Premier, Inc. (NASDAQ:PINC) CEO Sells $349,758.75 in Stock

Premier, Inc. (NASDAQ:PINC) CEO Michael J. Alkire sold 17,375 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $20.13, for a total transaction of $349,758.75. Following the sale, the chief executive officer now owns 562,698 shares of the company’s stock, valued at $11,327,110.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Premier Stock Up 1.9 %

PINC stock opened at $20.79 on Friday. The stock has a market capitalization of $2.18 billion, a price-to-earnings ratio of 32.48, a price-to-earnings-growth ratio of 6.71 and a beta of 0.42. The company has a 50-day moving average of $18.89 and a two-hundred day moving average of $20.41. Premier, Inc. has a 52-week low of $17.95 and a 52-week high of $28.14. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.93 and a quick ratio of 0.82.

Premier (NASDAQ:PINC) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.07. The business had revenue of $342.60 million during the quarter, compared to analysts’ expectations of $312.92 million. Premier had a return on equity of 11.71% and a net margin of 6.01%. As a group, equities research analysts anticipate that Premier, Inc. will post 1.96 EPS for the current year.

Institutional Investors Weigh In On Premier

Hedge funds have recently modified their holdings of the business. Norges Bank bought a new position in Premier during the fourth quarter worth $51,271,000. Vanguard Group Inc. increased its holdings in shares of Premier by 12.9% during the 3rd quarter. Vanguard Group Inc. now owns 14,013,386 shares of the company’s stock worth $301,288,000 after purchasing an additional 1,597,067 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Premier by 139.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,121,702 shares of the company’s stock worth $47,441,000 after purchasing an additional 1,235,017 shares during the period. US Bancorp DE raised its position in shares of Premier by 8,726.8% during the first quarter. US Bancorp DE now owns 374,434 shares of the company’s stock valued at $8,275,000 after buying an additional 370,192 shares during the last quarter. Finally, National Bank of Canada FI lifted its stake in shares of Premier by 690.6% in the fourth quarter. National Bank of Canada FI now owns 352,600 shares of the company’s stock valued at $8,015,000 after buying an additional 308,000 shares during the period. 74.41% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Piper Sandler decreased their target price on shares of Premier from $24.00 to $22.00 and set a “neutral” rating for the company in a research note on Wednesday, May 8th. StockNews.com upgraded shares of Premier from a “hold” rating to a “buy” rating in a research note on Thursday, May 9th. Canaccord Genuity Group restated a “hold” rating and set a $21.00 price target (down previously from $27.00) on shares of Premier in a research note on Wednesday, May 8th. Canaccord Genuity Group lowered shares of Premier from a “buy” rating to a “hold” rating and reduced their price objective for the company from $27.00 to $21.00 in a research note on Wednesday, May 8th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Premier from $23.00 to $21.00 and set a “neutral” rating for the company in a report on Tuesday, May 28th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $23.50.

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.