Premier, Inc. (NASDAQ:PINC) COO Michael J. Alkire sold 50,000 shares of the stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $35.17, for a total transaction of $1,758,500.00. Following the completion of the transaction, the chief operating officer now owns 188,708 shares in the company, valued at $6,636,860.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Shares of Premier, Inc. (PINC) opened at 34.99 on Friday. Premier, Inc. has a 12 month low of $28.27 and a 12 month high of $35.84. The company has a market capitalization of $1.81 billion, a P/E ratio of 16.50 and a beta of 0.48. The stock’s 50 day moving average is $34.57 and its 200 day moving average is $32.20.
Premier (NASDAQ:PINC) last announced its quarterly earnings results on Monday, May 8th. The company reported $0.52 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.05. Premier had a net margin of 31.41% and a negative return on equity of 13.95%. The firm had revenue of $379.80 million for the quarter, compared to the consensus estimate of $401.71 million. During the same period in the prior year, the firm posted $0.44 earnings per share. The firm’s quarterly revenue was up 27.2% compared to the same quarter last year. On average, equities analysts predict that Premier, Inc. will post $1.91 EPS for the current fiscal year.
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A number of hedge funds have recently made changes to their positions in PINC. Integre Asset Management LLC purchased a new stake in shares of Premier during the fourth quarter worth about $485,000. Pacad Investment Ltd. increased its stake in shares of Premier by 202.0% in the fourth quarter. Pacad Investment Ltd. now owns 12,080 shares of the company’s stock worth $367,000 after buying an additional 8,080 shares during the period. Bayesian Capital Management LP purchased a new stake in shares of Premier during the fourth quarter worth about $850,000. Zebra Capital Management LLC increased its stake in shares of Premier by 5.9% in the fourth quarter. Zebra Capital Management LLC now owns 43,489 shares of the company’s stock worth $1,320,000 after buying an additional 2,410 shares during the period. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Premier during the fourth quarter worth about $266,000.
PINC has been the topic of several recent research reports. Zacks Investment Research downgraded shares of Premier from a “buy” rating to a “hold” rating in a research report on Wednesday, March 8th. Evercore ISI downgraded shares of Premier from a “hold” rating to an “underperform” rating in a research report on Friday, March 3rd. Bank of America Corporation upgraded shares of Premier from an “underperform” rating to a “buy” rating and set a $37.00 price target on the stock in a research report on Tuesday, March 28th. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $40.00 price target on shares of Premier in a research report on Thursday, April 13th. One analyst has rated the stock with a sell rating, two have given a hold rating and twelve have given a buy rating to the company. Premier has a consensus rating of “Buy” and a consensus target price of $38.55.
Premier Company Profile
Premier, Inc is a healthcare improvement company. The Company is uniting an alliance of approximately 3,750 United States hospitals and more than 130,000 other provider organizations to transform healthcare. The Company operates healthcare group purchasing organizations and also provides integrated data and analytics, supply chain solutions, advisory services, performance improvement collaborative and other services.
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