Insider Selling: Premier, Inc. (NASDAQ:PINC) General Counsel Sells 10,000 Shares of Stock

Premier, Inc. (NASDAQ:PINC) General Counsel David L. Klatsky sold 10,000 shares of the business’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $19.53, for a total transaction of $195,300.00. Following the transaction, the general counsel now owns 90,597 shares in the company, valued at approximately $1,769,359.41. This trade represents a 9.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Premier Trading Down 0.5 %

Premier stock opened at $19.44 on Friday. The business’s 50 day simple moving average is $19.05 and its 200 day simple moving average is $20.45. Premier, Inc. has a 12 month low of $17.23 and a 12 month high of $23.56. The company has a market cap of $1.78 billion, a price-to-earnings ratio of -194.38 and a beta of 0.39.

Premier Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st were given a dividend of $0.21 per share. The ex-dividend date was Friday, February 28th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.32%. Premier’s dividend payout ratio is presently -840.00%.

Institutional Investors Weigh In On Premier

Several large investors have recently added to or reduced their stakes in the company. Brooklyn Investment Group lifted its holdings in Premier by 61,750.0% during the fourth quarter. Brooklyn Investment Group now owns 1,237 shares of the company’s stock valued at $26,000 after purchasing an additional 1,235 shares during the last quarter. SRS Capital Advisors Inc. raised its position in shares of Premier by 157.8% in the fourth quarter. SRS Capital Advisors Inc. now owns 1,284 shares of the company’s stock valued at $27,000 after purchasing an additional 786 shares during the period. Keystone Financial Group Inc. purchased a new stake in shares of Premier during the 4th quarter valued at approximately $37,000. Smartleaf Asset Management LLC boosted its holdings in Premier by 297.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,906 shares of the company’s stock worth $40,000 after buying an additional 1,427 shares during the period. Finally, Wilmington Savings Fund Society FSB purchased a new position in Premier in the 3rd quarter valued at approximately $39,000. Hedge funds and other institutional investors own 74.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Robert W. Baird dropped their target price on shares of Premier from $20.00 to $19.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 5th. Piper Sandler dropped their price target on Premier from $21.00 to $19.00 and set a “neutral” rating on the stock in a report on Wednesday, February 5th. Finally, Canaccord Genuity Group reduced their price objective on Premier from $21.00 to $19.00 and set a “hold” rating for the company in a research note on Wednesday, February 5th. Eight equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $20.17.

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.