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 stock in a transaction that occurred on 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 directly owns 90,597 shares in the company, valued at approximately $1,769,359.41. This represents a 9.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Premier Price Performance

Shares of PINC opened at $19.54 on Friday. Premier, Inc. has a 12 month low of $17.23 and a 12 month high of $23.56. The stock’s 50-day moving average is $19.11 and its two-hundred day moving average is $20.46. The stock has a market cap of $1.78 billion, a PE ratio of -195.38 and a beta of 0.39.

Premier Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Saturday, March 15th. Investors of record on Saturday, March 1st were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 4.30%. The ex-dividend date of this dividend was Friday, February 28th. Premier’s dividend payout ratio (DPR) is presently -840.00%.

Hedge Funds Weigh In On Premier

A number of institutional investors and hedge funds have recently bought and sold shares of PINC. Brooklyn Investment Group lifted its position in shares of Premier by 61,750.0% during the fourth quarter. Brooklyn Investment Group now owns 1,237 shares of the company’s stock worth $26,000 after purchasing an additional 1,235 shares in the last quarter. SRS Capital Advisors Inc. lifted its holdings in Premier by 157.8% in the 4th quarter. SRS Capital Advisors Inc. now owns 1,284 shares of the company’s stock worth $27,000 after buying an additional 786 shares in the last quarter. Keystone Financial Group Inc. acquired a new position in Premier in the 4th quarter worth $37,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Premier during the third quarter valued at about $39,000. Finally, Smartleaf Asset Management LLC increased its position in shares of Premier by 297.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,906 shares of the company’s stock worth $40,000 after acquiring an additional 1,427 shares during the last quarter. Hedge funds and other institutional investors own 74.41% of the company’s stock.

Analysts Set New Price Targets

PINC has been the topic of several research reports. Canaccord Genuity Group cut their target price on Premier from $21.00 to $19.00 and set a “hold” rating on the stock in a research report on Wednesday, February 5th. Robert W. Baird cut their price objective on Premier from $20.00 to $19.00 and set a “neutral” rating on the stock in a report on Wednesday, February 5th. Finally, Piper Sandler dropped their target price on shares of Premier from $21.00 to $19.00 and set a “neutral” rating for the company in a research report on Wednesday, February 5th. Eight investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $20.17.

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.