Premier Inc (NASDAQ:PINC) CFO Sells $3,173,005.26 in Stock

Premier Inc (NASDAQ:PINC) CFO Craig S. Mckasson sold 84,366 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $37.61, for a total transaction of $3,173,005.26. Following the sale, the chief financial officer now directly owns 166,284 shares in the company, valued at $6,253,941.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Shares of NASDAQ PINC traded up $1.54 during mid-day trading on Tuesday, reaching $39.06. The company had a trading volume of 1,713,774 shares, compared to its average volume of 727,147. Premier Inc has a one year low of $27.37 and a one year high of $42.00. The firm has a market cap of $4.34 billion, a price-to-earnings ratio of 17.21, a PEG ratio of 1.43 and a beta of 0.37. The business’s 50-day simple moving average is $34.94 and its 200 day simple moving average is $36.31.

Premier (NASDAQ:PINC) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.68 EPS for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.02. Premier had a negative return on equity of 51.84% and a net margin of 17.74%. The business had revenue of $302.40 million during the quarter, compared to the consensus estimate of $295.50 million. During the same quarter in the previous year, the firm earned $0.65 earnings per share. Premier’s revenue for the quarter was up 3.3% compared to the same quarter last year. Equities research analysts predict that Premier Inc will post 2.67 EPS for the current fiscal year.

PINC has been the subject of a number of analyst reports. UBS Group downgraded shares of Premier from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $44.00 to $38.00 in a research report on Thursday, October 31st. Robert W. Baird cut shares of Premier from an “outperform” rating to a “neutral” rating and set a $41.00 target price on the stock. in a report on Monday, November 11th. Evercore ISI reiterated a “hold” rating on shares of Premier in a research note on Monday, November 11th. Jefferies Financial Group set a $43.00 price target on Premier and gave the company a “buy” rating in a research note on Thursday, September 26th. Finally, Credit Suisse Group reissued a “neutral” rating and issued a $42.00 price target (down from $43.00) on shares of Premier in a report on Tuesday, August 13th. Ten research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $40.22.

A number of large investors have recently made changes to their positions in PINC. Mackenzie Financial Corp lifted its holdings 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 purchasing an additional 1,005,871 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of 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 period. Nuveen Asset Management LLC purchased a new position in Premier in the 2nd quarter valued at approximately $23,463,000. Wells Fargo & Company MN raised its holdings in Premier by 385.3% during the 2nd quarter. Wells Fargo & Company MN now owns 702,320 shares of the company’s stock valued at $27,468,000 after acquiring an additional 557,604 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in Premier by 20.8% during the 2nd quarter. Renaissance Technologies LLC now owns 3,166,309 shares of the company’s stock valued at $123,834,000 after acquiring an additional 546,200 shares during the period. Institutional investors and hedge funds own 54.16% of the company’s stock.

Premier Company Profile

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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