In a recent transaction, Anderson Leigh, the Chief Operating Officer of Premier, Inc. (NASDAQ:PINC), sold 20,000 shares of Class A Common Stock. According to InvestingPro data, Premier maintains a GREAT financial health score, with strong profitability metrics and moderate debt levels. The sale, which took place on December 20, was executed under a Rule 10b5-1 trading plan and resulted in a total value of $437,600. The shares were sold at a weighted average price of $21.88, with individual transaction prices ranging from $21.53 to $22.06. Following this transaction, Leigh retains ownership of 111,707 shares in the company. InvestingPro analysis suggests the stock is currently undervalued, with a strong free cash flow yield of 10% and a consistent dividend growth track record of 4 consecutive years. For deeper insights into Premier's valuation and 8 additional ProTips, visit InvestingPro.
In other recent news, Premier Inc. has announced mixed Q1 results, with total net revenue falling 8% to $248.1 million, slightly exceeding expectations. The company's Supply Chain Services segment showed robust performance, while the Performance Services revenue fell short of projections. Notably, GAAP net income included a $57 million gain from a derivative lawsuit settlement, culminating in a total of $72.9 million.
In recent developments, Premier's shareholders approved board nominees and executive pay at its Annual Meeting of Stockholders. The election of two Class II Directors, the ratification of the company's independent auditor, Ernst & Young LLP, and approval of executive compensation were among the outcomes.
Furthermore, the company disclosed a cash dividend payout of $21.3 million and a repurchase of $23 million of Class A common shares. Despite an anticipated sequential decline in net administrative fees revenue in Q2, Premier maintains its full-year guidance, citing strong member relationships and high contract renewal rates as key to their strategy. The company also announced CFO Craig McKasson's impending retirement in December after a 27-year tenure. Premier Inc. plans to continue its disciplined approach to capital deployment while exploring growth opportunities.
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