Helen M. Boudreau, a director at Premier, Inc. (NASDAQ:PINC), a $2 billion healthcare improvement company with a GREAT financial health score according to InvestingPro, has sold 2,500 shares of Class A Common Stock, according to a recent SEC filing. The shares were sold at a weighted average price of $21.42, amounting to a total transaction value of $53,550. Following this transaction, Boudreau now holds 20,668 shares directly. The sale was conducted under a Rule 10b5-1 trading plan, which Boudreau adopted in February 2024. Notably, while this insider sale occurred, InvestingPro data shows management has been actively buying back shares, and the stock currently offers a 3.95% dividend yield. According to InvestingPro's Fair Value analysis, Premier appears to be trading below its intrinsic value. Get comprehensive insider trading analysis and 7 additional ProTips with an InvestingPro subscription.
In other recent news, Premier Inc., a healthcare management services company, disclosed mixed Q1 results with total net revenue falling 8% to $248.1 million, slightly exceeding expectations. The Supply Chain Services segment showed robust performance, while the Performance Services revenue fell short of the company's projections. Notably, GAAP net income included a $57 million gain from a derivative lawsuit settlement, culminating in a total of $72.9 million.
In addition to the financial results, Premier Inc. shareholders approved board nominees and executive pay in a recent meeting. Richard J. Statuto and Ellen C. Wolf were elected to the company's Board of Directors for three-year terms. Ernst & Young LLP will continue as Premier's independent registered public accounting firm for the fiscal year ending June 30, 2025.
In other company news, CFO Craig McKasson announced his retirement after a 27-year tenure. Analysts from InvestingPro highlighted Premier Inc.'s financial health score as "GREAT" and the company's commitment to technology investments, such as e-invoicing and e-payables, to enhance supply chain efficiencies. 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.
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