Premier, Inc. (PINC) Shares Down 7.5% Following Insider Selling

Shares of Premier, Inc. (NASDAQ:PINC) fell 7.5% on Monday after an insider sold shares in the company. The stock traded as low as $27.15 and last traded at $27.79. 3,210,500 shares traded hands during mid-day trading, an increase of 567% from the average session volume of 481,552 shares. The stock had previously closed at $30.05.

Specifically, COO Michael J. Alkire sold 25,000 shares of the company’s stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $29.90, for a total transaction of $747,500.00. Following the transaction, the chief operating officer now directly owns 180,550 shares of the company’s stock, valued at $5,398,445. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Susan D. Devore sold 40,000 shares of the company’s stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $32.74, for a total value of $1,309,600.00. Following the transaction, the chief executive officer now directly owns 466,427 shares in the company, valued at $15,270,819.98. The disclosure for this sale can be found here. Insiders have sold 92,264 shares of company stock worth $2,962,701 over the last three months. 17.52% of the stock is owned by insiders.

PINC has been the topic of several recent analyst reports. Zacks Investment Research raised Premier from a “sell” rating to a “hold” rating in a research report on Tuesday, September 5th. BidaskClub lowered Premier from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 23rd. William Blair reissued an “ourperform” rating on shares of Premier in a research report on Tuesday, August 22nd. KeyCorp reissued a “buy” rating and set a $42.00 price target on shares of Premier in a research report on Wednesday, October 4th. Finally, Piper Jaffray Companies reissued a “hold” rating on shares of Premier in a research report on Tuesday, August 22nd. Two analysts have rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the stock. Premier presently has a consensus rating of “Hold” and a consensus price target of $38.71.

The company has a market cap of $3,878.15, a PE ratio of 15.52, a price-to-earnings-growth ratio of 1.24 and a beta of 0.46.

Premier (NASDAQ:PINC) last issued its earnings results on Monday, November 6th. The company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.05). Premier had a negative return on equity of 18.31% and a net margin of 17.99%. The firm had revenue of $390.56 million during the quarter, compared to analyst estimates of $389.56 million. During the same period in the previous year, the company earned $0.41 earnings per share. The business’s revenue for the quarter was up 24.7% on a year-over-year basis. research analysts anticipate that Premier, Inc. will post 1.87 earnings per share for the current fiscal year.

Premier declared that its Board of Directors has authorized a stock repurchase program on Tuesday, October 31st that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

A number of hedge funds have recently modified their holdings of PINC. Janus Henderson Group PLC acquired a new position in Premier in the 2nd quarter worth about $25,285,000. Jennison Associates LLC increased its holdings in shares of Premier by 188.2% during the 2nd quarter. Jennison Associates LLC now owns 712,104 shares of the company’s stock valued at $25,636,000 after acquiring an additional 465,012 shares during the last quarter. APG Asset Management N.V. acquired a new position in shares of Premier during the 3rd quarter valued at about $12,706,000. First Trust Advisors LP increased its holdings in shares of Premier by 130.2% during the 3rd quarter. First Trust Advisors LP now owns 658,789 shares of the company’s stock valued at $21,457,000 after acquiring an additional 372,650 shares during the last quarter. Finally, Citadel Advisors LLC increased its holdings in shares of Premier by 37.7% during the 2nd quarter. Citadel Advisors LLC now owns 1,193,181 shares of the company’s stock valued at $42,954,000 after acquiring an additional 326,899 shares during the last quarter. 38.22% of the stock is currently owned by institutional investors.

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Premier Company Profile

Premier, Inc is a healthcare improvement company. The Company is uniting an alliance of approximately 3,900 United States hospitals and health systems and approximately 150,000 other providers and 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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