarter. Renaissance Technologies LLC now owns 3,166,309 shares of the company’s stock worth $123,834,000 after purchasing an additional 546,200 shares in the last quarter. 50.44% 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. The company operates through two segments, Supply Chain Services and Performance Services. The Supply Chain Services segment offers its members with 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 document shredding services and software-as-a-service informatics products.

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Insider Buying and Selling by Quarter for Premier (NASDAQ:PINC)

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