Cerner Corp. (CERN) Short Interest Up 9.7% in November
Cerner Corp. (NASDAQ:CERN) was the target of a large increase in short interest in November. As of November 15th, there was short interest totalling 18,588,690 shares, an increase of 9.7% from the October 31st total of 16,949,010 shares. Currently, 6.2% of the company’s stock are short sold. Based on an average daily volume of 6,037,718 shares, the short-interest ratio is currently 3.1 days.
Shares of Cerner Corp. (NASDAQ:CERN) opened at 50.49 on Monday. Cerner Corp. has a 1-year low of $48.04 and a 1-year high of $67.50. The stock has a market capitalization of $17.14 billion, a price-to-earnings ratio of 26.70 and a beta of 1.11. The firm’s 50-day moving average price is $55.35 and its 200 day moving average price is $59.01.
Cerner Corp. (NASDAQ:CERN) last issued its quarterly earnings data on Tuesday, November 1st. The company reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by $0.01. The firm had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.24 billion. Cerner Corp. had a return on equity of 18.39% and a net margin of 13.85%. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.54 EPS. Equities research analysts expect that Cerner Corp. will post $2.30 earnings per share for the current fiscal year.
CERN has been the topic of a number of analyst reports. Bank of America Corp. downgraded Cerner Corp. from a “neutral” rating to an “underperform” rating in a report on Monday, November 7th. Canaccord Genuity reiterated a “buy” rating and issued a $68.00 price target on shares of Cerner Corp. in a report on Sunday, September 11th. Vetr downgraded Cerner Corp. from a “hold” rating to a “sell” rating and set a $64.78 price target on the stock. in a report on Monday, August 8th. Stifel Nicolaus initiated coverage on Cerner Corp. in a report on Wednesday, August 31st. They issued a “hold” rating on the stock. Finally, Piper Jaffray Cos. reiterated an “overweight” rating and issued a $81.00 price target on shares of Cerner Corp. in a report on Monday, August 29th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $64.88.
In other Cerner Corp. news, Director Linda M. Dillman sold 6,000 shares of Cerner Corp. stock in a transaction on Tuesday, September 6th. The stock was sold at an average price of $64.68, for a total transaction of $388,080.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William D. Zollars sold 10,000 shares of Cerner Corp. stock in a transaction on Monday, November 7th. The shares were sold at an average price of $51.50, for a total value of $515,000.00. The disclosure for this sale can be found here. Company insiders own 13.20% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Johnson Financial Group Inc. raised its position in Cerner Corp. by 37.8% in the second quarter. Johnson Financial Group Inc. now owns 1,882 shares of the company’s stock worth $111,000 after buying an additional 516 shares in the last quarter. Mycio Wealth Partners LLC raised its position in Cerner Corp. by 33.5% in the second quarter. Mycio Wealth Partners LLC now owns 1,997 shares of the company’s stock worth $117,000 after buying an additional 501 shares in the last quarter. Fuller & Thaler Asset Management Inc. bought a new position in Cerner Corp. during the third quarter worth about $124,000. Alpha Windward LLC raised its position in Cerner Corp. by 2.2% in the second quarter. Alpha Windward LLC now owns 2,061 shares of the company’s stock worth $121,000 after buying an additional 44 shares in the last quarter. Finally, NN Investment Partners Holdings N.V. raised its position in Cerner Corp. by 16.8% in the second quarter. NN Investment Partners Holdings N.V. now owns 2,085 shares of the company’s stock worth $122,000 after buying an additional 300 shares in the last quarter. 82.78% of the stock is currently owned by institutional investors.
About Cerner Corp.
Cerner Corporation is a supplier of healthcare information technology (HCIT). The Company offers a range of intelligent solutions and services that support the clinical, financial and operational needs of organizations. Its segments include Domestic and Global. The Domestic segment includes the business activity in the United States.
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