Premier, Inc. (NASDAQ:PINC) General Counsel Sells $249,730.68 in Stock

Premier, Inc. (NASDAQ:PINC) General Counsel David L. Klatsky sold 10,982 shares of the stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $22.74, for a total value of $249,730.68. Following the sale, the general counsel now owns 76,093 shares of the company’s stock, valued at $1,730,354.82. This represents a 12.61 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Premier Stock Down 1.0 %

Premier stock opened at $23.07 on Friday. The company’s 50-day moving average price is $19.51 and its 200-day moving average price is $20.54. The company has a market cap of $2.11 billion, a PE ratio of -230.68 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, June 15th. Shareholders of record on Sunday, June 1st will be given a dividend of $0.21 per share. The ex-dividend date is Friday, May 30th. This represents a $0.84 dividend on an annualized basis and a yield of 3.64%. Premier’s dividend payout ratio (DPR) is presently -840.00%.

Analyst Upgrades and Downgrades

PINC has been the subject of a number of research analyst reports. Robert W. Baird cut their price objective on shares of Premier from $20.00 to $19.00 and set a “neutral” rating for the company in a report on Wednesday, February 5th. Piper Sandler reduced their price target on shares of 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 increased their price objective on shares of Premier from $19.00 to $22.00 and gave the company a “hold” rating in a report on Thursday. Seven research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $20.60.

Hedge Funds Weigh In On Premier

A number of institutional investors and hedge funds have recently modified their holdings of PINC. Barclays PLC boosted its stake in Premier by 32.2% during the third quarter. Barclays PLC now owns 154,128 shares of the company’s stock worth $3,081,000 after buying an additional 37,551 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in shares of Premier during the 3rd quarter worth about $39,000. Nordea Investment Management AB raised its position in Premier by 21.0% in the 4th quarter. Nordea Investment Management AB now owns 256,492 shares of the company’s stock worth $5,465,000 after purchasing an additional 44,480 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in Premier by 34.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 33,627 shares of the company’s stock worth $673,000 after purchasing an additional 8,560 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in shares of Premier by 109.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 468,524 shares of the company’s stock valued at $9,933,000 after buying an additional 245,239 shares during the period. Hedge funds and other institutional investors own 74.41% of the company’s stock.

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.