Insider Selling: Premier, Inc. (NASDAQ:PINC) Director Sells 6,629 Shares of Stock

Premier, Inc. (NASDAQ:PINC - Get Free Report) Director Helen M. Boudreau sold 6,629 shares of Premier stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $19.85, for a total transaction of $131,585.65. Following the sale, the director now owns 16,067 shares of the company's stock, valued at $318,929.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Premier Stock Down 0.6 %

Premier stock traded down $0.11 during midday trading on Thursday, reaching $19.78. The company's stock had a trading volume of 1,347,533 shares, compared to its average volume of 1,577,277. The company has a market cap of $2.37 billion, a P/E ratio of 30.91, a P/E/G ratio of 5.01 and a beta of 0.39. 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 $20.98 and a 200-day simple moving average of $21.21. Premier, Inc. has a fifty-two week low of $18.65 and a fifty-two week high of $28.30.

Premier Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, June 15th. Shareholders of record on Saturday, June 1st will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.84 dividend on an annualized basis and a yield of 4.25%. Premier's payout ratio is currently 131.25%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Invenomic Capital Management LP lifted its position in Premier by 37.7% in the first quarter. Invenomic Capital Management LP now owns 1,027,437 shares of the company's stock valued at $22,706,000 after acquiring an additional 281,131 shares during the last quarter. Bayesian Capital Management LP purchased a new stake in shares of Premier in the 1st quarter valued at about $446,000. Price T Rowe Associates Inc. MD boosted its position in shares of Premier by 6.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 59,461 shares of the company's stock valued at $1,315,000 after purchasing an additional 3,583 shares during the period. Quadrature Capital Ltd purchased a new position in Premier during the 1st quarter worth approximately $210,000. Finally, Westwood Holdings Group Inc. increased its position in Premier by 6.4% during the first quarter. Westwood Holdings Group Inc. now owns 339,808 shares of the company's stock worth $7,510,000 after buying an additional 20,416 shares during the period. Institutional investors and hedge funds own 74.41% of the company's stock.

Wall Street Analyst Weigh In

PINC has been the subject of a number of research reports. SVB Leerink assumed coverage on Premier in a research note on Monday, February 26th. They issued a "market perform" rating and a $22.50 price objective for the company. Canaccord Genuity Group reiterated a "hold" rating and set a $21.00 price target (down from $27.00) on shares of Premier in a research note on Wednesday, May 8th. Canaccord Genuity Group lowered shares of Premier from a "buy" rating to a "hold" rating and lowered their price objective for the company from $27.00 to $21.00 in a research note on Wednesday, May 8th. StockNews.com upgraded shares of Premier from a "hold" rating to a "buy" rating in a report on Thursday, May 9th. Finally, Leerink Partnrs reiterated a "market perform" rating on shares of Premier in a report on Monday, February 26th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Premier currently has a consensus rating of "Hold" and an average target price of $23.50.

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.