Insider Selling: Premier, Inc. (NASDAQ:PINC) CEO Sells $396,443.52 in Stock

Premier, Inc. (NASDAQ:PINC) CEO Michael J. Alkire sold 18,771 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $21.12, for a total transaction of $396,443.52. Following the transaction, the chief executive officer now directly owns 543,927 shares in the company, valued at $11,487,738.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Premier Price Performance

Shares of PINC opened at $20.68 on Friday. The stock has a market cap of $2.17 billion, a PE ratio of 32.31, a PEG ratio of 6.90 and a beta of 0.42. The company has a quick ratio of 0.82, a current ratio of 0.93 and a debt-to-equity ratio of 0.01. The business has a 50-day simple moving average of $19.06 and a two-hundred day simple moving average of $20.37. Premier, Inc. has a 12-month low of $17.95 and a 12-month high of $28.03.

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

Wall Street Analyst Weigh In

A number of equities analysts have commented on PINC shares. StockNews.com upgraded Premier from a “hold” rating to a “buy” rating in a research note on Thursday, May 9th. Canaccord Genuity Group reaffirmed a “hold” rating and issued a $21.00 price target (down previously from $27.00) on shares of Premier in a research note on Wednesday, May 8th. JPMorgan Chase & Co. decreased their target price on shares of Premier from $23.00 to $21.00 and set a “neutral” rating on the stock in a report on Tuesday, May 28th. Piper Sandler cut their price target on shares of Premier from $24.00 to $22.00 and set a “neutral” rating for the company in a report on Wednesday, May 8th. Finally, Robert W. Baird reduced their price target on shares of Premier from $25.00 to $22.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 8th. 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. According to MarketBeat, Premier presently has a consensus rating of “Hold” and an average price target of $23.50.

Institutional Trading of Premier

Institutional investors and hedge funds have recently bought and sold shares of the stock. Mitsubishi UFJ Trust & Banking Corp bought a new stake in shares of Premier in the 1st quarter valued at about $27,000. Global Retirement Partners LLC lifted its stake in shares of Premier by 153.3% in the fourth quarter. Global Retirement Partners LLC now owns 1,583 shares of the company’s stock worth $35,000 after acquiring an additional 958 shares during the period. Hexagon Capital Partners LLC boosted its holdings in Premier by 71.7% in the fourth quarter. Hexagon Capital Partners LLC now owns 1,660 shares of the company’s stock valued at $37,000 after acquiring an additional 693 shares during the last quarter. Abich Financial Wealth Management LLC increased its position in Premier by 50.0% during the 1st quarter. Abich Financial Wealth Management LLC now owns 1,951 shares of the company’s stock valued at $43,000 after purchasing an additional 650 shares during the period. Finally, Parallel Advisors LLC raised its holdings in Premier by 141.2% during the 4th quarter. Parallel Advisors LLC now owns 1,980 shares of the company’s stock worth $44,000 after purchasing an additional 1,159 shares during the last quarter. 74.41% 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. 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.