In a recent transaction, Michael J. Alkire, President and CEO of Premier, Inc. (NASDAQ:PINC), a $2.1 billion healthcare solutions company currently rated as financially "GREAT" by InvestingPro, sold 18,374 shares of the company's Class A common stock. The shares were sold at a weighted average price of $21.80, resulting in a total transaction value of $400,553. This sale was conducted under a Rule 10b5-1 trading plan, which Alkire had adopted earlier this year on February 23. According to InvestingPro analysis, the stock appears undervalued, with a strong free cash flow yield of 10% and a consistent dividend growth track record of 4 consecutive years.
Following this transaction, Alkire retains direct ownership of 502,354 shares in the company. The sale was executed on December 11, 2024, with the price per share ranging from $21.61 to $21.95. Alkire has committed to providing detailed information regarding the number of shares sold at each price upon request. For deeper insights into Premier's valuation and 8 additional ProTips, investors can access the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Premier Inc. has disclosed mixed Q1 results, with total net revenue falling 8% to $248.1 million, yet slightly exceeding expectations. The Supply Chain Services segment showed strong performance, while the Performance Services revenue fell short of the company's projections. GAAP net income included a $57 million gain from a derivative lawsuit settlement, resulting in a total of $72.9 million. The company also reported a cash dividend payout of $21.3 million and a repurchase of $23 million of Class A common shares. In recent developments, shareholders approved the election of two Class II Directors, ratified the company's independent auditor, and approved executive compensation. Premier Inc. continues to maintain its full-year guidance despite an anticipated sequential decline in net administrative fees revenue in Q2. Lastly, the company announced the retirement of CFO Craig McKasson in December after a 27-year tenure.
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