Clark Estates Inc. NY Sells 10,900 Shares of Premier, Inc. (NASDAQ:PINC)

Clark Estates Inc. NY decreased its position in shares of Premier, Inc. (NASDAQ:PINC) by 7.5% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 135,150 shares of the company’s stock after selling 10,900 shares during the quarter. Clark Estates Inc. NY’s holdings in Premier were worth $2,703,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. CANADA LIFE ASSURANCE Co boosted its stake in Premier by 4.0% in the first quarter. CANADA LIFE ASSURANCE Co now owns 131,037 shares of the company’s stock valued at $2,896,000 after acquiring an additional 5,062 shares during the last quarter. Quadrature Capital Ltd bought a new stake in Premier in the first quarter valued at about $210,000. Price T Rowe Associates Inc. MD lifted its stake in Premier by 6.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 59,461 shares of the company’s stock valued at $1,315,000 after buying an additional 3,583 shares during the period. Bayesian Capital Management LP bought a new position in Premier during the first quarter worth about $446,000. Finally, Comerica Bank grew its position in shares of Premier by 0.9% during the 1st quarter. Comerica Bank now owns 77,422 shares of the company’s stock worth $1,711,000 after buying an additional 728 shares during the period. 74.41% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Benchmark lowered shares of Premier from a “buy” rating to a “hold” rating in a research note on Monday, August 26th. StockNews.com cut Premier from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. reduced their target price on shares of Premier from $21.00 to $19.00 and set a “neutral” rating for the company in a research note on Monday, September 9th. Canaccord Genuity Group boosted their price target on Premier from $19.00 to $21.00 and gave the company a “hold” rating in a report on Wednesday, November 6th. Finally, Robert W. Baird upped their price objective on Premier from $19.00 to $20.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. Ten analysts have rated the stock with a hold rating, According to data from MarketBeat, Premier has an average rating of “Hold” and an average price target of $21.36.

Premier Stock Performance

PINC opened at $22.75 on Wednesday. The business’s 50-day simple moving average is $20.67 and its 200 day simple moving average is $19.88. Premier, Inc. has a 52-week low of $17.95 and a 52-week high of $23.56. The firm has a market capitalization of $2.19 billion, a PE ratio of 16.73, a PEG ratio of 10.42 and a beta of 0.40.

Premier (NASDAQ:PINC) last released its quarterly earnings data on Tuesday, November 5th. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.25 by $0.09. The company had revenue of $248.14 million during the quarter, compared to the consensus estimate of $232.85 million. Premier had a return on equity of 10.74% and a net margin of 11.41%. The firm’s revenue for the quarter was down 7.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.50 EPS. On average, research analysts forecast that Premier, Inc. will post 1.09 earnings per share for the current year.

Premier Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st will be issued a $0.21 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.84 annualized dividend and a dividend yield of 3.69%. Premier’s dividend payout ratio is currently 61.77%.

Insider Transactions at Premier

In other Premier news, COO Leigh Anderson sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $19.62, for a total value of $392,400.00. Following the transaction, the chief operating officer now directly owns 131,707 shares of the company’s stock, valued at $2,584,091.34. This trade represents a 13.18 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael J. Alkire sold 17,415 shares of Premier stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $23.16, for a total transaction of $403,331.40. Following the completion of the transaction, the chief executive officer now directly owns 520,728 shares in the company, valued at $12,060,060.48. This trade represents a 3.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 141,537 shares of company stock worth $2,915,552. 0.96% of the stock is owned by insiders.

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.