Insider Selling: Premier, Inc. (NASDAQ:PINC) Director Sells 1,137 Shares of Stock

Premier, Inc. (NASDAQ:PINC - Get Free Report) Director John T. Bigalke sold 1,137 shares of the business's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $23.03, for a total value of $26,185.11. Following the completion of the transaction, the director now owns 28,673 shares of the company's stock, valued at $660,339.19. This represents a 3.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Premier Trading Down 0.8%

Shares of NASDAQ:PINC traded down $0.19 during trading on Friday, reaching $22.93. The company's stock had a trading volume of 911,580 shares, compared to its average volume of 1,262,826. Premier, Inc. has a 12 month low of $17.23 and a 12 month high of $23.56. The firm's 50 day simple moving average is $21.28 and its two-hundred day simple moving average is $20.73. The stock has a market capitalization of $1.89 billion, a PE ratio of -229.28 and a beta of 0.57.

Premier Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Sunday, June 15th. Investors of record on Sunday, June 1st will be issued a dividend of $0.21 per share. The ex-dividend date is Friday, May 30th. This represents a $0.84 annualized dividend and a yield of 3.66%. Premier's payout ratio is 147.37%.

Institutional Trading of Premier

Institutional investors have recently added to or reduced their stakes in the company. Barclays PLC grew its stake in shares of Premier by 32.2% during the third quarter. Barclays PLC now owns 154,128 shares of the company's stock valued at $3,081,000 after buying an additional 37,551 shares during the last quarter. KBC Group NV boosted its holdings in Premier by 38.1% during the 4th quarter. KBC Group NV now owns 5,589 shares of the company's stock valued at $118,000 after acquiring an additional 1,542 shares during the period. Caprock Group LLC bought a new position in Premier in the 4th quarter valued at $292,000. Keystone Financial Group Inc. purchased a new stake in Premier in the fourth quarter worth $37,000. Finally, Empowered Funds LLC increased its stake in Premier by 15.9% in the fourth quarter. Empowered Funds LLC now owns 495,985 shares of the company's stock worth $10,515,000 after purchasing an additional 67,909 shares during the period. Institutional investors own 74.41% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on PINC. Canaccord Genuity Group increased their target price on Premier from $19.00 to $22.00 and gave the company a "hold" rating in a report on Thursday, May 8th. Robert W. Baird raised their price objective on Premier from $19.00 to $22.00 and gave the stock a "neutral" rating in a research note on Thursday, May 15th. Finally, Piper Sandler increased 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. Seven analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Premier presently has a consensus rating of "Hold" and a consensus price target of $22.20.

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.