Premier, Inc. (NASDAQ:PINC) CFO Sells $200,000.00 in Stock

Premier, Inc. (NASDAQ:PINC) CFO Craig S. Mckasson sold 10,000 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $20.00, for a total transaction of $200,000.00. Following the sale, the chief financial officer now owns 278,110 shares of the company’s stock, valued at approximately $5,562,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Premier Price Performance

Shares of PINC opened at $20.13 on Friday. Premier, Inc. has a one year low of $17.95 and a one year high of $26.07. The stock’s fifty day moving average is $19.25 and its 200-day moving average is $20.23. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.82 and a current ratio of 0.93. The firm has a market capitalization of $2.11 billion, a price-to-earnings ratio of 31.45, a price-to-earnings-growth ratio of 6.57 and a beta of 0.42.

Premier Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, September 15th. Shareholders of record on Sunday, September 1st will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.17%. Premier’s dividend payout ratio (DPR) is 131.25%.

Institutional Trading of Premier

A number of institutional investors have recently made changes to their positions in PINC. Vanguard Group Inc. lifted its position in Premier by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 14,213,088 shares of the company’s stock worth $317,805,000 after purchasing an additional 199,702 shares during the period. Pacer Advisors Inc. raised its stake in shares of Premier by 384.3% in the 2nd quarter. Pacer Advisors Inc. now owns 6,311,089 shares of the company’s stock worth $117,828,000 after buying an additional 5,007,851 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Premier by 14.9% in the second quarter. Dimensional Fund Advisors LP now owns 5,951,043 shares of the company’s stock valued at $111,105,000 after buying an additional 773,207 shares during the period. Norges Bank bought a new position in Premier during the fourth quarter valued at about $51,271,000. Finally, Goldman Sachs Group Inc. grew its holdings in Premier by 139.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,121,702 shares of the company’s stock worth $47,441,000 after acquiring an additional 1,235,017 shares during the period. 74.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PINC has been the subject of a number of recent research reports. Canaccord Genuity Group reaffirmed a “hold” rating and set a $21.00 price objective (down previously from $27.00) on shares of Premier in a research report on Wednesday, May 8th. Piper Sandler dropped their price target on Premier from $24.00 to $22.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 8th. JPMorgan Chase & Co. cut their price target on Premier from $23.00 to $21.00 and set a “neutral” rating on the stock in a report on Tuesday, May 28th. Robert W. Baird lowered their price objective on Premier from $25.00 to $22.00 and set a “neutral” rating for the company in a research note on Wednesday, May 8th. Finally, StockNews.com upgraded Premier from a “hold” rating to a “buy” rating in a research note on Thursday, May 9th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $23.50.

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.