Insider Selling: Premier, Inc. (NASDAQ:PINC) Director Sells 2,000 Shares of Stock

Premier, Inc. (NASDAQ:PINC - Get Free Report) Director Helen M. Boudreau sold 2,000 shares of Premier stock in a transaction on Friday, May 30th. The shares were sold at an average price of $22.88, for a total value of $45,760.00. Following the completion of the sale, the director now directly owns 18,668 shares of the company's stock, valued at approximately $427,123.84. This represents a 9.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Premier Price Performance

Shares of NASDAQ PINC traded down $0.04 during midday trading on Thursday, hitting $23.13. 611,146 shares of the company's stock were exchanged, compared to its average volume of 1,260,586. The stock's 50 day moving average price is $21.13 and its 200-day moving average price is $20.73. The firm has a market cap of $1.90 billion, a P/E ratio of -231.28 and a beta of 0.54. Premier, Inc. has a twelve month low of $17.23 and a twelve month high of $23.56.

Premier Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, June 15th. Stockholders of record on Sunday, June 1st will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 3.63%. The ex-dividend date is Friday, May 30th. Premier's dividend payout ratio is presently 147.37%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on PINC shares. Piper Sandler lifted their target price on Premier from $19.00 to $24.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 21st. Canaccord Genuity Group lifted their target price on Premier from $19.00 to $22.00 and gave the stock a "hold" rating in a research report on Thursday, May 8th. Finally, Robert W. Baird lifted their target price on Premier from $19.00 to $22.00 and gave the stock a "neutral" rating in a research report on Thursday, May 15th. Seven analysts have rated the stock with a hold rating, According to MarketBeat, Premier presently has a consensus rating of "Hold" and an average price target of $22.20.

Institutional Trading of Premier

Several hedge funds and other institutional investors have recently modified their holdings of PINC. SRS Capital Advisors Inc. raised its holdings in Premier by 157.8% during the fourth quarter. SRS Capital Advisors Inc. now owns 1,284 shares of the company's stock valued at $27,000 after buying an additional 786 shares in the last quarter. Keystone Financial Group Inc. bought a new position in shares of Premier in the fourth quarter worth about $37,000. Smartleaf Asset Management LLC increased its stake in shares of Premier by 297.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,906 shares of the company's stock worth $40,000 after purchasing an additional 1,427 shares during the period. Van ECK Associates Corp increased its stake in shares of Premier by 28.0% in the fourth quarter. Van ECK Associates Corp now owns 2,041 shares of the company's stock worth $43,000 after purchasing an additional 446 shares during the period. Finally, Aster Capital Management DIFC Ltd bought a new position in shares of Premier in the fourth quarter worth about $52,000. 74.41% of the stock is currently owned by hedge funds and other institutional investors.

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.